Aryzta’s top investor raises stake ahead of €800 million funding plan

The largest investor in Aryzta is upping its stake in the business ahead of a showdown on the food’s company’s plans to raise €800 million.

Spanish investment form Cobas Asset Management is believed to now hold about 20 per cent of Aryzta’s shares, up from about 14 per cent, according to sources familiar with the matter.

The stake building comes as some key investors in Aryzta remain sceptical about the size of the ...