Swiss hedge fund Veraison now owns “significantly less” than 3pc of Aryzta. Veraison’s stake once stood at more than 10pc of Aryzta, however it fell below 5pc on December 7 last year. In mid-September Veraison’s stake in Aryzta had increased to almost 10pc. Verasion - alongside Spain's Cobas - led the campaign last year to unseat a swathe of the Aryzta board, including Gary McGann and Kevin Toland. In October Veraison welcomed the news that the negotiations between Aryzta and US hedge fund Elliott had been terminated.

Source: Irish Independent January 05, 2021 08:15 UTC