Sainsbury in Talks to Sell Banking Arm to Centerbridge, Sky Says
British grocer J Sainsbury Plc is in advanced talks to sell its banking arm to Centerbridge Partners, Sky News reported Saturday, citing a person familiar with the matter.
An agreement could be reached within weeks, but talks could also still fall apart, according to Sky. An analyst told Sky that the purchase price was likely to be about 200 million pounds ($275 million).
Sainsbury had invited suitors to submit offers for its banking unit at the end of last year, Bloomberg News reported.
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