Fiesta Restaurant: Up after Arex Capital reports stake

Fiesta Restaurant

24/01/2020 16:31

** Pollo Tropical and Taco Cabana operator's shares  FRGI.O 
rise 4.3% to hit six-month high of $11.35 
    ** Investment firm Arex Capital Management reports https://www.sec.gov/Archives/edgar/data/1800261/000119380520000064/0001193805-20-000064-index.htm
 8.5% stake in co; Stake makes it the third biggest shareholder,
according to Refinitiv data 
    ** Arex expects to discuss certain operational, strategic
matters with company 
    ** FRGI last week announced closure of several Taco Cabana
restaurants in Texas as a part of its margin improvement plan
 urn:newsml:reuters.com:*:nFWN29I06I
    ** FRGI shares lost more than a third of its value in 2019
and have risen 14.2% so far this year

 (Reporting by Nivedita Balu in Bengaluru)
 ((Nivedita.Balu@thomsonreuters.com; within U.S. +1 646 223
8780; outside U.S. +91 80 6749 4822/ Twitter: @niveditabalu;))