Gaucho goes private

31 May 2002 by
Gaucho goes private

Restaurant group Gaucho Grill will be removed from the Alternative Investment Market within a few weeks after being bought by a company founded by members of Gaucho's management team.

The company, Pan European Restaurants, set up for the purpose of taking Gaucho private, now owns 90.7% of the group, which under the Companies Act means it can now force the remaining shareholders to sell their shares in the business.

<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /?>

Earlier this month, Gaucho announced that its independent directors had reached an agreement to sell the entire share capital of the group to Pan European.

Pan European is 24% owned by the Gioma group, a company in which Gaucho's chairman Zeev Godik and operations manager Jan Geenemans hold an major stake. The other 76% of Pan European is owned by investment company Furtado, which is controlled by the same group of private investors who control Gioma.

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking