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Provider : Reuters Investment Profile

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Roark Capital Group To Acquire Majority Stake In CKE Inc From Apollo Global Management LLC

Tuesday, 19 Nov 2013 05:49pm EST 

CKE Inc announced that an affiliate of Roark Capital Group has entered into a definitive agreement to acquire a majority stake in CKE with senior management retaining a minority stake. CKE is currently majority-owned and controlled by investment funds affiliated with Apollo Global Management LLC (together with its consolidated subsidiaries, Apollo). Terms of the transaction were not disclosed. The transaction is expected to close in the fourth quarter of 2013, subject to regulatory approvals and other customary closing conditions.