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Primark owner AB Foods down on discounted share sale

<html xmlns="http://www.w3.org/1999/xhtml"><head><title>BUZZ-Primark owner AB Foods down on discounted share sale</title></head><body>

** Shares of Associated British Foods ABF.L slip 3.2% to 2,576 p

** Stock among top losers on the FTSE 100 .FTSE index

** UBS says Howard Investments has agreed to sell about 10.3 mln shares in Primark owner AB Foods to raise gross proceeds of about 262 mln pounds ($332.74 mln)

** UBS is the bookrunner for the placing

** Issue price of 2,550 pence is at a 4.1% discount to last close on May 30

** UBS says combined shareholding of Howard Investments and parent co Wittington Investment in ABF expected to be about 56.1% following completion of the placing

** ABF stock up 12.4% YTD, as of last close

($1 = 0.7874 pounds)

Reporting by Echha Jain in Bengaluru


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