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Article: Private equity groups may make bid for Sainsbury but analysts sceptical

Article from:
Yorkshire Post
Article date:
February 3, 2007
Copyright

Eric Barkas City Editor

THE private equity firms Kohlberg Kravis Roberts and Blackstone said yesterday they were considering a bid for Sainsbury. If the bid is mounted it would be Europe's biggest leveraged buyout.

Shares in Sainsbury leapt on the announcement at first, valuing the supermarket company at some [Pounds]9.7bn. But some analysts urged caution and said a conservative value would be nearer [Pounds]7.5bn.

Sainsbury issued a statement saying it noted the private equity announcement but "no proposal has been received".

Private equity is flush with cash that is dying for a home. Retail companies are attractive because they have property assets that can underpin the borrowing ...

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