Qatar sovereign wealth fund dumps stake in Sainsbury’s
Qatar’s sovereign wealth fund is set to dump a significant chunk of its stake in grocery giant Sainsbury’s, ending its nearly two decades-long run as the businesses’ largest shareholder.
On Tuesday, the Qatar Investment Authority said in a stock exchange statement it planned to sell up to 83.6 million Sainsbury’s shares to institutional investors – reducing its stake in the grocery giant from 10.5% to just under 7%.
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