A firm established by a late South African billionaire businessman and an investment giant has bought a stake in B&M.
Orbis Allan Gray Limited has snapped up a 5% stake in the Merseyside-headquartered business.
The move makes it one of the largest shareholders in the discount retail giant.
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Allan Gray was a South African billionaire businessman and philanthropist who founded the privately-owned investment management company named after him.
Orbis Investment Management is an investment management firm headquartered in Bermuda.
B&M’s largest shareholder remains the Arora family’s investment vehicle, SSA Investments SARL, despite the company completing the sale of shares worth £234m in January.
The company disposed of 40 million shares in B&M, bringing its holdings down from almost 11% to just under 7%.
The second larges shareholder in B&M is Capital Research & Management Co which has a holding of 6.79%.
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