Patron Won't Bid On Soccer Centers, Clearing Way For OTPP

Law360, New York (August 8, 2012, 5:08 PM EDT) -- Private equity firm Patron Capital Advisers LLP is walking away from takeover talks with Goals Soccer Centres PLC, paving the way for Ontario Teachers' Pension Plan to close its £73 million ($114 million) buyout of the company, which runs recreation centers in the U.K.

Patron, a real estate-focused fund manager that also owns Powerleague Group Ltd., a rival soccer-center operator, said in a statement that it did not intend to make an offer. A spokesman did not elaborate.

OTPP made a 144 pence-per-share offer for Goals...
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