Trive Capital Fund IV LP and Trive Capital Fund IV-A LP managed by Trive Capital Management LLC agreed to acquire Ten Entertainment Group plc (LSE : TEG) from Graham Blackwell, Antony Smith, Adam Bellamy, Julie Sneddon, Christopher Mills and others for approximately £280 million on December 6, 2023. Under the terms, £4.125 per share will paid in cash. Transaction has been unanimously approved by Ten Entertainment board of directors. Transaction is subject to approval from Ten Entertainment's shareholders, the sanction of the Scheme by the Court The cash consideration payable to TEG Shareholders under the terms of the Acquisition will be financed by: (i) an equity investment indirectly into Bidco from the Trive Funds; and (ii) debt to be provided by funds managed by affiliates of Fortress Investment Group LLC pursuant to the Interim Facilities Agreement. As of January 12, 2024, the outcome of Court Meeting and General Meeting Conditions have been satisfied. The hearing before the Court to sanction the Scheme is currently expected to be held on January 19, 2024. As of January 19, 2024, the court has sanctioned the scheme. TEG expects that, subject to the satisfaction (or, where applicable, waiver) of the Conditions, the Scheme will become effective in the first quarter of 2024.

Henrik Persson, Carl Holmes, Seamus Fricker and George Dollemore of Cavendish Capital Markets Limited acted as financial advisor to bidco and Trive. Nicholas Page and Andrea Francisco of Lazard & Co., Limited acted as financial advisor to Ten Entertainment Group. Kirkland & Ellis International LLP acted as legal advisor to Trive and Ten Entertainment Group and Shoosmiths LLP acted as legal advisor to Ten Entertainment Group.

Trive Capital Fund IV LP and Trive Capital Fund IV-A LP managed by Trive Capital Management LLC completed the acquisition of Ten Entertainment Group plc (LSE : TEG) from Graham Blackwell, Antony Smith, Adam Bellamy, Julie Sneddon, Christopher Mills and others on January 23, 2024.