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Lord Sainsbury sells [pounds sterling]130m stake.
By Ian Lyall, Daily Mail, London Knight Ridder/Tribune Business News
Feb. 23--The City was back on bid alert yesterday as Sainsbury's fourth largest shareholder offloaded a large chunk of stock in the embattled retailer.
The Gatsby Charitable Foundation sold 45m shares, or 2.6pc, of the company. It netted [pounds sterling]130m -- around a third of which will be used to fund a new science lab at Cambridge University.
The Foundation is the primary charitable trust for Science Minister Lord David Sainsbury and the share sale brings his holding in the group down to 21pc from its original 23pc. When he entered government, Lord Sainsbury's stake was …
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- Girls to tap into boys' subjects.
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News wire article from: Europe Intelligence Wire
January 28, 2005
700+ words
