Investment holding company Brait, whose largest shareholder is Christo Wiese, has entered into an agreement to sell its stake in UK-based Iceland Foods to a company led by the supermarket’s founder and CEO, it announced on Monday.
The proceeds will be used to repay the company’s debt. In February, Brait had a R6.5bn convertible bond that matures in September and debt on its revolving credit facility that matures in 2023.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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