Our new website is coming soon, give it a try now and let us have your feedback. Take me to the Beta

Email Facebook Twitter

TSX Lithium explorer International Lithium Corp prepares to drill at Raleigh Lake
Exclusive: Hardman & Co Investor Forum - Severn Trent, Calculus Capital, Volta Finance, Residential
Latest Share Chat

Finance & Stock Market News

Sainsbury buys five Somerfield stores

Tue, 26th Sep 2006 15:35

LONDON (AFX) - J Sainsbury PLC said it has agreed to buy five stores from
Somerfield for an undisclosed sum.

The supermarket chain said it expects the stores, which have an average size of 11,000 square foot, to be earnings enhancing in their first full year of operation. The five have a gross asset value of 5.6 mln stg, the company said.

The acquisition follows the purchase of four other Somerfield stores in August.

All five stores will reopen as Sainsbury's supermarkets as part of a phased programme expected to be completed by Christmas. All staff employed at the stores have the option to transfer to Sainsbury's under TUPE regualtions.

The new stores are in: Littlehampton, West Sussex; Peebles, Scottish Borders Pocklington, North Yorkshire; Yarm, North Yorkshire and South Shields, Tyne & Wear.



Copyright AFX News Limited 2005. All rights reserved.
The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited

Related Shares:

Next Article: Shell signs accord with Eni, Calik Enerji on Turkish oil pipeline

Back to Finance News

Share Price, Share Chat, Stock Market news at lse.co.uk
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at lse.co.uk

Home  |  Contact Us  |  About Us  |  Advertise with Us  |  Sitemap  |  Terms & Conditions  |  Cookies  |  Privacy  |  Mobile Site  |  About this website design

Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.