Texas Pacific Group faces loss of equity control and cash in gate gourmet deal
Hedge funds are closing in on Gate Gourmet, with a view to relieving private equity investors in the embattled airline catering firm of some cash. Investment norms were turned on their head in August as private equity group Texas Pacific Group (TPG) found itself on the wrong side of a deal involving the restructuring of Gate Gourmet UK. A strike by some of Gate Gourmet's UK staff over pay and conditions brought many British Airways flights to a halt in August. Having bought the troubled food company, US private equity firm Texas Pacific Group (TPG) restructured and refinanced it with a s...
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