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BRIEF-Clubcorp to be acquired by Apollo Global affiliated investment funds for transaction valued at $1.1 bln
July 9, 2017 / 6:51 PM / 3 months ago

BRIEF-Clubcorp to be acquired by Apollo Global affiliated investment funds for transaction valued at $1.1 bln

July 9 (Reuters) - Clubcorp Holdings Inc

* Clubcorp enters into a definitive agreement to be acquired by certain investment funds affiliated with apollo global management in an all-cash transaction valued at $1.1 billion

* Apollo funds will acquire all of outstanding shares of Clubcorp for $17.12 per share in cash, or approximately $1.1 billion

* All-Cash transaction represents a premium of approximately 30.7% over Clubcorp’s closing stock price on July 7, 2017

* Clubcorp board of directors unanimously approved agreement with Apollo funds

* Clubcorp board of directors also declared a one-time quarterly dividend of $0.13 per share of common stock

* Jefferies LLC and wells Fargo securities / Eastdil secured are acting as financial advisors to company

* Financing is being provided by Citigroup, Royal Bank of Canada, Barclays, Credit Suisse and Deutsche bank

* Upon completion of transaction, Clubcorp will be a privately held company

* Transaction represents culmination of our review of strategic alternatives Source text for Eikon: Further company coverage:

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