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Restaurant Group buyout by Apollo will be funded with term loan
Chicago, Oct. 12 – Restaurant Group plc (Rock BidCo Ltd.) announced that the company will be purchased for 65 pence per share by Apollo, valuing the company at £506 million and implying an enterprise value of £701 million, according to an announcement.
The cash consideration will be financed with equity to be invested by the Apollo Funds and third-party financing for a £260 million interim senior term facility under an interim facilities agreement. RBC Europe Ltd. is listed as a provider on the loan.
The acquisition is still subject to shareholder approval.
Lazard, Centerview and Citi advised Restaurant Group. Slaughter and May is the legal adviser.
Kirkland & Ellis International LLP is acting as legal adviser to Apollo and Bidco.
Closing is expected in early 2024.
The British chain of restaurants and public houses is based in London.
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