Trio of firms line up on rescue deal for Fitness First ahead of takeover
Linklaters, Kirkland & Ellis and Dickson Minto have all taken advisory roles as troubled gym chain Fitness First attempts to secure a rescue deal ahead of a potential takeover. Investment fund managers Oaktree Capital Management and Marathon, which are being advised by Linklaters London restructuring partner Yushan Ng, have acquired more than 75% of Fitness First’s debts and are expected to agree a debt for equity swap to take control of the gym chain after it missed an £18m interest payment last month.
Linklaters, Kirkland & Ellis and Dickson Minto have all taken advisory roles as troubled gym chain Fitness First attempts to secure a rescue deal ahead of a potential takeover.
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