May

Refinancing of Tragus Group Holdings

On 25 May 2006, L&G Ventures announced the completion of a £138 million refinancing of their portfolio company Tragus Group Holdings (Tragus). Tragus is one of the UK's leading restaurant businesses, operating all day dining restaurants, predominantly under the Café Rouge and Bella Italia brands, in addition to a number of complementary brasseries. It was acquired from ECI Partners in January 2005 in a BIMBO backed by L&G Ventures.

Tragus is one of the largest mid-market restaurant chain operators in the UK, with 160 sites across the country serving over 13 million meals every year.

Canaccord Genuity's role consisted of advising Tragus and L&G Ventures on the amount and structure of new debt they wanted to raise, presenting the latest company information to a number of banks, inviting refinancing proposals and negotiating the terms of the new debt facilities.

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