Cinven increases offer to acquire Spice
Cinven is backing its £251.1m (Eu292m) buy-out of Spice, the UK infrastructure support services company, with £154m of loans. Spice shareholders accepted the offer of 70p a share this week after rejecting a 56p a share offer in May. HSBC, ING, Lloyds TSB and Investec are underwriting the financing which will be syndicated in due course. Read EuroWeek on Friday for more information on the debt financing, how leveraged loans bankers think the deal will fair and which deal is launching next.
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