US$1bn Hard Rock Café sale delayed
Rank Group’s US$1bn (£530m) sale of its Hard Rock Café chain to the Seminole Indians of Florida has been delayed due to rumours that the tribe is struggling to secure the funding, according to The Times.
The Native American tribe emerged as the frontrunner to acquire the international Hard Rock franchise earlier this month, in a field that included MTV co-founder Robert Pittman and private equity group Permira.
The Seminole Indians already operate two Florida-based Hard Rock hotel and casino resorts under licence from Rank.
The Hard Rock portfolio comprises 124 cafés, seven casino/hotels and one standalone casino throughout 43 countries.
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