Sainsbury(J) PLC Update on Sainsbury's Bank (8791P)
22 Octobre 2021 - 08:00AM
UK Regulatory
TIDMSBRY
RNS Number : 8791P
Sainsbury(J) PLC
22 October 2021
22 October 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
J Sainsbury plc
Update on Sainsbury's Bank
On 17 November 2020, J Sainsbury plc ("Sainsbury's") announced
that it had received some expressions of interest in a possible
acquisition of Sainsbury's Bank.
Whilst the Board of Sainsbury's believe that it was in the best
interests of shareholders to explore these expressions of interest,
it has concluded that these do not offer better value for
shareholders than will be realised through retaining Sainsbury's
Bank. Accordingly, all such discussions have now ended.
We continue to make progress strengthening and simplifying our
Financial Services business in line with our strategy and we remain
comfortable with consensus profit forecasts for the division(1)
.
(1) Current analyst consensus for Financial Services Underlying
Operating Profit: FY21/22 GBP26m, FY22/23 GBP43m, FY23/24
GBP49m.
Tim Fallowfield, Company Secretary and Corporate Services
Director, was responsible for the disclosure of this
announcement.
For further information, please contact:
Investor Relations Enquiries
James Collins +44 (0) 7801 813 074
Media Enquiries:
Rebecca Reilly +44 (0) 20 7695 7295
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