Economy

Sainsbury's favourite to acquire Nisa in £130m deal

Sainsbury's favourite to acquire Nisa in £130m deal

Supermarket giant Sainsbury's has reportedly entered exclusive talks to acquire the convenience chain Nisa Retail in response to Tesco's £3.7bn deal for Booker.

Nisa has been working with investment bank Lazard on a sale process and is thought to have received interest from several prospective buyers, including the Co-Op.

The business would complement Sainsbury's chain of 800 convenience stores.

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Catherine Shuttleworth, chief executive at retail and shopper marketing agency Savvy, said anyone considering buying Nisa would have a "mammoth job" on their hands, managing the differing demands of the members in the model.

If the Sainsbury's deal goes ahead, ...

Any sales offers would require the backing of more than 50 per cent of Nisa's shopkeeper members.

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They were equally unflattering of civilians whom they said were often sympathetic toward insurgents. One or possibly two attackers were still alive and fighting with police, he said.

Sainsbury's share price has gained ground in London this morning, having surged 1.63 percent to 256.40p as of 09:14 BST, outperforming the broader United Kingdom market, with the benchmark FTSE 100 index now standing 0.71 percent higher at 7,516.71 points.

Sainsbury's plans for a takeover comes less than a year after its £1.4 billion acquisition of Argos parent company Home Retail Group was finalised.

An investigation by the Competition and Markets Authority (CMA) would take place along similar lines to the one being carried out in respect to the Tesco-Booker tie up, they added.

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