Global law firm Ashurst is advising Peel Hunt LLP on the approximately £93.4 million recommended cash offer for AIM listed company The Fulham Shore Plc (the "Fulham Shore") by Bidco, a newly incorporated company established as a fully owned subsidiary of the Tokyo Stock Exchange listed company TORIDOLL Holdings Corporation.
Fulham Shore currently owns two restaurant businesses trading under the Franco Manca and The Real Greek brands which operate a combined 97 restaurants in the UK and two internationally.
TORIDOLL and restaurant sector specialist fund Capdesia have agreed to partner in relation to the Acquisition, with the intention to bring their unique combination of industry expertise and resources to grow the Franco Manca and The Real Greek brands across the UK and internationally.
The cash consideration payable by Bidco to Fulham Shore Shareholders pursuant to the Acquisition will be financed by equity financing to be provided by TORIDOLL and backed by a Sterling-denominated bank guarantee provided by MUFG Bank.
Peel Hunt is acting as financial adviser to Bidco, TORIDOLL and Capdesia.
The Ashurst team was led by partners Tom Mercer and Tim Rennie, assisted by associates Kirsty Huen and Roshni Mehra, and trainee Aoife Weir.
