In the meeting, Sheikh Abdullah Bin Zayed stressed on peace based on 'two-state solution' for Israel and Palestine
uae1 hour ago
Wagamama was sold last month to Frankie & Benny's owner, The Restaurant Group, for £559 million.
Following the massive sale deal, Wagamama's nearly 4,000 staff will take home a share in a £4 million (Dh18.62 million approx) Christmas bonus.
The decision was made by outgoing chief executive Jane Holbrook and Wagamama's former private equity owner DukeStreet, and will see staff take home up to £2,000 (Dh9,000 approx) each, reported Metro.uk.
The chefs and managers will bank £2,000 each, while waiting staff will get £1,000, provided they have worked at Wagamama for over 12 months.
Duke Street acquired Wagamama in 2011 for £215 million. The new owner, Restaurant Group chief executive Andy McCue, plans to explore international growth opportunities for Wagamama and expand across the UK and pilot pan-Asian cuisine 'food-to-go' offerings.
As part of the deal, Emma Woods will replace Holbrook as chief executive, and chairman Allan Leighton will join the Restaurant Group board.
Wagamama has outperformed the market, booking sales of £306.7 million and with an operating profit of £43 million last year. While the takeover was approved by Restaurant Group shareholders, there was a significant level of opposition.
Just under 61 per cent of shareholders supported the deal, which will be paid for through a combination of a £315 million rights issue and a £220 million revolving credit facility.
In the meeting, Sheikh Abdullah Bin Zayed stressed on peace based on 'two-state solution' for Israel and Palestine
uae1 hour ago
Pakistan have not yet named their final 15-man squad for June's T20 World Cup
cricket2 hours ago
Some riders have also opted to stay home, heeding authorities' advice
weather2 hours ago
Ely Buendia, the band's vocalist and guitarist, shares a teaser of their upcoming shows
entertainment3 hours ago
The prices had slipped below $2,300 per ounce on Wednesday evening but recovered later in the day
uae5 hours ago
Sabeer's story is a blend of facing challenges head on, introducing ideas and demonstrating unwavering determination — all showcasing the strength of resilience and the relentless pursuit of aspirations
kt network5 hours ago
Travellers advised to take extra travel time, keep checking updates
uae5 hours ago
While some devised makeshift rain defences, others who were travelling set out extra early to the airport to catch their flights
uae7 hours ago