Singapore's GIC joins Fortress bid for UK supermarket Morrisons

  • 7/28/2021
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LONDON, July 28 (Reuters) - Singapore’s sovereign wealth fund has joined the Fortress-led private equity consortium bidding to buy the British supermarket group Morrisons, and will provide a portion of the funding, the groups said on Wednesday. The companies said GIC, the sovereign wealth fund, held around 0.21% of the issued share capital of Britain’s fourth-largest supermarket. Morrisons has agreed to a takeover led by SoftBank-owned Fortress Investment Group, which valued Britain’s fourth-largest supermarket chain at 6.3 billion pounds ($8.8 billion). $1 = 0.7202 pounds Reporting by Kate Holton, Editing by Paul Sandle Our Standards: The Thomson Reuters Trust Principles.

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