MediMedia International, Ltd

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Case

Reference no. UVA-F-1032

Subject category: Finance, Accounting and Control

Authors: Bob Bruner (Darden School of Business, University of Virginia)

Published by: Darden Business Publishing

Originally published in: 1992

Version: 3 January 2022

Revision date: 17-Jan-2022

Length: 22 pages

Data source: Published sources

Topics: Acquisitions; Debt policy; Incentives; International business; Leveraged buyouts; LBO; Multinationals; Valuation; Investment banking; Mezzanine debt; Internal Rate of Return; IRR; Equity investing; Warrants; Foreign exchange

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Abstract

In February 1991, the managers of this multinational specialty publishing company proposed to take the company private in a leveraged buyout (LBO). In addition to the ordinarily interesting features of the typical LBO, this transaction was the first to be denominated in European currency units (ECUs) and one of the few in which the managers provided all the equity financing. The tasks for the student are to value the company and evaluate the attractiveness of the transaction from the standpoints of seller, senior lender, mezzanine lender, and equity investor/manager.

Location:

London, England

Industries:

Media; Communications

Size:

Medium

Other setting(s):

1991