Blackstone portfolio company Tragus, the owner of the Bella Italia and Cafe Rouge restaurant chains has announced that it will not launch another bid for La Tasca. The AIM-listed 70-site strong Spanish restaurant chain has been the subject of a bidding war between Tragus and a consortium led by property entrepeneur Robert Tchenguiz with Icelandic bank Kaupthing. The Tchenguiz-team appears to have won the asset after offering £104.2m to delist it, compared to Tragus' last bid of £99.7m.
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