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Can the sale of its US business boost Greencore shares?

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Greencore US business

CEO Patrick Coveney claimed that the reason that the company opted to sell was ‘no more complex than we got what we saw as a knockout offer’. Just over £500 million of that will go to a special dividend for investors, with the rest used to reduce its debt pile from £500 million to £200 million.

This leaves its focus firmly on the UK, in which it already dominates, and will make Tuesday’s full year figures interesting reading.

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This article is brought to you in association with Spreadex. All opinions expressed in this article are from the author and do not necessarily represent the opinions of The Armchair Trader. You can find out more about Spreadex products and services here, or find more articles from Connor Campbell here.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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