Loading…
Loading…
RSTGF (The Restaurant Group plc) is no longer actively trading.
This usually means the company was acquired and taken private, delisted from its exchange, or its ticker has been retired. Every price, valuation, dividend, and analyst figure on this page is frozen at the last available trading session and reads as historical reference — not a current-day signal.
TransUnion and Restaurant Dive report finds room for even greater profitability for nearly half of restaurants via loyalty programs TransUnion and Restaurant Dive report finds room for even greater profitability for nearly half of restaurants via loyalty programs
Shares in Wagamama owner The Restaurant Group fell 3% on Tuesday after PizzaExpress owner Wheel Topco scuppered hopes it might submit a bid that would rival the £701 million ($862 million) offer put forward by private equity fund Apollo Global Management.
Analysts covering Wagamama-owner The Restaurant Group PLC (LSE:RTN) were quick to warn that its takeover offer of 65p per share from Apollo Global Management (NYSE:APO) was too low. Even the market hovered at 66p, looking as if it was awaiting another chapter in the saga.
Wagamama owner The Restaurant Group PLC (LSE:RTN) could be poised to receive another bid after Rock BidCo, a vehicle owned by Apollo Funds, purchase offer of 65p per share was deemed “too low” by analysts. “We do not believe it reflects the quality of the estate (especially having recently exited the challenged leisure business), the freehold asset backing (c £160 million) and the progress it was making across its strategic objectives on margin accretion (250-350bps) and deleveraging (under 1.5x Ebitda),” analysts at Shore Capital said.
Private equity fund Apollo Global Management on Thursday said it had struck a deal to snap up struggling U.K. restaurant operator The Restaurant Group in a deal worth £701 million ($862 million).
Shares in Wagamama owner, The Restaurant Group PLC, have soared 37% after agreeing a bid from Apollo Global Management valuing the business at £506 million. The all cash bid is worth 65p per share, implying an enterprise value of £701 million and a multiple of around 9.0 times TRG's adjusted Ebitda for the twelve months ended July 2 2023.
Shares in Wagamama's owner The Restaurant Group PLC (LSE:RTN) (TRG) are down close to 60% compared to two years ago, but it appears that this year was the final straw for many investors, which have been determined to spark change in the company. Demands over the past six months have come from numerous activist investors, from long-time high-stake shareholders to newer backers with smaller holdings, however, most calls for change have focused on the same few areas.
Wagamama owner Restaurant Group jumped 6% as it announced the departure of chairman Ken Hanna following months of pressure from activist funds wanting a change. Hanna said he would not be standing at the next AGM due to personal reasons.
No recent filings indexed.