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Advent To Pay £1B For Priory Group

Advent International is close to acquiring U.K. care homes operator, the Priory Group, from Royal Bank of Scotland.

Advent International is close to acquiring U.K. care homes operator,the Priory Group,from Royal Bank of Scotland (RBS),The Telegraph reports. The private equity firm will pay around £1 billion for the acquisition. Deutsche Bank and RBS will provide financing to Advent for the deal, while Deutsche Bank will also be advising Advent on its bid for the Priory. Bain Capital and Blackstone had also shown interest in Priory Group, adds City A.M.

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