Issuer: Grovebase Properties
Targets: Wellington Group, Punch Taverns
Amounts: £231 million ($395 million), £535 million ($915 million)
Dates: February 1998, March 1998
Lead managers: Morgan Stanley Dean Witter, BT Alex Brown
Although leveraged acquisitions are by no means unheard of, they are still a very small asset class. Regulatory and legal restrictions, especially in continental Europe, have limited the development of this type of acquisition.
Which makes two deals within three weeks as part of one company’s acquisition strategy all the more noteworthy.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
