UPDATE 1-Uniq sells French unit Marie for 73 mln euros

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Fri Jun 26, 2009 3:27am EDT

* France's LDC pays 60 mln euros in cash, takes on debt

* Uniq shares rise 7.8 percent

(Adds details, shares)

LONDON, June 26 (Reuters) - British convenience food maker Uniq UNUNI.L agreed to sell its French business, Marie, to France's LDC for 73 million euros ($102 million), including debt, as it moves to focus on its UK operations. Poultry and delicatessen firm Groupe LDC will pay 60 million euros in cash and take on Marie's debts of about 13 million euros, Uniq said in a statement on Friday.

The deal confirms a story by Reuters on Wednesday saying an agreement was likely to be announced this week. [ID:nWLA7372]

Shares in Uniq, which gained 28 percent on Wednesday, were up 7.8 percent at 27.75 pence at 0713 GMT.

Uniq, which supplies Marks & Spencer, confirmed it will use some of the proceeds from the disposal to pay off 25 million pounds of debt.

"The resultant reduction of our debt would strengthen our balance sheet and would be a significant step towards focusing Uniq on the UK," Chief Executive Geoff Eaton said. ($1=.7177 Euro) (Reporting by Victoria Bryan; Editing by Rosalba O'Brien)

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