, Columnist
Bestway Tastes the Difference With Sainsbury Stake
Talk about a takeover of British grocer Sainsbury has been mounting. What if it became the acquirer instead?
A good haul.
Source: Bloomberg
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Anwar Pervez built wholesaler Bestway Group Ltd. from a single convenience store. His decision to invest in Britain’s second-biggest supermarket chain J Sainsbury Plc looks equally inspired. There is little downside when it comes to his acquisition of a 4.5% stake in the grocer.
Bestway first announced the holding late last month. It had been building its position for some time before crossing the 3% threshold that required the disclosure. Shares in Sainsbury are up more than 50% since their October low, so, depending on when Bestway bought, it could already be sitting on a profit.