UK - La Tasca at centre of bidding war

Spanish eatery chain La Tasca is at the centre of a bidding war after Tragus upped its bid in response to a competing approach from a Robert Tchenguiz and Kaupthing. Tragus, backed by Blackstone and the operator of the Cafe Rouge and Bella Italia restaurant chains is reported to own over 30% of AIM-listed La Tasca. It made a play for La Tasca last week offering ТЃ96m, before Tchenguiz swooped with a ТЃ98.6m bid. Tragus has now raised its bid to ТЃ99.7m.