Coffee chain says owners of EG Group of petrol stations do not understand its situation
Caffè Nero has rejected a takeover bid by the billionaire brothers behind EG Group, a chain of petrol stations, as the struggling cafe chain insisted it would continue with a separate restructuring process.
Caffè Nero on Monday revealed that the last-minute offer had been rejected because Mohsin and Zuber Issa, who are also in the process of buying Asda, had not engaged with the company and did not understand its financial situation.
