Bestway builds stake in J Sainsbury

Bestway has taken a 3.45% stake in J Sainsbury (LON: SBRY) and has made it clear that it is willing to buy more shares from existing investors in the supermarkets operator. However, it says that it does not intend to bid for Sainsbury.

Privately-owned Bestway owns Bestway Wholesale, which is the largest independent cash and carry group in the UK Tesco owns rival Booker. It includes the Batleys cash and carry business and assets acquired from former AIM company Conviviality. There are 56 depo...