Slaughter and May is advising The Restaurant Group plc (“TRG”) on the recommended acquisition of its entire issued and to be issued share capital by Rock BidCo Limited, a special purpose vehicle indirectly owned by the Apollo Funds, managed by affiliates of Apollo Global Management, Inc.
Under the terms of the acquisition, each TRG shareholder will be entitled to receive 65 pence in cash for each TRG share. The acquisition values the entire issued and to be issued share capital of TRG at approximately £506m on a fully diluted basis. The transaction will be effected by means of a scheme of arrangement. The transaction is conditional on, amongst other things, approval by TRG shareholders and is expected to complete in early 2024.
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. It also operates a multi-brand Concessions business which trades principally in UK airports.
Slaughter and May has been working closely with TRG’s General Counsel, Andrew Eames.
Charlotte Lazarowicz / Trainee
Namera Tanjeem / Trainee
Aasha Kimpton / Trainee
James Ng / Trainee