LONDON (Alliance News) - Origin Enterprises PLC Wednesday said Swiss food company Aryzta AG has sold a 39% stake in the company at EUR8.25 per share, giving Aryzta EUR404.3 million.
The placing, under which 49 million shares are being sold, will complete at the end of March, leaving Aryzta with a 29% stake in the company.
Aryzta had been planning to sell up to 49 million shares in Origin Enterprises, so it sold all the shares it had wanted to sell.
In a statement on its website, Aryzta said it has agreed to not sell any further shares in the company for 120 days on completion of the deal.
Origin Enterprises shares closed down 6.9% at 8.40 pence on Wednesday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Origin (OGN)