ft.com - 2/19/2009
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The Carlyle Group, the private equity fund, has told creditors it would stump up £25m ($36m) to keep control of its buy-out of IMO Carwash, in exchange for its creditors writing off debt. The move highlights how private equity groups are looking for ways to keep control of their investments, ...
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Carlyle offers IMO debt deal
FT Alphaville —
The Carlyle Group, the private equity fund, has told creditors it would stump up £25m to keep control of its buy-out of IMO Carwash, in exchange for its creditors writing off debt. It is the second time Carlyle has had to pump money into IMO Carwash and highlights how buyout groups are struggling to keep control of their investments, often offering to effectively buy the company again.
Carlyle Offers Cash to IMO Carwash Creditors
DealBook —
... The Carlyle Group has offered to pony up $36 million to keep control of IMO Carwash , in return for the company’s creditors writing off debt, The Financial Times reported. The move underscores how buyout shops are looking for ways to keep control of their portfolio companies, often offering, in effect, to buy them again, the newspaper said. The carwash group is struggling under a 335 million pound ($482 million) debt load, The Financial Times said. Go to Article from The Financial Times »
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