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  5. IN BRIEF: Restaurant Group takeover by Apollo funds now complete

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IN BRIEF: Restaurant Group takeover by Apollo funds now complete

Thu, 21st Dec 2023 10:14

Restaurant Group PLC - London-based restaurant operator, including Wagamama chain - Takeover by Rock Bidco Ltd, a special purpose vehicle owned by funds managed by Apollo Global Management Inc affiliates, becomes effective after scheme of arrangement is sanctioned on Wednesday. The 65 pence per share offer from New York-based asset manager Apollo valued Restaurant Group at GBP701 million. Shares are suspended from trading in London from Thursday morning, cancellation is expected to take effect from the market open on Friday. Restaurant Group board members step down, effective immediately, including Chair Ken Hanna. Chief Executive Officer Andy Hornby and Chief Financial Officer Mark Chambers will retain their positions.

By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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