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A billionaire investor known as the “Czech sphinx” has launched a raid on Sainsbury’s – sparking speculation that Britain’s second-biggest supermarket could be targeted in a deal to take it private.
Daniel Kretinsky’s firm Vesa Equity Investments has increased its stake in the grocer to almost 10pc by buying shares worth more than £300m from Qatar’s sovereign wealth fund.
The move makes the activist investor one of Sainsbury’s biggest shareholders alongside its founding family and Qatar. Analysts suggested it could be the precursor to a full-blown takeover bid.
Mr Kretinsky also owns 40pc of German wholesaler Metro and attempted to take it private in 2019, but the plan was snubbed by the company’s board.
The investor’s empire spans energy, media and retail. He was nicknamed the “Czech sphinx” for his inscrutable nature after making a series of shrewd investments.
Mr Kretinsky is Royal Mail’s biggest shareholder, owning 15pc of the postal monopoly in an investment that has allowed him to book paper profits worth hundreds of millions of pounds after the company’s stock surged in the last year.
Vesa’s stake in Sainsbury’s now stands at 9.99pc. The Qataris retain a 15pc holding.
Mr Kretinsky’s spokesman said: “This reaffirms Vesa’s long-term interest in acquiring strategic minority participations in publicly listed companies across the wider food retail distribution segment, where we continue to perceive Sainsbury’s as an attractive investment opportunity.
“We are very pleased to be able to be associated with the strong and reputable brand of Sainsbury’s.
“Vesa would like to express its support to the strategy of the executive management team of Sainsbury’s, led by Simon Roberts as the chief executive officer.”
