FRGI - Fiesta Restaurant to be acquired by ARB for $8.50/share
2023-08-07 08:18:11 ET
- Fiesta Restaurant Group ( NASDAQ: FRGI ) has entered into a definitive agreement under which a wholly owned subsidiary of ARB will acquire the Co. in an all cash transaction.
- Upon closing the transaction, Fiesta will operate as a privately held company and Pollo Tropical will remain based in Miami, FL. Fiesta’s leadership team will continue to operate Pollo Tropical as an independent brand within the ARB platform.
- Under the terms, which has been unanimously approved by Fiesta’s Board of Directors, Fiesta common stockholders will receive cash consideration of $8.50/share.
- The transaction is expected to be completed in the fourth quarter of 2023.
- FRGI +8.14% premarket to $8.5.
For further details see:
Fiesta Restaurant to be acquired by ARB for $8.50/share