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让我爱你 · 2019年12月12日

问一道题:NO.PZ2018091705000069

问题如下:

Explain two disadvantages of using a leveraged recapitalization as a monetization strategy.

选项:

解释:

There are two potential disadvantages to employing a leveraged recapitalization strategy. Private equity firms are financial buyers and, as such, they typically will not pay as high a price as strategic buyers because they do not have the same opportunity as strategic buyers to take advantage of financial and operating synergies. A second potential disadvantage is that the owner relinquishes control of the company.

recapitalization不是借债分红吗?与PE fund是两种不同的方式吧?

1 个答案

包包_品职助教 · 2019年12月13日

嗨,从没放弃的小努力你好:


PEfund 是私募基金,recapitalization是资本重组,这是两个不同的概念。书中介绍的加杠杆的资本重组方式就是企业控制人将自己的一部分股权卖给私募基金,私募基金进入后,会参与企业的经营,企业通过借债分红的方式增加企业的杠杆。

 


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