UK - More Sainsbury's share movements
Robert Tchenguiz has raised his stake in Sainsbury's from 4.04% to 4.15%. It is thought the property tycoon is interested in working with the board of the UK supermarket giant to help it realise some of the value of its property. Tchenguiz has previous involvement in private equity deals, leading the team of investors that acquired Somerfield for £1.1bn in December 2005. Additionally, the Tchenguiz Family Trust participated in the £51.5m buyout of clothes retailer Phase Eight with Kaupthing Principal Investments in January 2007.
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