Premier Foods Plc to dispose of its interest in Hovis Holdings

 

Premier Foods Plc (LON: PFD) will be disposing of its interest in Hovis Holdings Limited to Endless LLP.

  • The company along with its joint venture partner, The Gores Group LLC was holding minority interest of 49 per cent in Hovis since April 2014.
  • The transaction is for a consider of £37 million, which include the repayment of outstanding loan notes and accrued interest.
  • The company has been continuously working to improve its leverage profile, and this transaction is going to strengthen the financial position of the group.
  • On 6 November 2020, the stocks of the company improved by 1.74% from its previous closing, hovering at around GBX 105.40 at 09:38 AM GMT+1.

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