Restaurant Group Shares Surge on Report of Cinven Bid Interest

Restaurant Group Plc shares rose as much as 11 percent in London on a report that private-equity firm Cinven Ltd. is considering a bid for the U.K. owner of Frankie & Benny’s.

Cinven is in the early stages of evaluating an approach, Sky News reported, without saying where it got the information. Other parties including TA Associates Management LP are also looking at the possibility of bidding, the broadcaster said, citing undisclosed sources. The shares rose as much as 36.4 pence to 354.5 pence, giving the London-based company a market value of 713 million pounds ($1.04 billion).