Cuisine de France owner's shares surge on French sale agreement

Shares in Cuisine de France owner Aryzta surged by as much as 9% on the group announcing a deal to finally sell the bulk of its stake in French frozen food retailer Picard.

The Irish-Swiss baked foods business said it has received a €156m binding offer, from Invest Group Zouari (IGZ), for 43% of its Picard stake.