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Investing.com - J Sainsbury PLC (LON:SBRY) has confirmed it is in discussions with Chinese e-commerce giant JD.com regarding a potential sale of its Argos general merchandise retail brand.
The UK supermarket chain disclosed that while talks are ongoing, no terms have been agreed upon and no final agreement has been reached, according to Bernstein SocGen Group.
Bernstein SocGen Group has maintained its Market Perform rating on J Sainsbury with a price target of GBP3.20, viewing the potential divestiture as a "positive catalyst" that would allow the company to focus entirely on its Food First strategy.
JD.com has recently expanded its European presence with the acquisition of German electronics retailer Ceconomy for €2.4 billion, demonstrating its interest in the European retail market.
The Chinese company had previously engaged in discussions to acquire UK electronics retailer Currys but ultimately withdrew from those negotiations.
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