Alan Yau, a top London restaurateur and founder of the Wagamama Japanese food chain, has sold his two exclusive Michelin-stared Chinese restaurants for $60m to funds owned by Abu Dhabi, reports The Times. Yau who sold out of Wagamama in the late 1990s, sold Hakkasan and Yauatcha to Tasameem, a property arm of the Abu Dhabi Investment Authority. It is understood that Mr Yau will keep a minority stake in the business and that he decided to sell to raise funds to expand the restaurants overseas, starting with key cities in Europe and the US.
