Robert Tchenguiz ups the stakes for La Tasca

04 April 2007 by
Robert Tchenguiz ups the stakes for La Tasca

Robert Tchenguiz has upped the stakes in the bidding war for Spanish tapas chain La Tasca with a 200p per share bid, made through his investment vehicle R20 and Icelandic bank Kaupthing, which values the company at £104.2m.

The price has edged up since Café Rouge owner Tragus, which already owns a third of La Tasca's share capital, made an initial offer of £96m on Wednesday 28 March and upped their bid to £99.7m on Friday 30 March.

Tragus was forced into a higher bid after Tchenguiz and Kaupthing tabled £98.6m through Tchenguiz's investment vehicle R20, despite La Tasca's board already having recommended the original 185p-a-share offer from the Blackstone Group owned Tragus.

R20 said that it, in conjunction with Kaupthing, had already purchased a 3.06 % stake in La Tasca at 200p per share this morning.

Investors wait for Tchenguiz's next move in La Tasca bidding war >>

Tragus ups offer for La Tasca >>

Tchenguiz trumps Tragus bid for La Tasca >>

By Christopher Walton

E-mail your comments to Christpher Walton]( Tchenghuiz ups the stakes for La Tasca) here.

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