Ready meals maker What's Cooking up on potential Savoury unit sale

Whats Cooking NV

25/03/2024 09:02

** Shares in What's Cooking  WHATS.BR  rise more than 16%
    ** The Belgium-based ready meals co said preliminary
discussions have begun on the potential sale of its Savoury
Confectionery Business Unit
    ** The announcement comes as part of a company process to
explore strategic options and maximise shareholder value
    ** KBC ("buy") says news "surprised" them, welcomes it; ups
PT by 19% to 95 euros
    ** The broker also concludes that the Ready Meals Business
unit is not for sale
    ** The company adds no commitment has been made and no terms
of a possible transaction are known
    ** What's Cooking's savoury subsidiaries in Belgium, the
Netherlands, France, UK and Germany that produce, slice and sell
savoury cold cuts represent EUR 464 million ($501.44 million)of
the company's EUR 832 million consolidated turnover in 2023
    ** Shares are on track for their best day in a month

($1 = 0.9253 euros)

 (Reporting by Olivier Cherfan)
 ((olivier.cherfan@thomsonreuters.com))