Ashurst advises on recommended takeover of The Restaurant Group plc
12 October 2023
Global law firm Ashurst is advising RBC Capital Markets, as financial adviser to Apollo Global Management, Inc. (AGM) and Rock Bidco Limited (Bidco), on the recommended cash offer by Bidco to acquire the entire issued, and to be issued, share capital of The Restaurant Group plc (TRG). The acquisition is valued at approximately £506 million.
The acquisition is intended to be implemented by means of a Court-sanctioned scheme of arrangement in England & Wales.
TRG is one of the UK's largest hospitality businesses, a significant employer and one of the few UK-listed casual dining groups. TRG currently operates approximately 380 restaurants and pubs throughout the UK. TRG's principal trading brands are Wagamama and Brunning & Price.
AGM is a high-growth, global alternative asset manager. Through its fully integrated investment platform spanning the full risk-reward spectrum from investment grade to private equity, AGM provides innovative capital solutions to businesses and invests in all parts of the capital structure.
The Ashurst team is being led by partnersKaren DaviesandTim Rennie, supported by senior associate Asil Robertson and associates Colin Bugler, Gareth Mair and Patrick Chambers.
