The John Lewis Partnership Pensions Trust has sold its remaining stake in online grocer Ocado.

The trust sold part of its holding when Ocado floated last July but retained a stake of 10% in the etailer, which it has now offloaded.

Ocado said that the sale would have no impact on its commercial arrangements with John Lewis-owned grocer Waitrose, whose products the etailer sells. Last May Ocado struck a new 10-year supply arrangement with Waitrose.

Jefferies analyst James Grzinic said: “We do not see any operational significance form today’s development.

“We do note, however, the extent to which Ocado’s equity had recently benefited from a favourable supply and demand imbalance. We believe today’s placing is likely to address that technical situation.”