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Ares Management and Crescent Capital – Acquisition of Savers

US based Ares and Crescent have announced the acquisition of Savers from Leonard Green and TPG. Financial valuation details of the transaction have not been reported, however it has been reported both Ares and Crescent are set to invest $165m in cash for a control stake. Based in the US, Savers is a large store chain offering second hand shopping.