Hedge fund Veraison now owns “significantly less” than 3pc of Aryzta, having at one stage owned almost 10pc of the company. Veraison said that in the last trading days of December it sold around 4pc of Aryzta in two block trades to two Swiss family offices. On April 24 last year Veraison first notified regulators that it had a 3.2pc stake in the troubled Swiss-Irish company. Verasion - alongside Spain's Cobas - led the campaign last year to unseat Aryzta board members, including Gary McGann and Kevin Toland, and to replace them with directors it backed so as to accelerate a restructuring. Urs Jordi, who is chairman and interim CEO of Aryzta, said the company was focused on delivering on its plans.

Source: Irish Independent January 05, 2021 08:23 UTC