Bestway Group acquires shares in Sainsbury’s
Bestway has agreed to acquire a total of 80,792,512 shares in Sainsbury’s, representing 3.45% of Sainsbury’s issued share capital
This move will make Bestway the sixth largest shareholder in Sainsbury’s and was likely to have cost in excess of £190m.
“Bestway Group intends to hold its shares in Sainsbury’s for investment purposes and looks forward to supporting the executive management team,” said the company. “Bestway Group may look to make further market purchases of Sainsbury’s shares from time to time, subject to availability and price.”
J Sainsbury PLC confirmed the share acquisition and said it “will engage with Bestway Group in line with normal interactions with shareholders”.Bestway Sainsbury's