J Sainsbury SBRY 0.69%increase; green up pointing triangle is selling its core banking business to NatWest Group NWG 1.54%increase; green up pointing triangle for an undisclosed sum, as part of its previously announced plan to withdraw from the segment and focus on its retail business.
The U.K.’s second-largest grocer by market share said Thursday that the final consideration will reflect the value of assets and liabilities to be transferred to NatWest at completion. It expects to write down a net 45 million pounds ($57.2 million) on the business’ assets and liabilities.
Source: WSJ
