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Carluccio's agrees £90.3 million takeover

LONDON (Reuters) - British cafe and restaurant chain Carluccio's <CARL.L> agreed to a 90.3 million pound takeover from Landmark Group, a retail company based in Dubai, sending its shares soaring.The offer of 142 pence in cash per Carluccio's share on Thursday, represents a 48 percent premium to the closing price on September 2, the last business day prior to the announcement of the takeover deal.

02 September 2010 12:38 GMT

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Shares in the Italian-themed restaurant chain, which was founded by TV chef Antonio Carluccio in 1999, gained 42.7 percent to 137 pence, their highest level for over two years, following the approach.

The company said that Landmark, which holds the franchises for Carluccio's in the Middle East and was acting through its investment company C1 Acquisitions, holds or has undertakings to accept the offer from 36.5 percent of Carluccio's share capital.

A spokesperson for the company would not comment on whether London restaurant entrepreneur Richard Caring, who is the company's largest shareholder with a 12 percent stake, was one of the shareholders who had indicated he would accept the offer.

(Reporting by Sarah Young; Editing by Matt Scuffham)

(c) Reuters 2012. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

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