Retail news round-up: Sainsbury's to buy Nisa; Frank Field wants BHS probe to be released in full; and Ocado boss to meet disappointed investors.
Sainsbury’s set to buy convenience store Nisa
Sainsbury’s is set to sign a £130m deal to acquire the convenience store chain Nisa, The Telegraph reported.
Nisa, a buying group which supplies independent retailers, has hired Lazard, the investment bank, for a potential sale amid the Tesco-Booker alliance.
Nisa had considered offers from multiple bidders including Co-op and Morrisons; however, it recommends Sainsbury’s to its members as the preferred bidder.
Frank Field wants details of BHS probe to be released
Frank Field, chairman of the Work and Pensions Committee of MPs during the BHS scandal, has asked for the details of the Pensions Regulator’s probe into BHS to be released in full, This Is Money reported.
He has raised a concern that certain details might not be released, and people criticised in the report might get a chance to have it watered down.
He said that the draft version of the report has been circulated among stakeholders before its publication.
Ocado finance boss to meet disappointed investors
Ocado’s finance boss is set to meet its investors who are disappointed with the lack of progress licensing its technology overseas, The Telegraph reported.
Ocado’s chief financial officer Duncan Tatton-Brown will be meeting Crystal Amber fund manager Richard Bernstein during the last week of June.
Bernstein said that the company interacts mainly with stockbroking analysts who focus on the grocery industry.
An Ocado spokesman said: “We do not comment on individual shareholders’ views.”