Ali Group gets $4.5 billion debt commitment for Welbilt purchase

By Sara Rosenberg

New York, Aug. 10 – Ali Group has received a commitment for $3.75 billion equivalent of senior secured credit facilities and a $750 million senior secured bridge loan to help fund its acquisition of Welbilt Inc., according to a PREM14A filed with the Securities and Exchange Commission on Tuesday.

The credit facilities consist of a $250 million revolver, a $1.25 billion equivalent euro term loan A and a $2.25 billion term loan B.

Goldman Sachs and Mediobanca provided the debt commitment.

Under the agreement, Welbilt is being bought for $24.00 per share, or about $3.5 billion in aggregate equity value and $4.8 billion in enterprise value.

Closing is expected in early 2022, subject to customary conditions, including the approval of Welbilt shareholders.

Ali is a Milan, Italy-based foodservice equipment company. Welbilt is a New Port Richey, Fla.-based commercial foodservice equipment company.

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