Private fund launches takeover offer for Harry's at 23 cents each

Homegrown bar chain Harry's Holdings is set to be privatised by a private equity fund.

F&B Asia Ventures, controlled by Everstone Capital Partners II, is making a cash offer of 23 cents apiece to acquire all Harry's shares.

This works out to a premium of 53 per cent over Harry's closing price of 15 cents last Friday.

The offer is also at a premium over Harry's initial public offering price of 22 cents.