Latham & Watkins has advised bar and club operator Novus Leisure on the financial restructuring of its business. Novus, whose brands include Tiger Tiger, has significantly reduced its debt in a debt for equity swap that has seen Barclays Ventures and the Royal Bank of Scotland become majority shareholders while private equity firm Cognetas is reduced to a minority stakeholder. Barclays has also committed to invest £20m to expand the business.
July 02, 2009 at 09:00 AM
1 minute read
The original version of this story was published on Legalweek
Latham & Watkins has advised bar and club operator Novus Leisure on the financial restructuring of its business.
Novus, whose brands include Tiger Tiger, has significantly reduced its debt in a debt for equity swap that has seen Barclays Ventures and the Royal Bank of Scotland become majority shareholders while private equity firm Cognetas is reduced to a minority stakeholder. Barclays has also committed to invest £20m to expand the business.
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