Bankrupt Hospital Laundry Co.'s $125M Sale To KKR OK'd

Law360, New York (June 23, 2017, 6:14 PM EDT) -- A New York bankruptcy judge on Friday approved the $125 million sale of Angelica Corp. to a KKR & Co. LP affiliate, saying he was satisfied the medical laundry and linen management company had fielded the best offer to continue as a going concern when it emerges from Chapter 11.

KKR Credit Advisors (US) LLC was put on a direct path to scoop up Angelica late last month when the hospital servicer canceled an auction and asked U.S. Bankruptcy Judge James L. Garrity Jr. to approve...
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