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Apollo, Cerberus sell down 2.6 percent in Ladbrokes Coral

Reuters - UK Focus

LONDON, Nov 1 (Reuters) - Funds of private equity companies Apollo and Cerberus are selling down approximately 2.6 percent in London-listed gambling company Ladbrokes Coral (LSE: LAD.L - news) , the transaction's bookrunner said on Wednesday.

The bookrunner said the books were covered and would close at 1800 GMT.

After the deal is completed, Apollo Credit is expected to no longer be a shareholder in Ladbrokes Coral, while Cerberus Capital Management is expected to hold about 1.8 percent.

The accelerated bookbuilding of 49.3 million existing ordinary shares is expected to be settled on Nov. 6. (Reporting by Dasha Afanasieva; Editing by Edmund Blair)