November 1, 2018 / 10:23 AM / 16 days ago

Aryzta shareholders narrowly approve capital increase

ZURICH, Nov 1 (Reuters) - Aryzta will go ahead with an 790 million euro ($898 million) capital hike after its shareholders on Thursday narrowly approved a plan to raise more dough for the Swiss-Irish bakery company.

The embattled company overcame opposition from its largest shareholder, Cobas Asset Management, to win support for the plan at its annual general meeting in Zurich.

In close vote, shareholders with 52.88 percent of the voting rights backed the proposal to issue 900 million new shares, with 46.98 percent against.

$1 = 0.8794 euros Reporting by John Revill; Editing by Michael Shields

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