The Sainsbury family’s main charity, the Gatsby Charitable Foundation, sold 45m shares, or a 2.6% stake, in the Sainsbury supermarket chain yesterday raising further speculation that the family may be prepared to sell to a potential bidder.
The sale is reported to be the first major sale of a stake in the company linked to the founding family for at least five years.
The charity fund, which was founded by Lord Sainsbury of Turville in the 1960s, halved its holding in the company with the sale, which netted £130m to fund its donation programme.
Before the sale, the Sainsbury family held 34% of the company
The sale is reported to be the first major sale of a stake in the company linked to the founding family for at least five years.
The charity fund, which was founded by Lord Sainsbury of Turville in the 1960s, halved its holding in the company with the sale, which netted £130m to fund its donation programme.
Before the sale, the Sainsbury family held 34% of the company
No comments yet