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Gaucho Grill confirms £125m buyout

18 December 2007 by
Gaucho Grill confirms £125m buyout

Argentine steak-house operator Gaucho Grill has confirmed a £125m buyout led by founder Zeev Godik, according to reports today.

The company has been locked in talks with mezzanine finance house Independent Capital Group, however this buyout marks a £15m premium above the £110m it sought through a stock market flotation abandoned in November.

Gaucho Grill abandoned its flotation plans with observers citing "highly volatile stock- market conditions" before profit warnings from casual dining operators Clapham House Group and Regent Inns affected confidence in restaurant stocks.

The Argentine themed chain operates 11 restaurants around the world including nine in London, one in Manchester and its original site in Amsterdam.

Buyout group seeks Gaucho restaurants >>

Gaucho confirms it's £100m return to the stock market >>

Gaucho Grill to launch two new restaurants >>

By Christopher Walton

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