Greensill Capital, the once high-flying financial company that counts former prime minister David Cameron as an adviser, is preparing to file for insolvency in the UK.
People familiar with the matter said that the filing will allow private equity firm Apollo Global Management to buy parts of the business out of administration, in a prepack deal.
The $455bn US private equity firms deal could wipe out shareholders such as SoftBanks Vision Fund, which poured $1.5bn into the business in 2019. SoftBanks $100bn technology fund has already substantially written down the value of its stake.
Greensills lawyers warned this week that the recent loss of a $4.6bn insurance contract could cause a wave of defaults among its clients and 50,000 job los…
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