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Restaurant Group PLC - London-based restaurant operator, including Wagamama noodle shop chain - Court in Edinburgh sanctions scheme of arrangement for Restaurant Group’s acquisition by Rock Bidco Ltd, a special purpose vehicle of funds managed by Apollo Global Management Inc. The effective date of the scheme is expected to be on Thursday. Apollo is a New York-based alternative asset manager. Its offer of 65 pence per Restaurant Group share in cash back in October valued the equity of Restaurant Group at £506 million and the company as a whole, including debt, at an enterprise value of £701 million. Some London analysts considered the bid too low, and Wheel Topco Ltd, the owner of PizzaExpress Group Ltd, considered a rival bid before backing off in November. Current stock price: 64.83p 12-month change: more than doubled from 29.98p Copyright 2023 Alliance News Ltd. All Rights Reserved.
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