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Aryzta sells remaining stake in Origin Enterprises

Michele Maatouk

LONDON (ShareCast) - (ShareCast News) - Swiss food group Aryzta (Other OTC: ARZTF - news) has placed its entire stake in Irish agri-services company Origin Enterprise for €228.5m. Origin said Aryzta has placed 36.3m shares, equivalent to 29% of the company's issued share capital at a price of €6.30 per share.

The placing is expected to complete on 29 September.

Aryzta's chief executive officer, Owen Killian, said: "Origin Enterprises (LSE: OGN.L - news) is an outstanding company and has carved out a niche as the most innovative, research based Agronomy Business in Europe.

"The long-term prospects for Origin are excellent and I wish Tom and his colleagues continued success. I will resign as Chairman of Origin Enterprises in October having held the role since we launched the business in 2006." At 1457 BST, Origin shares were down 4.2% at 6.80p.