UK's Restaurant Group jumps on agreeing to sell leisure business to Big Table Group

Restaurant

11/09/2023 08:15

** Shares of Wagamama owner Restaurant Group  RTN.L  up 5%
to 49.9p in early trading
    ** Among top gainers across London stocks; top gainer on
FTSE small cap index  .FTSC 
    ** Co agreed to sell its loss-making leisure business, which
includes brands Frankie & Benny's and Chiquito, to Cafe Rouge
owner Big Table Group to bolster margins and cut debt
    ** RTN will pay 7.5 mln pounds ($9.39 mln)to Big Table as
part of the deal
    ** Adds, buyer will pay Co a nominal value of 1 pound
    ** Shares hit highest levels since April 23
    ** Shares up 52% YTD as of last close


    
   


($1 = 0.7990 pounds)

 (Reporting by Anchal Rana in Bengaluru)
 ((Anchal.Rana@thomsonreuters.com; +91 9915609050;))