Pizza Express, which is majority owned by Chinese firm Hony Capital, said it had also placed the business up for sale. Hony Capital acquired the largest private hospital in Shanghai, Yangsi Hospital, through its hospital management group. Pizza Express went through a restructuring in the summer to cut its rental costs, ... is majority-owned by Chinese investor Hony Capital, which bought it for £900m in 2014. Latest News; ... Hony Capital burned by Pizza Express as bondholders agree deal for struggling restaurant chain. 985. It has over 470 restaurants across the United Kingdom and 100 overseas in Europe, Hong Kong, China, India, Indonesia, Kuwait, The Philippines, The United Arab Emirates, Singapore and Saudi Arabia. Leveraging its domestic and international expertise, Hony Capital will work together with the PizzaExpress management team to drive continued growth both in the UK and internationally, with a particular focus on expansion in China. Pizza Express is the largest casual dining restaurant operator in the UK, and this is the largest deal in the European restaurant sector in the past five years. MailOnline contacted both Pizza Express and Hony Capital, neither of which could be reached this afternoon. The group is owned by Hony Capital, a Chinese company that bought Pizza Express in 2014 in a £900m deal with hopes of expanding the chain in China. Hony Capital, the private equity group that bought PizzaExpress in 2014, has secured a controlling majority of its unsecured bonds, according to a document seen by Bloomberg. PizzaExpress celebrated its 50th anniversary in 2015. By Mike Didymus-August 4, 2020. Each Pizza Express shop is individually designed depending on the local tastes of the area. The only way out was for Hony to exit, and for Pizza Express to close a lot of restaurants and cut a debt-for-equity deal with shareholders on the risky promise that it would lead to a brighter future. The business is also in a strengthened position since Autumn 2020, which saw a major restructuring of the pizza chain’s capital. Hony Capital bought the business from Gondola Group for around £900 million in 2014. PizzaExpress, a UK-based restaurant chain backed by Chinese private equity firm Hony Capital, is permanently closing 73 of its 470 restaurants as part of a rescue deal awaiting approval from creditors, according to reports.PizzaExpress is one of several chains hit hard by the coronavirus lockdown. It has been helpful in expanding the Pizza Express brand in that important market, although the Far East operations first began in 2001 in Hong Kong. Expansion of the British restaurant chain into the Asia market is seen as key for its growth An affiliate of Pizza Express’ owner Hony Capital is understood to have launched a tender offer to acquire up to £80m of the group’s senior notes, due in 2022. MailOnline contacted both Pizza Express and Hony Capital, neither of which could be reached this afternoon. Hony Capital is a Chinese private equity firm, owned by Legend Holdings.Legend Holdings provided Hony, a pioneer in China's private equity industry, with its start-up capital. Hony Capital, one of China’s largest private equity firms, has acquired PizzaExpress, in a deal that values the Cinven-backed chain at £900m - the largest transaction in … PizzaExpress’s unsecured creditors -- which include Beach Point Capital Management -- will have one month to review Hony’s offer to buy back the bonds at discount. Pizza Express, which is majority owned by Chinese firm Hony Capital, also confirmed it had hired advisers from Lazard to lead a sale process for the business. PizzaExpress is a restaurant group based in the United Kingdom and owned by a group of bondholders. The company has $7bn under management, with the latest fund having a capital commitment of $2.4bn. It was founded in 1965 by Peter Boizot. China’s Hony Capital raises $130m for first venture fund The firm rose to international prominence in 2014 for its acquisition of London-based restaurant chain Pizza Express, which was taken over by its bondholders earlier this year The Guardian reports that the chain’s Chinese owner, Hony Capital, could lose control of the company as part of a debt-for-equity swap. Holders of the existing £200m senior unsecured notes (including Hony Capital) and Hony Capital, in its capacity as existing shareholder, were given a minor shareholding in the restructured Group. Pizza Express opened its first restaurant in Beijing in May Credit: Photo: ALAMY Chinese investment group Hony Capital has agreed to buy restaurant chain Pizza Express for around £900m. 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