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Birmingham Post
Birmingham Post
Business
Hannah Baker

Sainsbury's talks to sell 18 stores in leaseback deal collapse

Sainsbury REIT Dragon Highbury

Sainsbury is no longer in discussions with a real estate company LXi REIT to sell and lease back 18 of its branches.

The supermarket chain announced on September 21 that it was in talks to sell off a number of its stores in the South of England in a deal estimated to be worth around £500m.

LXi REIT said on Monday (September 26) that given current stock market volatility it would not proceed with the share issue that would have part-funded the transaction. Sainsbury's said the collapse of the deal would have no impact on its financial guidance.

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