LONDON (dpa-AFX) - Bestway Group said Friday that it has acquired or agreed to acquire a total of 80.79 million shares in Sainsbury (J) Plc (JSAIY.PK, SBRY.L), representing 3.45% of Sainsbury's issued share capital. It confirmed that it is not considering an offer for the British supermarket chain.
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.
Responding to Bestway Group announcement, Sainsbury said it will engage with Bestway Group in line with its normal interactions with shareholders.
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