Apollo Management presents offer to buy Gala Coral

The private equity firm joined the Blackstone group in trying to buy the heavily-indebted gambling group when offering to repay 250 million pounds to the company’s senior lenders, with junior lenders expected to receive 50 per cent of the company.
If the proposal is accepted, shareholders in the group that includes bookmakers Coral and Eurobet would be left with nothing.

Date published: 30 December 2009


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