ABN AMRO Capital, in association with US-based Carlson Restaurants Worldwide, has agreed to acquire 45 TGI Friday’s restaurants in the UK from Whitbread Plc. As the global leader in the casual dining industry, Carlson Restaurants Worldwide is the master franchisor of the TGI Friday’s brand, and with this acquisition the UK will become the largest market in which Carlson Restaurants Worldwide has ownership outside of the US. ABN AMRO Capital will take a majority stake in the business with 60% ownership, and Carlson Restaurants Worldwide will own the remaining stake with 40% ownership. The transaction, which is expected to complete in early March subject to customary approvals, values the business at £70.4m. Barclays Bank will provide senior debt facilities.
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