Private equity firm Navis Capital Partners is considering selling its Michelin-starred Chinese restaurant chain Imperial Treasure, according to people with knowledge of the matter.
(Bloomberg) — Private equity firm Navis Capital Partners is considering selling its Michelin-starred Chinese restaurant chain Imperial Treasure, according to people with knowledge of the matter.
The Southeast Asia focused buyout firm is seeking an enterprise value of as much as S$500 million ($371 million) from the potential sale, said the people, asking not to be named as the process is private. Navis is asking financial advisers to submit proposals for a deal, the people said.
Deliberations are still at an early stage and the private equity firm could decide not to proceed with the divestment, the people said. A representative from Navis declined to comment.
Founded in 2004, Imperial Treasure has more than 20 restaurants across locations including Singapore, Shanghai, Guangzhou, Hong Kong, London, Incheon and Paris, according to its website. Navis bought control of Imperial Treasure in 2015 and paid S$60 million to S$80 million for the deal, Bloomberg News reported that year.
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