An Egyptian court has cleared Sainsbury's (LON:SBRY) boss of embezzlement charges linked to an Egyptian investment by the chain 16 years ago.
Sainsbury's said the court had acquitted Mike Coupe of all charges brought against him as the company's chief executive and its most senior employee.
A court in Giza initially convicted Coupe in his absence over allegations that he tried to seize cheques related to an Egyptian business in which the British chain invested.
Sainsbury's said Amr el-Nasharty bought its interest in 2001 in the Egyptian joint venture the chain set up with him in 1999.
But he paid Sainsbury's with cheques it said were dishonoured, the group said.
El-Nasharty claimed Coupe seized the cheques in Egypt in July 2014, but Sainsbury's said that was impossible because Coupe was in London at the time.
Coupe and Sainsbury's strongly denied the accusations and they appealed against the verdict earlier this year.
Sainsbury's issued a statement on Thursday saying: "Mike Coupe, Chief Executive Officer of J Sainsbury PLC, was today acquitted by an Egyptian court of all charges brought against him as a representative of the company."