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    Supermarket food could soon carry eco-labels, says study

    The “Inflation Reduction Act” marks a new chapter for America’s climate policy. Pic: PA

    New US act encourages low-carbon purchases

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    Ukraine grain tycoon killed in Russian shelling

    General Assembly Meets on Peacebuilding and Human Rights. Photo by UN

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    New US act encourages low-carbon purchases

    Economist chart: Sources: UN Comtrade; UN joint coordination centre; Ukrainian

    Nine cargo ships have left Ukraine

    Smog is so bad in Delhi at times that the government has closed elementary schools. Sajjad Hussain/AFP via Getty Images

    The UN just declared a universal human right to a healthy, sustainable environment

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    Oleksiy Vadatursky was worth $450m (£369m), according to a 2020 estimate by Forbes

    Ukraine grain tycoon killed in Russian shelling

    General Assembly Meets on Peacebuilding and Human Rights. Photo by UN

    UN right to a healthy environment “is ammunition for campaigners”

    Grain exports

    Ukraine war: Grain exports could restart ‘within days’

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    In northern Tanzania, the government is trying to evict thousands of Maasai

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    Indigenous communities are raising awareness about how the proposed lithium mine at Peehee Mu'huh (Thacker Pass), NV, will impact their ancestral burial grounds, water resources, and wildlife. Photo by Chanda Callao/ @Peopleofredmountain.

    Free, prior and informed consent required as clean energy threatens Indigenous Peoples

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    The UN just declared a universal human right to a healthy, sustainable environment

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    Oleksiy Vadatursky was worth $450m (£369m), according to a 2020 estimate by Forbes

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    General Assembly Meets on Peacebuilding and Human Rights. Photo by UN

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Home Topics Retail

Morrisons bid rival to make pledge on property sale

US buyout firm will promise not to sell off large chunks of property empire

August 18, 2021
in Business, In the news, Economy, Food Safety, Governance
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Morrisons rival property sale

Morrisons rival property sale

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Morrisons bid rival

The BBC reports that US buyout firm Clayton, Dubilier & Rice will promise not to sell off large chunks of Morrisons’ property empire when it tables an improved cash offer for the supermarket later this week.

Morrisons‘ board is currently recommending shareholders accept a bid from another consortium led by US-based and Japanese-owned Fortress Group.

Morrisons, the UK’s number four grocer, owns 86 per cent of its store freeholds.

Supermarkets like Tesco and Sainsbury’s own just over 50 per cent of theirs. Morrisons bid rival

The Fortress consortium includes the property arm of the biggest private company in the US, Koch Industries, which led many to suspect that large-scale property sales would be part of the plan.

However, in its offer document, Fortress said it “does not anticipate engaging in any material store sale and leaseback transactions”.

A person close to the deal said Clayton, Dubilier & Rice (CD&R) could be expected to make “similar commitments” if and when it improves on the latest Fortress bid of £6.7 billion before a deadline this Friday.

Exactly what “material” means to either bidder is unclear.

More here…

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