Lion Capital has made a paper profit of more than Ã¢ÂÂ¬40m ($62m) in only four months following the sale of its 32% stake in Swiss baking company Hiestand.

Lion Capital yesterday received shares worth around â¬200m in Aryzta, a combined group formed by trade buyer IAWS' merger with Hiestand, as well as â¬30m from the sale.

Toby Lewis

Hiestand

BNP Paribas

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Lion reaps reward from baking buy

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