Aryzta's fund-raising plan scrapes through

Aryzta's fund-raising plan scrapes through
Aryzta plan had been opposed by Spanish hedge fund

Bakery group says it will continue to consult shareholders after narrow vote at annual general meeting

Shares in Irish-Swiss bakery group Aryzta dropped by almost 20 per cent on Thursday after shareholders narrowly backed a plan to raise almost €800m at the group’s annual meeting in Zurich.

Just under 53 per cent of shareholders voted in favour of the proposal, which had been opposed by Aryzta’s largest investor, Spanish hedge fund Cobas. Trading in the shares had been suspended for the...

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