IAWS in €2.3bn bread merger

Cuisine de France owner IAWS has announced a €2.3bn merger with Swiss bakery firm Hiestand. The Irish company already had a 32% shareholding in Hiestand.

Over the weekend IAWS agreed to buy 32% of Hiestand owned by private equity company Lion Capital for €30m and 12.7 million new shares. It will now make an offer for the remaining shares.

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