The standard response
Article Abstract:
International standards are difficult to apply in European cross-border buyout deals because banks do not all recognise the same standards. Participating banks may be reluctant to enter if domestic transactions are subjected to international standards. The management team may be unable to fully participate in the documentation and due diligence processes, while information sources in due diligence may be unreliable. The lending banks would gain best protection by using common sense to document and structure deals.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1997
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Differences remain in a converging market
Article Abstract:
The European management buyout market seems to be converging, but at the same time the differences between countries are being maintained and will take years to be eroded. Each nation still has its own buyout structures and traditions, and firms seeking to be pan-European MBO practitioners need to have much local experience and information available. However, a growing number of international institutions are starting to compete with local players in European markets, and this is boosting the overall market.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1995
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How to overcome local difficulties
Article Abstract:
Countries in mainland Europe operate different buyout procedures within different fiscal and legal regulatory systems, which can substantially impact buyout restructuring and renegotiation. The standards are fundamentally based on the US model but have been adapted to meet each country's needs. Local regulations should be incorporated into deal structures as debt positioning and reasonable leverage can be affected. Deal activities in France are analysed.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1997
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