Jupiter Fund Management Plc and Invesco Asset Management are set to take over Codere SA as part of a deal to restructure the gaming firm’s debt, according to people familiar with the matter.
The Madrid-based company reached an agreement with a group of creditors, also including PGIM Ltd. and Davidson Kempner Capital Management, said the people, who asked not to be named because the information is private. It entails converting about 350 million euros ($422 million) of debt into equity, and bondholders providing 225 million euros of new funds to boost Codere’s liquidity, the company said in a filing on Thursday.
Representatives for Jupiter, Davidson Kempner and a Codere official declined to comment on the identity of the creditors.
