Oliver seeks pvt investors for restaurants in Asia

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LONDON, Oct 11 (Bloomberg): Jamie Oliver and his venture partner are seeking $22 million from private investors to help fund 30 of the U.K. celebrity chef's Italian restaurants across Asia.

Oliver and partner Tranic Ltd. aim to raise $12 million by November and a further $10 million by the end of 2010, with the first six Jamie's Italian restaurants to open in Hong Kong and Singapore, said Edward Pinshow, chairman of Tranic. The others, which may be in Japan, the Philippines, Indonesia, South Korea and Malaysia, are planned within five years.

"We're taking a very selective approach, targeting high net worth individuals, boutique private equity firms and some large family names in Asia," Pinshow said in an interview in Singapore today.

Jamie's Italian International Managing Director Kevin Bacon and Hong Kong-based Pinshow have been touring the region this week meeting potential investors and scouting for restaurant locations. The neighborhood-style eateries will be based on the chain of six restaurants Oliver has in the U.K. that serve dishes such as lamb-chop lollipops, turbo penne arrabiata and posh truffle chips.

"The restaurants will all be Jamie's Italian, but they'll be individually styled with some local elements incorporated into the design," Pinshow said. "We're also considering establishing an organic farm in Hong Kong which could supply some of the produce."



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