Premier Foods: sells frozen foods, cuts 600 jobs

London / UK. (pf) Premier Foods PLC reported that it was selling off its frozen foods business as it revealed that comparative sales during the first six months of the year are expected to dip, hit by competition for bread and rising wheat prices. The company is understood to already in talks with parties about buying its frozen foods group, acquired with the 1,2 billion GBP purchase of RHM PLC in December 2006 («Hovis», «Mr. Kipling», «Bisto» …), which generates annual sales of 50 million GBP.

Zimbabwe: 16 business leaders arrested

Harare / ZW. (wib) Police arrested 16 more business leaders in a crackdown on those suspected of violating the government´s order to slash prices by 50 percent, the official media reported this days. The mandated price cuts are a desperate attempt to confront inflation that has spun out of control during Zimbabwe´s economic crisis.

Pret A Manger: aiming for IPO

London / UK. (wib) Sandwich chain Pret a Manger Limited plans to appoint bankers this autumn for a 500 to 700 million GBP initial public offering (IPO), The British Sunday Express reports citing an unnamed source. The paper added that Pret advisor NM Rothschild has told private equity firms that the chain could also be sold.