Comment by 1024core
2 years ago
So GG Capital paid $2.1B for Red Lobster, and sold the land for $1.5B. They still owe $600M on their purchase! Did they sell the remnants to Thai Union for > $600M? Only then this whole thing makes sense.
2 years ago
So GG Capital paid $2.1B for Red Lobster, and sold the land for $1.5B. They still owe $600M on their purchase! Did they sell the remnants to Thai Union for > $600M? Only then this whole thing makes sense.
Yes. Thai union bought a 25% partial stake from GG capital in 2016 for 575 million. Thai union must have been happy, because they bought 24% more to become the primary owner in 2020 for an undisclosed amount.