29 Feb 2020
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Golden Gates to sell stake in Zale
Will sell either part or all of its 25% stake in Zale
By: Diamond World News Service
Oct 4 2013 3:10PM
Reference: 8325  

Golden Gate Capital is looking to sell either part of all of its stake in Zale Corporation, reports say. The stakes are to the tune of 25 percent. Also, Golden Gates controls warrants that cover some 11.1 million Zale shares, reports say.

In 2010, Golden Gates had issued a $150 million loan to Zale, which has been revised in 2012, reports suggest.

Also, the sale is unlikely to affct the loan, although the sale could have an effect on the structure of Zale’s board, as at present there are two Golden Gates’ members on Zale’s board. The Zale board members serve one-year terms, reports suggest.

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