The owners of Gala Coral are to make what could be Europe's largest equity injection into a private equity portfolio company after the UK gaming group's falling profitability threatened its ability to meet its debt repayments.
The private equity consortium of Candover, Cinven and Permira have agreed to provide a £125m (â¬158.8m) "equity cure" for Gala Coral to repay part of its £2.5bn debt and the business will pay a higher interest rate on the remainder.
