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Stock impact report

Soho House's £1.3bn takeover revived after funding scramble [Yahoo! Finance]

Goldman Sachs Group, Inc. (The) (GS) 
Last goldman sachs group, inc. (the) earnings: 4/15 07:30 am Check Earnings Report
US:NYSE Investor Relations: goldmansachs.com/investor-relations
Company Research Source: Yahoo! Finance
Soho House, which is listed on the New York Stock Exchange, has secured a new $200m funding commitment that will allow it to close a take-private deal with US hotel giant MCR Hotels. Under the revised terms, Morse Ventures, an entity owned by MCR boss Tyler Morse, will commit $50m, while MCR will commit a further $50m. Soho House has extended its debt facilities with private equity firm Apollo and Goldman Sachs from $150m to $220m, while Apollo will reduce its equity commitments. Major shareholders including restaurateur Richard Caring have also agreed to roll over their stakes, reducing the amount of funding required for the deal by $50m. The revised arrangements come a week after MCR, which owns the 1960s-themed TWA Hotel at JFK Airport and BT Tower in London, said it was unable to stump up the $200m it had promised for the deal. The shock announcement threatened to scupper the long-awaited takeover of Soho House and sent shares tumbling. The company's stock price bounced Show less Read more
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