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Pearl to get £500m injection in debt restructure, say reports

Pearl Group has finalised a debt restructure deal which will slash the firm’s £3bn debt and secure a £500m capital injection from investor, Liberty Acquisition Holdings, according to reports.

The Financial Times claims the Cayman Islands-based company is expected to announce it has entered a period of exclusivity to close the deal, which would see it take a stake of about 60 per cent.

Founder Hugh Osmond is likely to take a significant loss on his original equity stake in the Pearl empire, estimated to be around £200m. The deal will leave him, and partners, with a stake of around 30 per cent, the paper states.

In April, Pearl announced that it was to pursue a debt restructuring in a bid to move towards a listing on the stock exchange.

Pearl’s debt soared last year after its £5bn acquisition of Cowdery’s original Resolution. The firm’s capital base has been impacted by the turbulence in stock markets.


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Specialist funds have drifted in and out of favour in recent years. Right now, the IMA’s statistics would show them out of favour, at least compared with the larger sectors such as corporate bonds and equity income.


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