UK - Hermes wagers future for Riva
Riva Gaming Group has undergone a restructuring that will see backer Hermes Private Equity suffer a significant write down against its £50m investment in the company it created in April 2006. Lenders RBS, Bank of Ireland and Allied Irish Bank have written off by half the business's £75m debt, including mezzanine from Babson Capital, in exchange for equity.
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