date:Jan 28, 2014
tand that the company is making progress with the pension trustees but note that this transaction places further pressure on the cash generation of its grocery business, as any cash generation from the bread business is unlikely to ever make it back to Premier. Accordingly if Premier wish to normalise its capital structure a combination of debt refinancing and a rights issue are likely to be required, Panmure Gordon analyst Damian McNeela wrote in a note to investors.
The transaction will prov