Apollo-backed CEC Entertainment to merge with Leo Holdings

CEC Entertainment Inc, which owns Chuck E Cheese and Peter Piper Pizza, is merging with Leo Holdings Corp, a SPAC. CEC Entertainment, which is backed by Apollo Global Management LLC, will trade on the NYSE under the ticker “CEC.” Apollo is not selling shares in the transaction and will have 51 percent once the deal closes. CEC’s anticipated initial enterprise value is about $1.4 billion. Leo Holdings is blank check company formed by Lion Capital.

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