Spanish investor which opposed €800m Aryzta rights issue joins in fundraising drive

In a letter to its own investors last week, Cobas said its vision for Aryzta, best known in Ireland for its Cuisine de France bread and cakes, had not changed

11th November, 2018

The Spanish investment company that opposed Aryzta’s €800 million shareholder cash call has participated in the fundraising even though it insists the scale of the rights issue was too high.

Cobas Asset Management led the opposition to the rights issue, which secured only narrow approval by shareholders earlier this month by 53 per cent to 47 per cent.

In a letter to its own investors last week, Cobas said its vision for Aryzta, best known...

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