Sainsbury's Agrees to Sell Argos to Swift Partners for £120m

3-line summary

• Sainsbury's agreed to sell Argos for £120m to Swift Partners, a buyer vehicle that includes former Co-operative Group boss Richard Pennycook, as the supermarket chain focuses on its core food business.
• Argos will keep operating in Sainsbury's shops and via its 667 UK stores, with the deal expected to complete in February next year.

This summary is our own processing of the source article; see the source link below for full context.