Bankruptcy court approves Real Mex sale

Bankruptcy court approves Real Mex sale

Real Mex Restaurants Inc. has a new owner and is expected to emerge from bankruptcy soon.

A Delaware bankruptcy court judge on Friday approved the sale of the parent company to the El Torito, Acapulco and Chevys Fresh Mex chains to a group of noteholders that includes Tennenbaum Capital Partners, Z Capital Partners and J.P. Morgan Investment Management, under the entity RM Opco LLC.

The bid was worth about $129 million, including $49 million in cash and an $80 million credit bid

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