The New York Times reported Leon Black’s Apollo Global Management announced it agreed to acquire CEC Entertainment, which operates 577 Chuck E. Cheese’s restaurants, for $1.3 billion, including the assumption of debt.

The Times said further Goldman Sachs and the law firm of Weil, Gotshal & Manges are advising CEC; Deutsche Bank, Morgan Stanley and UBS are serving as financial advisers to Apollo, and with Credit Suisse, provided debt financing commitments; while Wachtell, Lipton, Rosen & Katz and Paul, Weiss, Rifkind, Wharton & Garrison are serving as Apollo’s legal advisers.

To read the entire Times article, click here.