25th Mar 2015 10:10
LONDON (Alliance News) - Origin Enterprises PLC on Wednesday said Swiss food company Aryzta AG is planning to sell more than half its stake in the company.
Origin said Aryzta has proposed a placing of up to 49 million shares in Origin via an accelerated bookbuild. Shares in Origin, the Irish food company, were trading at EUR8.591 on Tuesday, down 2.4%. At that price, the sale by Aryzta would raise around EUR421 million.
The move would cut Aryzta's shareholding in Origin to 36.3 million shares from around 85.3 million now, bringing down its stake in the company to 28.9% from 68.1% now.
The placing will be handled by bookrunners J&E Davy and Goodbody Stockbrokers.
By Sam Unsted; [email protected]; @SamUAtAlliance
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