TPG has reduced its stake in cosmetics group Anastasia Beverly Hills as part of a debt restructuring, largely wiping out the private equity firm’s $600m investment, according to a report by Bloomberg. TPG now holds around 6% of the business, down from the roughly 38% it acquired in 2018.
The original investment was structured through a combination of preferred equity and debt taken on by the company. As part of the restructuring, discussions have included lenders taking equity and providing more...
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