The private equity firm bidding for childcare centre operator Affinity Education has secured financing and is on track to complete its $208.3 million takeover.
Affinity says Anchorage Capital Partners has confirmed the financing for the 92 cents per share deal, which it recommends shareholders accept.
Affinity shareholders can vote on whether to approve the deal at a November 20 meeting, and the takeover should be completed by December.
Rival childcare operator G8 Education made a $185 million cash and scrip takeover bid in August but has now agreed to sell its 19.89 per cent stake to Anchorage.
Share
