Edmund Truell's buyout venture Pension Corporation has increased to 20% its stake in Aga Foodservice, the UK manufacturer of the household Aga oven, as a potential precursor to a full takeover bid.
Aga has a pension scheme that is valued at £770m (â¬1.1bn), or more than twice its £371m market capitalisation. Shares in the ovenmaker, which released a pre-close trading update this morning, fell 0.25p to 320.25p by 10:05 GMT.
