PRINT THIS PAGE Charterhouse makes quick return on UK betting shop investment05/02/2004. Source: AltAssets. 
 European private equity firm, Charterhouse Development Capital, has made a quick return on its investment in Coral Eurobet. The betting chain is to undergo a £830m refinancing that will allow Charterhouse to recoup 60 per cent of the £860m it initially invested in the company.
The refinancing will end speculation that Charterhouse is planning to float Coral in the near future. But an initial public offering remains the most likely exit route for the private equity firm in the long-run, according to the Financial Times.
Charterhouse originally acquired the betting chain from Morgan Grenfell Private Equity in August 2002. Morgan Grenfell paid just £390m for the company in 1999.
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