3rd Sep 2015 08:25
LONDON (Alliance News) - South African billionaire Christo Wiese is now training his sights on the UK supermarket industry, The Daily Telegraph reported, following his acquisitions of gym chain Virgin Active and fashion retailer New Look.
Wiese, who owns a 19% stake in frozen food retailer Iceland and who has been linked with a takeover of Wm Morrison Supermarkets PLC in the past, told the Telegraph that his investment firm, Brait, may make its next venture in the UK supermarket sector.
He said it would be prepared to overlook some of the strict investment criteria in place at Brait if the right opportunity in the supermarket sector arose. He said that if Shoprite, the South African supermarket chain he owns, "perceives the right opportunity they will certainty pursue it".
The news appeared to help shares in Morrisons higher on Thursday morning. The supermarket was trading up 5.0% to 171.2 pence, one of the FTSE 100's best performers. The stock also was upgraded Thursday to Neutral from Sell by UBS, with a price target of 175p, up from 165p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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