News Releases
18th July 2007
STATEMENT BY DELTA (TWO) LIMITED REGARDING J SAINSBURY PLC
In response to the statement released this morning by Sainsbury, Delta Two, which is controlled by a fund established by the Qatar Investment Authority (the "Fund") in conjunction with London-based Three Delta LLP ("Three Delta"), confirms that it is in preliminary discussions with Sainsbury. These discussions relate to the possibility of Delta Two increasing its interest in Sainsbury by way of a cash offer to acquire the balance of the ordinary share capital of Sainsbury. No decision has been made regarding any possible offer and accordingly there can be no certainty that any offer for Sainsbury will be made. A further announcement may be made, if and when appropriate.
Paul Taylor, Principal of Three Delta, which is the strategic investment adviser to Delta Two in relation to this investment, said:
“Three Delta is focused on strategic, long-term investments in exceptional businesses, principally in the UK, which have strong incumbent management teams, leading market positions and long-term growth opportunities. All of these criteria are met by Sainsbury. Three Delta has a high regard for the board, management and employees of Sainsbury and is supportive of the company's operational strategy. We are very pleased that the Fund, through Delta Two, has made a substantial investment in Sainsbury.”
