The boards of directors of CF Exedra Bidco Ltd. and Loungers plc, on Thursday, announced that they have reached an agreement on the terms and conditions of a recommended acquisition by Bidco of the entire issued and to be issued share capital of Loungers.
Under the terms of the Acquisition, each Loungers Shareholder will be entitled to receive 310 pence in cash for each Loungers Share, with an alternative option to participate in an unlisted share alternative in respect of some or all of their Loungers Shares.
The Cash Offer values the entire issued, and to be issued, ordinary share capital of Loungers at about £338.3 million, and at an enterprise value of about £350.5 million.
CF Exedra Bidco Ltd. Is a newly formed company indirectly owned by funds and accounts managed or advised by affiliates of Fortress Investment Group LLC.
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