Brait to sell its 63% stake in Iceland Foods to Newco

AFRICA – Brait, an investment holding company, has sold its 63.1% interest in Iceland Foods to a newly established company NewCo in line with its revised strategy to maximise value realisation from its assets over the next five years.   NewCo is wholly owned by Sir Malcolm Walker CBE, Iceland Foods founder and executive chairman, and Tarsem Dhaliwal, its CEO. Iceland Foods will now be 100% owned by Sir Malcolm Walker CBE, Tarsem Dhaliwal and their related parties.   NewCo will pay Brait £115m (US$130.4m) for its stake, valuing the Iceland Foods…

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