Asset Management

Restaurant Group shareholders approve Wagamama buy

Almost 40% of shareholders vote ‘no’ on controversial deal, but it is not enough to carry the day

Shareholders in the Restaurant Group have voted to approve its £559m takeover of Asian-themed dining chain Wagamama from the private equity firm Duke Street Capital.

The deal passed by 60.4% to 39.6%, the company announced on November 28, with the substantial ‘no’ vote testament to the controversy surrounding the acquisition, which was publicly opposed by several significant shareholders.

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