Vice gets approval to sell assets to lender group for $350 million

By Sarah Lizee

Olympia, Wash., June 26 – Vice Group Holding Inc. received court approval to sell its assets to a group of lenders including Fortress Investment Group, Soros Fund Management and Monroe Capital, according to a Friday press release.

Under the asset purchase agreement, which was amended, the investor group has agreed to provide total purchase consideration of about $350 million, up from $225 million, in the form of a credit bid for substantially all of the company's assets, in addition to the assumption of significant liabilities upon closing.

The transaction remains subject to customary closing conditions and is expected to close on or around July 7.

Vice is a global multi-platform media company with headquarters in Brooklyn, N.Y. The company filed bankruptcy on May 15 in the U.S. Bankruptcy Court for the Southern District of New York under Chapter 11 case number 23-10767.

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