November 14, 2018 / 1:22 PM / a month ago

Investors GrizzlyRock, Vivaldi oppose Restaurant Group's purchase of Wagamama

Nov 14 (Reuters) - Two shareholders of Restaurant Group Plc on Wednesday called on the owner of Frankie & Benny’s to cancel its proposed 357-million-pound ($463 million) deal to buy the Wagamama noodle chain.

Shareholders GrizzlyRock Capital and Vivaldi Asset Management, which manage investment funds that jointly own 1.9 percent of Restaurant Group, said here the company had not considered risks related to executing the deal.

Restaurant Group, most of whose restaurants and gastropubs focus on American, TexMex and traditional British cuisine, had announced a deal last month to buy Wagamama, to expand its chain of pubs and airport and shopping mall eateries. ($1 = 0.7712 pounds) (Reporting by Muvija M in Bengaluru; Editing by Shinjini Ganguli)

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