Dubens's firm Oakley hungry for Ed's Easy Diner - part 2

It would appear a takeover is Ed's Easy Diner (I'm not going to describe the chain as "tired" and "old" as last time the company spokesperson rang me to whinge so I will leave it the reader to decide what they think of the concept) is moving closer to completion.

According to well-placed sources, the Ed's Easy Diner sale process is entering the final stages and a £100 million deal could be announced in the next few weeks.

Several private equity firms - such as Oakley Capital and Primary Capital - have been participating in the auction but word is a couple of parties have now moved into advanced talks to buy Ed's Easy Diner after the owners of the business appointed corporate finance boutique McQueen, now called Houlihan Lokey, to look at strategic options.

To be honest, it's not clear who the winner of the auction is although it's thought US buy-out shop TPG, which owns Italian restaurant chain Prezzo, and Oakley, the private equity firm set up by Peter Dubens, have been two of the front runners in the sale process.

Keep an eye on little old Betaville as may have an update on the situation later on the week.