Fresh activist takes a bite out of Wagamama owner TRG
There are calls for TRG to slim down to Wagamama
Another activist investor has joined in the battle for change at Wagamama owner The Restaurant Group ahead of this week’s annual meeting, where there is expected to be a row over the pay deal for chief executive Andy Hornby.
An investment firm run by financier Derek Vago has held meetings in recent days with Hornby and TRG chairman Ken Hanna to set out ideas intended to boost the value of the company. Its market value is £370 million.
The aim, set out in emails to investors, is to focus TRG on Wagamama. It comes after activist investor Oasis called on the listed company to sell off its Brunning & Price pubs and airport concessions business.
Vago did not disclose how many shares he is responsible
