Stonegate, Ei Group enter transfer certificate under PIK facility

By Sarah Lizee

Olympia, Wash., Dec. 24 – Stonegate Pub. Co. Bidco Ltd. and Ei Group plc said that on Dec. 23 they entered into a transfer certificate relating to a PIK facility agreement dated July 17, 2019, which provides for a PIK facility of £325 million, according to an announcement.

The PIK facility agreement was amended and restated in connection with the transfer certificate.

Details of the amendment were not disclosed in the announcement.

On July 18, the board of Ei Group and the board of Stonegate announced that they had reached agreement on the terms of a recommended all-cash acquisition by Stonegate of the entire issued and to be issued ordinary share capital of Ei Group. The acquisition is to be effected by means of a scheme of arrangement between Ei Group and the scheme shareholders under Part 26 of the Companies Act.

Stonegate is a Luton, England-based privately owned managed pub company. Ei Group is a pub company based in Solihull, England.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.