Hitting the deadline
Article Abstract:
The 860 million pound sterling management buyout of consumer magazine publisher IPC Magazines from Reed Elsevier was led by Cinven. The publisher boasts more than 70 titles, including 'Loaded', 'Marie Claire', and the 'TV Times'. Salomon Smith Barney acted as financial adviser and the deal included equity, revolving credit and temporary mezzanine facilities, which have now been refinanced with high yield bonds and a zero coupon issue.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1998
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A complex package
Article Abstract:
The sale of IPC Magazines by Reed Elsevier to Cinven in January 1998, represented the largest leveraged buyout in the UK during the 1990s. The consumer magazine publisher was sold for 860 million pounds sterling, and the deal featured mezzanine financing, and high yield bonds. IPC boasts a total of 72 titles including 'Marie Claire', 'TV Times', and 'Ideal Home'. The finance package was provided by Goldman Sachs.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1998
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Alternative solutions
Article Abstract:
The 110 million pound sterling management buyout of Dalgety Agriculture illustrates NatWest Acquisition Finance's (NWAF) flexibility in providing alternatives to traditional leveraged deals. NWAF was responsible for structuring and arranging financing for the deal, which was based on fixed and current assets. Mezzanine finance was used along with committed invoice discounting.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1998
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