UK: Uniq's new majority shareholder looks for buyers
The trustees of Uniq's pension fund is looking to sell at least part of its 90.2% stake in the UK convenience food maker - shares they only acquired days ago.
Uniq gave the trustees the stake in its business in exchange for clearing the company's pension deficit, which stood at over GBP400m (US$642m).
The sandwich-to-desserts maker said today (1 April) that the trustees have appointed Spayne Lindsay & Co. to advise on a process to sell "all or part" of its stake in the business.
Uniq said its board would work closely with the trustees "to maximise value for all stakeholders". The company added it had received "a number of indications of interest from third parties regarding a potential offer for, or investment in, the company".
As a consequence of Uniq's pension trustees taking the 90%-plus stake in the business, the company's shares are now listed on London's Alternative Investment Market. Trading in the shares began this morning.
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