Business Services Industry
Risks and rewards for all in boom-time LBO chase.
Australasian Business Intelligence, January, 2007
Byline: Carolyn Batt
Jan 07, 2007 (The West Australian - ABIX via COMTEX) -- The low gearing and good cash flows of Australian listed businesses have attracted the interest of private equity funds in 2006. During the year, the value of such leveraged buy-out deals rose significantly from a steady level of around $A1.5bn per annum in previous years, boosted above all by the $A11bn takeover of Qantas Airways. Department store chain Myer and the Nine Network and Seven Network media assets were other major transactions. Stockholders are gaining significant returns from the activity, while on the other hand Australia's small investors are helping fund the trend via their superannuation funds. The downside are possible job losses at the companies being bought by...
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