Caring's Côte Brasserie chain nears £120m sell-off
Private equity firms will this week submit second-round bids to acquire Côte Brasserie, the French restaurants chain backed by the business tycoon Richard Caring, for at least £120m.
TA Associates and Investcorp are among the four bidders seeking to acquire the fast-growing company, which has nearly 40 restaurants.
Mr Caring and other investors put Côte Brasserie, which sells classic French food, up for sale last year by hiring advisers at the corporate finance firm Hawkpoint.
Its biggest shareholder, Mr Caring is best-known for owning posh London restaurants, including The Ivy, Scott's and Le Caprice.
He is worth an estimated £700m, and also owns Annabel's nightclub and Surrey's Wentworth Club.
Hawkpoint is selling Côte on a multiple of more than nine times underlying earnings of £13m to £14m for this year.
All parties either declined to comment or did not return calls.
Sales of the tablet are set to fall again, say analysts
World's most lethal spider found under a bunch of bananas
I Am Bread could actually be a challenging and nuanced title
Company decides to go for simply scary after criticising other sites for 'creepy and targeted' advertising
Footage shot by a passerby shows moment an ill man was carried out of his burning home
Peter Biaksangzuala died from his injuries in hospital on Sunday
- 2 Ebola outbreak: What is bushmeat – and is it to blame for the disease that has killed thousands?
- 4 Meet Thea, Norway's 12-year-old child bride
Kobani: Fifteen-year-old boy taken captive with suspected jihadist 'shot in the head by militant group' fighting against Isis
Ebola outbreak: What is bushmeat – and is it to blame for the disease that has killed thousands?
Isis fighters 'crucify' 17-year-old boy in Syria
Oscar Pistorius sentencing: Olympic star must serve 10 years, prosecutor urges
Kentucky gang rape: 15-year-old boy left in critical condition after sexual attack by group at party
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Sorry Judy Finnigan – Ched Evans is no less sickening than an alleyway rapist
Residents should throw a street party and mix with immigrant neighbours, councils told
Workers 'could be forced to pay £5 a week' to get benefits
Russell Brand threatened with arrest after filming outside Fox News headquarters
Amal Alamuddin calls for the return of the Elgin Marbles from Britain: 'Injustice has persisted for too long'
iJobs Money & Business
£18 - 23k + Benefits: Guru Careers: We are seeking a Customer Service Executiv...
£60 - 65k + Benefits: Guru Careers: We are seeking a ASP.NET Web Developer / ....
£60,000 - £80,000: Saxton Leigh: Our client is an leading Asset Manager based...
£27000 - £32000 Per Annum: Clearwater People Solutions Ltd: Our large charity ...