(Bloomberg) --
British grocer J Sainsbury Plc is in advanced talks to sell its banking arm to Centerbridge Partners, Sky News reported Saturday, citing a person familiar with the matter.
An agreement could be reached within weeks, but talks could also still fall apart, according to Sky. An analyst told Sky that the purchase price was likely to be about 200 million pounds ($275 million).
Sainsbury had invited suitors to submit offers for its banking unit at the end of last year, Bloomberg News reported.
Read more: Sainsbury Drops; UBS Downgrades After Rally Spurred by Bid Talk
©2021 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
