Sainsbury's Argos Sale to Swift is Win-Win for Both Businesses

Dow Jones07-31 15:41

0741 GMT - J Sainsbury's sale of its Argos business to Swift Partners is a win-win for both businesses and is expected to support the grocers's equity rating, Shore Capital analysts Clive Black and Darren Shirley write. Sainsbury is selling its Argos unit to Swift for at least 120 million pounds as part of a plan to focus on its core food business. Swift was created by industry veterans Richard Pennycook, Trevor Strain and Matt Truman alongside True Capital. Shore Capital describes the Swift team as the "greatest retail/consumer/business talent in the U.K." Shares are up 3.7% at 368.80 pence.

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