UK - Phoenix-backed Gaucho scraps IPO
Phoenix Equity Partners portfolio company Gaucho has abandoned its plan to float on the London Stock Exchange. The restaurant chain has been owned by Phoenix since August 2006 when it bought it as part of a ТЃ55m secondary buyout from Barclays Private Equity. It was anticipated that the IPO would have valued Gaucho at ТЃ115m including debt, and raised ТЃ50m for the company.
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