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14 September, 2006 - 14:00 By Staff Reporter

Two Gondola stakeholders sell interests in firm

Two major stakeholders in Gondola Holdings, the Herts-based owner of Italian restaurant chains, Pizza Express, ASK and Zizzis, have agreed to sell their stakes in the firm to private equity firm, Cinven, at 400 pence a share, 15 pence below the price Cinven is considering for outside investors.Two major stakeholders in Gondola Holdings, the Herts-based owner of Italian restaurant chains, Pizza Express, ASK and Zizzis, have agreed to sell their stakes in the firm to private equity firm, Cinven, at 400 pence a share, 15 pence below the price Cinven is considering for outside investors.

Gondola has allowed Cinven access to its book in order to conduct due diligence before a potential bid of between £550-560m is made for the St Albans firm.

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