GEN Restaurant Group Receives Non-Binding Letter Of Intent From Nationwide Restaurant Operator
GENK•Non-binding LOI for strategic sale of U.S. restaurant operations
Aug. 10 (Reuters) - GEN Restaurant Group Inc (GENK.O):
- GEN Restaurant Group receives a non-binding letter of intent from a nationwide restaurant operator for a strategic sale of its U.S. restaurant operations.
- The LOI contemplates a potential transaction valued at about $100 million for the restaurant operations alone.
- Under the terms contemplated by the LOI, GEN would retain 100% of its rapidly growing CPG and retail business.
Further company coverage: GENK.O
