19th May 2016 11:44
LONDON (Alliance News) - Private equity house Cinven is understood to be weighing an offer for Restaurant Group PLC, after the owner of the Garfunkel's and Frankie & Benny's chains has been battered by a series of profit warnings in 2016, Sky News reported.
Sky said Cinven is in the early stages of evaluating an approach to the board of Restaurant Group, which has seen its shares plunge more than half in the past 12 months amid a flurry of profit warnings. Cinven is the former owner of the Pizza Express restaurant chain.
Sky added another private equity investor, TA Associates, has also been running the numbers over Restaurant Group, though it is unclear whether a bid will emerge.
http://news.sky.com/story/1698794/cinven-eyes-bid-for-ailing-garfunkels-owner
By Sam Unsted; [email protected]; @SamUAtAlliance
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