The will they won’t they drama of restaurant chain Tragus and its possible route to the London Stock Exchange continues – much as it did for the Nescafé couple in the late eighties – with a report in today’s Financial Times suggesting it will happen in 2008 if at all.
Chief executive of Tragus Graham Turner is quoted in the paper as saying “we continue to look at out options but if we did decide to float it would be at the start of next year”.
The Café Rouge owner had been considering such a route to grow the business when it was snapped up by private equity company Blackstone last December as this Caterer and Hotelkeeper story from October 2006 shows.
If Tragus, which bought Strada earlier this year, does list it’s predicted to be valued at around £500m, which should see Blackstone get a rather nice return on the £267m it paid for the business.
Whatever the eventual decision about whether to list or not is, Thank God service at the company's high street restaurants doesn't take this long.
Tragus to focus on Strada and Café Rouge>>
Stock market flotation remains an option for Café Rouge owner>>
Blackstone deal shows the value of good management at Tragus>>
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