Finance

LXi cancels £500m Sainsbury portfolio buy due to ‘stock market volatility’

By 2022-09-26T06:46:00

Sainsburys

Source: Shutterstock/Michaelabest

LXi REIT has cancelled its £500m acquisition of 18 Sainsbury stores due to “stock market volatility” just three days after agreeing the deal.

In a statement to the London Stock Exchange, LXi said: “The company has notified Sainsbury’s of its decision not to proceed further with the portfolio purchase or equity funding given the current stock market volatility.”

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