RESTAURANT group Gioma is set for flotation following a proposed buyout by investment company Parambe.
Shareholders of Parambe are expected to agree to the £6.3m acquisition of Gioma's three Latin American restaurants in London. The group has two Gaucho Grills plus a 280-seat restaurant, Down Mexico Way.
Nicola Horlick, the fund manager dubbed City superwoman who was embroiled in a much-publicised dispute last year when she left merchant bank Morgan Grenfell, is to be a non-executive director.
The Dutch restaurant group is to keep its Italian chain, Calzone, which has four branches in London.
"The concept of Calzone is still premature and will carry on under the holding company in Holland," said Zeev Godik, chief executive of Gioma.
The holding company, Gioma Group BV, has 40 restaurants across Holland, Belgium and Switzerland.
The cash injection from the acquisition will enable the group to add four Gaucho Grills and two Down Mexico Ways over the next year.
"We are looking at cities and suburbs such as Manchester, Glasgow and possibly Dublin," said Godik.
Parambe, to be renamed Gioma Restaurants, has ditched its art dealing subsidiary to concentrate on the restaurant industry.