Hakkasan, which has numerous problems from their restaurants shutting down, to a failed merger with SBE may now be sold to Pacha Group at a severe discount from the asking price just a few years ago.
The sovereign fund of Abu Dhabi is negotiating to sell its chain of restaurants and nightclubs Hakkasan
Earlier this month, Los Angeles-based The H.wood Group separated from Hakkasan Group, reacquiring a significant equity stake and reclaiming global rights to its portfolio of restaurants and nightclubs, including Shorebar, The Nice Guy, Bootsy Bellows and Blind Dragon.
Only a few years ago Hakkasan was seen as the global leader in Nightlife and Restaurants until a money laundering scandal rocked the chairman and main investor, that has since led to his arrest. It was rumored that at least $10 million of startup capital for Hakkasan was stolen.