Musgrave strikes debt deal with Bain

SuperValu parent buys distressed loans secured on 14 supermarkets

15th May, 2016
Musgraves Cash and Carry, Ballycurreen, Cork. Pic - Bernie Keating/Provision

The retail giant Musgrave has struck a multimillion- euro deal for toxic debt linked to supermarkets around the country with a private equity fund backed by Bain Capital, the giant hedge fund formerly led by onetime US presidential candidate Mitt Romney.

Musgrave has bought distressed loans that are secured on 14 Centra and SuperValu stores around the country, it is understood.

The loans were originally put out by Ulster Bank, but ran into arrears during the...

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