Get the latest hospitality news and inspiration straight to your inbox. Subscribe to our newsletter.

Rights issue gives green light to Restaurant Group’s Wagamama purchase

Written by:
Written by:
Rights issue gives green light to Restaurant Group’s Wagamama purchase

The Restaurant Group has reported a 92% take up of its rights issue giving the green light for the completion of its Wagamama acquisition.

The owner of Garfunkel’s, Frankie & Benny’s and Chiquito will purchase 133-site Wagamama in a deal that values the company at £559m.

Shareholders have approved its purchase last month with about 60% voting in favour.

The Restaurant Group needed to raise £315m through the issue of 290 million new shares to fund the acquisition, with existing shareholders offered 13 new for nine old shares based at 108.5p.

The acquisition is expected to complete by the end of the year.

Restaurant Group shareholders approve £559m Wagamama purchase>>

Get The Caterer every week on your smartphone, tablet, or even in good old-fashioned hard copy (or all three!). Subscribe today and save 51%

Start the discussion

Sign in to comment or register new account

Start the working day with

The Caterer’s free breakfast briefing email

Sign up now for:

  • The latest exclusives from across the industry
  • Innovations, new openings, business news and practical advice
  • The latest product innovations and supplier offers
Sign up for free