UK's Restaurant Group gains on acquisition by Apollo Global

Restaurant

12/10/2023 08:27

** Shares of Wagamama owner Restaurant Group  RTN.L  jump
37% to 63.3p; top gainer across London stocks
    ** RTN says Apollo Global  APO.N  -owned and managed vehicle
to acquire co for 506 million pounds ($623.80 million) in cash
    ** Under terms of the deal, co's shareholders will get 65
pence for each share held, which represents a premium of about
34% to stock's last closing price
    ** Apollo says it believes development of co will be best
served as a private business, with access to capital and the
benefit of a long-term investment approach
    ** As of last close, stock had risen 106.46% YTD


($1 = 0.8112 pounds)

 (Reporting by Zainab Saifuddin Saifee in Bengaluru)
 ((Zainab.SaifuddinSaifee@thomsonreuters.com; +91 8766460080;))