A sign is displayed outside a Sainsbury's store in London, in this file photograph dated December 3, 2015. REUTERS/Neil Hall/files EDINBURGH (Reuters) - CVC Capital Partners [CVC.UL], Qatar’s QIA and Canada’s Brookfield have abandoned a secret plan to bid for supermarket group J.Sainsbury plc (SBRY.L), Sky News reported on Saturday. The report could not immediately be verified. Sky said the trio had dropped a planned takeover, hatched in the autumn, after Sainsbury’s made a 1.4 billion pound bid for Home Retail Group HOME.L, the owner of Argos. QIA has an around 25 percent stake in Sainsbury’s. Reporting by Elisabeth O'Leary; Editing by Alexander Smith
According to an unverified Sky News report , CVC Capital Partners ( CVC ) , the $ 80bn Luxembourg - headquartered private equity firm , Qatar Investment Authority ( QIA ) , and Oracle , the $ 225bn global asset manager , have discarded their plans to make a bid for UK supermarket group , Sainsbury 's . The trio reportedly decided against the proposed takeover after Sainsbury ’s bid £ 1.4 m last month for Home Retail Group , which also own Argos . QIA will retain the 50 % stake it already holds in Sainsbury ’s .