Friday February 28, 2020

Aryzta's fund-raising plan scrapes through

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

1st November, 2018
Aryzta plan had been opposed by Spanish hedge fund

The capital raising plan by the owner of Cuisine de France is aimed at repaying borrowings and funding a major restructuring of the troubled group.

Aryzta’s share price has tumbled by 80 per cent in the past year after a series of profit warnings. The company recorded a trading loss of more than €400m for the year to the end of July.

Cobas, however, had wanted the cash call cut in half, and...

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