Clairvest Files Lawsuit to Block Accel Entertainment's Proposed Merger With TPG Pace

Jul 16, 2019

TORONTO, July 16, 2019 (GLOBE NEWSWIRE) -- Clairvest Group Inc. (TSX: CVG) and Clairvest Equity Partners V (collectively, “Clairvest”) today announced that it has filed a complaint in the Circuit Court of Cook County, Illinois (Chancery Division), seeking injunctive relief to block the proposed merger between Accel Entertainment, Inc. (“Accel”), a Clairvest portfolio company, and TPG Pace Holdings Corp. while Clairvest pursues its claims against Accel and others before the American Arbitration Association. As described in the complaint, the proposed merger, which was announced on June 13, 2019, is an improper action by Accel that also violates a number of Clairvest’s shareholder approval rights and does not constitute a valid drag-along sale in accordance with Accel’s charter.

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