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Why crowdfunding threatens traditional bank lending
Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?
December 1986
by Coyne, John, Wright, Mike, Robbie, Ken
Funds galore for LBO prospects | Tax snags of a global buyout | Europe is the next frontier | Some examples of recent MBOs | Managers who succeed as bosses | Spawn of an era: specialist firms | Warnings fail to dim LBO dazzle
Management buyouts have become a major part of the UK business and commercial scene. In 1985, there were 245 buyouts involving total finance of about 1.2 billion; as of late October this year, about 166 deals had been identified totalling roughly 1 billion. These figures represent a remarkable increase from the modest numbers and sums involved as recently as 1980, when buyouts emerged as a significant phenomenon in the UK.
Buyouts have grown in complexity as well as numbers. The marketplace is now a sophisticated and mature sector which has implications for corporate strategy, corporate control and the structure of company finance.
Although it...
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