November 16, 2018 / 8:16 AM / 7 months ago

Top-5 shareholder in Restaurant Group says backs deal for Wagamama

LONDON, Nov 16 (Reuters) - JO Hambro, a top-5 shareholder in Restaurant Group, said it backed a proposed 357 million pounds ($456.39 million) deal to buy noodle chain Wagamama.

While the deal was expensive at the headline level and would leave the company more leveraged, it would also ultimately be faster growing, more diversified, sustainable and cheaper, it said.

“We are gobsmacked by the level of negative headlines this deal has created. We will take no further part in the debate. We support the deal,” fund manager Alex Savvides said in a comment on the company’s website. ($1 = 0.7822 pounds) (Reporting by Simon Jessop; editing by Iain Withers)

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