Financier Robert Tchenguiz sells stake in Sainsbury

Oct 10, 2008 (Datamonitor via COMTEX) -- JSNSY | Quote | Chart | News | PowerRating -- J Sainsbury, a UK-based supermarket group, has said that Razino, a company owned by the Tchenguiz Discretionary Trust of financier Robert Tchenguiz, has sold its stake in Sainsbury.

Razino has sold all its 84.92 million shares in Sainsbury as Mr Tchenguiz liquidated assets in the wake of the collapse of the Icelandic banking system.

J Sainsbury recently reported better than expected second-quarter sales. However, the stake sale by Mr Tchenguiz has eclipsed the retailer's good performance during the current global financial crisis.

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