Sainsbury has sold its US business, Shaw's Supermarkets, to rival grocer Albertson's for $2.5bn.
Following completion of the sale, Sainsbury said it intended to return 35p per share to
shareholders - about £680m.
Sainsbury group chief executive, Sir Peter Davis, said the balance of the sale proceeds would be re-invested in growing its UK business.
Shaw's operates 202 stores in the New England states and completion of the sale to Albertson's is expected by early May.
Following completion of the sale, Sainsbury said it intended to return 35p per share to
shareholders - about £680m.
Sainsbury group chief executive, Sir Peter Davis, said the balance of the sale proceeds would be re-invested in growing its UK business.
Shaw's operates 202 stores in the New England states and completion of the sale to Albertson's is expected by early May.
No comments yet