Ashurst Advised on £93.4 million Fulham Shore Takeover

Ashurst Advised on £93.4 million Fulham Shore Takeover

The international law firm Ashurst is providing legal advice to Peel Hunt LLP regarding the recommended cash offer for The Fulham Shore Plc, an AIM-listed company, amounting to approximately £93.4 million.

Bidco, which is a newly formed entity and fully owned subsidiary of TORIDOLL Holdings Corporation, a company listed on the Tokyo Stock Exchange, is making the offer.

Fulham Shore currently possesses two restaurant businesses that trade under the Franco Manca and The Real Greek brands. These businesses operate a total of 97 restaurants within the UK and two restaurants internationally.

TORIDOLL and restaurant sector specialist fund Capdesia have agreed to partner for the acquisition of Fulham Shore.

The partnership intends to leverage its unique combination of industry expertise and resources to expand the Franco Manca and The Real Greek brands in the UK and globally.

The cash consideration that Bidco will pay to Fulham Shore Shareholders under the Acquisition is to be funded by equity financing from TORIDOLL, supported by a bank guarantee denominated in Sterling from MUFG Bank.

Peel Hunt is providing financial advisory services to Bidco, TORIDOLL and Capdesia.

The team at Ashurst was headed by Partners Tom Mercer and Tim Rennie, supported by Associates Kirsty Huen and Roshni Mehra, and Trainee Aoife Weir.