Hostmore To Buy TGI Fridays For £177M
America ı By Rihem Akkouche
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Hostmore To Buy TGI Fridays For £177M : A Strategic Merger
The deal sees Hostmore, which already owns the U.K. franchise of TGI Fridays and operates 89 restaurants across the country, take on the larger company through a reverse takeover. The merged entity will be named TGI Fridays PLC and will trade on the London Stock Exchange, allowing Hostmore to enhance its existing strategy and capitalize on its distinctive brand.A Boost for Hostmore and TGI Fridays
The all-share transaction will result in Hostmore holding 36% of the enlarged company, with TGI Fridays shareholders owning the remaining 64%. This combination is anticipated to provide a robust platform for growth, offering scale and flexibility to accelerate Hostmore's plans and boost its financial prospects.
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