A&P Lays Groundwork For Ch. 11 Exit With $490M Deal

Law360, New York (December 6, 2011, 8:32 PM EST) -- A New York bankruptcy judge on Tuesday approved The Great Atlantic & Pacific Tea Co.'s bid to enter into $490 million in securities purchase agreements from private equity investors, a deal crucial to the company’s plans to exit Chapter 11 bankruptcy in early 2012.

U.S. District Judge Robert D. Drain approved the agreement, proposed last month, for A&P and its subsidiaries to receive $490 million in debt and equity financing from private equity investors The Yucaipa Companies LLC, Mount Kellett Capital Management LP and investment funds...
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