Sainsbury’s boss Mike Coupe acquitted by Egyptian courts
Sainsbury's boss Mike Coupe has been acquitted by an Egyptian court of all charges in a legal case linked to the supermarket's investment in a business in the country 16-years ago.
The chief of one of Britain's biggest supermarkets was sentenced to two years in prison in April, over allegations of embezzlement after being found guilty in absentia.
In a market update, Sainsbury's said:
"Mike Coupe was today acquitted by an Egyptian court of all charges brought against him as a representative of the company.
This relates to a legal dispute brought against Sainsbury's and Mr Coupe by one individual, Amr el-Nasharty, with whom Sainsbury's entered into a joint venture in 1999."