Four debt holders take control of Gala Coral
23 Jun 2010
LONDON, England -- Gala Coral announced four debt owners have "taken control", The Telegraph reported.
The debt owners were able to take control after converting holdings and injecting cash to pay down "senior debt" The Telegraph report said.
Each of the four, Apollo (25pc stake), Cerberus (18pc), Park Square (8pc) and York Capital (4pc) will appoint a non-executive director likely from the gambling industry, The Telegraph report said.