ZURICH – Swiss-Irish bakery company Aryzta will go ahead with a 790 million euro ($898 million) capital hike after its shareholders on Thursday narrowly approved the plan.
The embattled company, which makes bread for McDonald’s burgers, overcame opposition from its largest shareholder, Cobas Asset Management, to win support for the plan at its annual general meeting in Zurich.
In a close vote, shareholders with 52.88 percent of the voting rights backed the proposal to issue 900 million new shares, with 46.98 percent against.
To read the rest of the story, please go to: Reuters