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LBO I

LBO I

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Published by Shankey

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Published by: Shankey on Apr 23, 2011
Copyright:Attribution Non-commercial

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05/22/2013

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Leveraged Buyout(LBO)
Presented by:Gopal Krishan 09BS0002792Vikalp Chaudhary 09BS0002685
 
Leveraged Buyouts
‡
Specialpurposevehicletocarryonbuyout
‡A
cquisitionofamaturecompany
‡W
ithobjectivetoexitafter3-7years
‡R
ealizingveryhighreturns
‡
Significantuseofdebtforfinancing
‡
Verylessamountofcapital
‡A
ssetsoftargetcompanyusedascollateralfodebt
‡H
ighlystructureddebtinstruments
‡M
anagersaregivenstakeinbusiness
 
Hi
story
‡L
ess reliance on debt after Great Depression
‡1
960s: Conglomerate building began
‡³
Corporate
R
aiders´
‡A
dvantage of undervalued assets
‡
Prior to
1
980,
LO
B was obscure financialtechnique
‡L
B
O
was existing in past with the name Bootstrap
‡M
erits of debt financing attracted businessmen

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