Pizza Express owner not planning to make offer for Restaurant Group
![Wagamama | Sharecast photo / Josh White dl the restaurant group wagamama restaurant sign](https://img3.s3wfg.com/web/img/images_uploaded/e/a/dl-the-restaurant-group-wagamama-restaurant-sign_620x350.jpg)
Restaurant Group
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16:45 20/12/23
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The owner of Pizza Express cited "market conditions" on Tuesday as it confirmed that it does not intend to make an offer for The Restaurant Group.
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TRG announced on 26 October that it had received a request for due diligence from Wheel Topco, as it was evaluating a possible offer for the Wagamama owner.
Just two weeks earlier, TRG said it had agreed to be taken over by private equity firm Apollo in a £701m deal. Under the terms of the deal, TRG shareholders will receive 65p in cash per share.