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Wagamama in talks with venture capitalists over £50m bid

07 June 2004
Wagamama in talks with venture capitalists over £50m bid

Noodle-bar chain Wagamama is in talks with venture capital firms over a possible buy-out.

The group has put plans for a £50m stock market flotation on hold until it is clear whether a deal will be struck.

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Neill: twin-track approach

The move would also give Neill a chance to compare what a bidder might pay against the flotation valuation.

Wagamama, which now has 24 restaurants, is understood to have held talks with a number of venture capitalists, and the highest bid received is thought to be in the region of Á‚£50m.

The firm plans to open 10 restaurants this year, and latest sales figures, for the year to April, are expected to be strong.

Should the firm end up going the flotation route, Neill has said the money raised will be used for further expansion of the chain.

by Nic Paton

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