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BC Partners Loses Casino Operator Control

BC Partners will lose control of Greek casino operator, Regency Entertainment.

BC Partners will lose control of Greek casino operator, Regency Entertainment, Reuters reports. The U.K. private equity group will see its stake reduced to 15% after Regency defaulted on a €700 million loan.

Regency’s lenders will swap their debt for a majority stake of 72.5%, while senior lenders will hold a stake of 12.5% in the company. The restructure will remove Regency’s €200 million mezzanine loans, which were raised alongside €480 million in senior loans.

Click here for the story from Reuters.

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