Restaurant Group (LON:RTN) shareholders approved plans to acquire Wagamama, as part of a £559 million takeover.

Restaurant Group already owns culinary chains such as Franke & Benny’s and Garfunkels.

Some shareholders had held reservations over the deal, namely the price and the impact on debt levels for the group.

The deal is set to be financed in part through a £315 million cash call on group shareholders.

Despite some initial opposition, shareholders approved the deal noting Wagamama’s comparatively strong performance in an increasingly difficult trading climate for restaurants.

Well-known restaurant chains such as Prezzo and Jamie’s Italian have closed various underperforming sites in recent months, in a bid to streamline costs.

Wagamama has 196 restaurants, 133 of which are in the UK. Other locations include The Middle East, New Zealand and Croatia.

Back in October, when the deal was announced, Restaurant Group Chief Executive Andy McCue said:

“Wagamama is a fantastic brand, with a market leading pan-Asian proposition, which has consistently outperformed the casual dining market in recent years,”

“This transaction is an exciting and transformative opportunity to create a business which can pursue a truly multi-pronged growth strategy and create substantial value for our shareholders.”

Shares in Restaurant Group are currently down -11.40% as of 11:30AM (GMT).