Bestway Group Limited has announced it has acquired or agreed to acquire a total of 80,792,512 shares in J Sainsbury plc (LON:SBRY) representing 3.45% of Sainsbury’s issued share capital.
Bestway Group intends to hold its shares in Sainsbury’s for investment purposes and looks forward to supporting the executive management team. Bestway Group may look to make further market purchases of Sainsbury’s shares from time to time, subject to availability and price.
Eligible Sainsbury’s shareholders who are institutional shareholders interested in selling their shares to Bestway Group should contact Andrew Quick on +44 207 000 2000 or sales-traders@redburn.com. Retail investors should contact their brokers.
Bestway Group confirms that it is not considering an offer for Sainsbury’s. This is a statement to which Rule 2.8 of the UK Takeover Code applies. Pursuant to Rule 2.8, Bestway Group is prohibited from announcing an offer or possible offer for Sainsbury’s and from taking certain other actions as set out in Rule 2.8 for a period of six months (save in the limited circumstances set out below).
