Sainsbury's said that it is still hoping to complete its sale of Homebase before the end of the year, despite continuing prolonged discussions with buyers.
Announcing the group's interim results today, Sainsbury's chief executive Sir Peter Davis admitted that reaching an agreement to sell the DIY chain has taken longer than anticipated. However, he said that he was now at the "advanced negotiations" stage and hoped to complete the deal before Christmas. Sainsbury's is being advised by UBS Warburg.
