Cerberus Inks $320M Deal To Take Over UK Tavern Group

Law360, New York (January 4, 2013, 3:32 PM EST) -- New York private equity firm Cerberus Capital Management LP swallowed up British pub group Admiral Taverns in a deal reportedly worth £200 million ($320 million), closing out the company's three-year restructuring under former owner Lloyds Banking Group PLC, Admiral Taverns said Friday.

The parties did not name a purchase price, but several news outlets pegged it, citing anonymous sources with knowledge of the deal. They also did not give a financing breakdown, though several reports said the firm covered the consideration using a mix of debt...
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