Debt-ridden Gala Coral, which is set to be rescued by its lenders in a £750m deal, will seek to list on the stock market in less than three years. After months of talks lenders, who have taken on £540m of debt for a 30% stake and injected £200m to take control of the remaining 70%, have secured a deal to win control of the company’s equity, leaving the private equity owners with virtually nothing. Executive chairman Neil Goulden, who had been expected to step down, has signed a binding contract to stay on and oversee its progression to a public company. Read more.
