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 Brookfield , the $ 225bn global asset manager, have discarded their plan to make a bid for Argos supermarket group J. Sainsbury's . The trio reportedly decided against the planned takeover after Sainsbury ’s bid £1.4m last month for Qatar Investment Authority , which also own UK . CVC Capital Partners will retain the around 25 percent stake it already holds in Sainsbury ’s.