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Archive Food and Beverage Archive Whitbread sells T.G.I Friday’s chain for £70.4m
Archive Food and Beverage Archive Whitbread sells T.G.I Friday’s chain for £70.4m | Whitbread sells T.G.I Friday’s chain for £70.4m |
| Written by Business Weekly | |
| Wednesday, 31 January 2007 | |
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A streamlining strategy at Luton leisure specialist, Whitbread, continued with the sale of its 45 restaurant strong T.G.I. Friday’s business for £70.4m.
The property interests in 15 of the restaurants will be sold to British Land and the remaining 30 properties and the operating business to T.G.I. Friday’s UK Ltd, a joint venture between Carlson Restaurants Worldwide. and ABN AMRO Capital. The majority of the consideration of £70.4m will be paid in cash on completion, which is expected in March. The remainder will be paid on receipt of consents required for the transfer of certain properties. |
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