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Titre : |
Leveraged buyouts and business performances. Does leverage improve business performances? |
Type de document : |
Mémoire |
Auteurs : |
Antoine BEARRE, Auteur |
Année de publication : |
2020 |
Importance : |
28 p. |
Note générale : |
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Langues : |
Anglais (eng) |
Mots-clés : |
Management ENTREPRISE ; FINANCE D'ENTREPRISE ; PERFORMANCE
|
Résumé : |
The end of the year 2019 was marked by the takeover of the American jeweler Tiffany & Co by the French luxury giant LVMH. More than the importance of the transaction in the reorganization of the global luxury landscape, it is the amount committed by LVMH that is of concern. As a matter of fact, the transaction amounts to more than 16 billion euros. "The financing of this acquisition was carried out through a credit facility of nearly 15 billion euros. This transaction is one of the main credit operations carried out this year on the European debt market, as well as one of the largest buyout operations in the luxury goods sector"1. The LVMH-Tiffany & Co transaction thus takes the form of an LBO (leveraged buyout), one of the largest in recent years. The amount of credit raised highlights the significant strike force of leverage in buyouts. |
Programme : |
PGE-Rouen |
Spécialisation : |
Finance |
Permalink : |
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