<\/p>\n
Primark could join the FTSE 100 (pic: DB Media Services)<\/p>\n
High street fashion chain Primark is to become an independent listed company under a plan announced by its parent group Associated British Foods.<\/p>\n
ABF\u2019s other business, FoodCo, will also be listed, with its shareholders retaining stakes in both businesses. <\/p>\n
The move aims to provide clearer investment propositions and enhance investor understanding for each distinct business. <\/p>\n
Primark has 486 global stores and revenue of about \u00a39.5 billion. FoodCo generates about \u00a39.8bn in annual revenue across 52 countries. <\/p>\n
The demerger is expected to incur approximately \u00a375 million in one-off separation costs.<\/p>\n
Both Primark and FoodCo are anticipated to be listed on the London Stock Exchange and potentially become FTSE 100 constituents, with the demerger intended to be effective before the end of 2027.<\/p>\n
ABF\u2019s largest shareholder. Wittington is supportive of the proposed demerger and remains committed to maintaining majority ownership of both Primark and FoodCo.<\/p>\n
Michael McLintock, chair of ABF, said: \u201cThe board has now completed its in-depth review of the structure of ABF and has concluded that a demerger of Primark is the best way to maximise long-term returns for shareholders, reflecting Primark\u2019s scale today and the need for a better understanding of the Food business.<\/p>\n
\u201cThe opportunities ahead for both Primark and FoodCo are considerable and the board firmly believes that each will thrive as an independent entity.\u201d<\/p>\n
George Weston, chief executive, said: \u201cThis is an important step in the evolution of ABF. For our Food business, the separation will enable greater understanding of the breadth and strength of our differentiated portfolio and its long-term growth opportunities as the only FTSE100 pure play food producer. <\/p>\n
\u201cFor Primark, it enables the creation of appropriate governance to maximise the future potential offered by Primark\u2019s powerful brand, strong customer proposition and opportunities in existing and new markets.\u201d<\/p>\n
\t #Primark #independent #listed #company #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
Primark could join the FTSE 100 (pic: DB Media Services) High street fashion chain Primark…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[9384,272,865,306,9385,9387,9388,9386],"_links":{"self":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/4415"}],"collection":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4415"}],"version-history":[{"count":0,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/4415\/revisions"}],"wp:attachment":[{"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}