Credit Suisse: Aryzta may need shareholder cash

Analysts warn debt levels remain “uncomfortably high”

3rd April, 2016
Owen Killian, chief executive of Aryzta with Patrick McEniff Pic: Photocall

Aryzta, the under-fire Irish-Swiss food company, may need to tap up shareholders for cash to buy out the remaining shareholder in a French retailer it co-owns, according to Credit Suisse.

Analysts at the giant Swiss investment bank say Aryzta’s debt levels remain “uncomfortably high” and it may need to issue equity to finance the purchase of the 49 per cent of Picard it does not own by 2020.

Aryzta bought 51 per cent...

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