Leveraged buy-outs : when cash is king

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NG Investments

Seminar Business life | Friday January 12, 2007 - 9h30 - 12h

What is an LBO ? Is the image of financial predators squeezing company assets, as private equity companies are portrayed, justified ? Do LBOs deserve the fiendish reputation that they have as a result of the secrecy surrounding their operations ? Before changing professions to join LBO France, the leading French company in the LBO sector, Noël Goutard was responsible for making Valeo one of the most profitable companies on the stock market. In this talk, he describes a world which is very different from Valeo, one which is dominated by the tyrannical demands for profitability and cash, and orientated towards industrial projects and instant efficiency as well as long-term development strategies of acquired companies. The efficiency of these companies delights both shareholders and managers who are motivated by potential future possibilities.

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This session was published in issue n°66 of the Journal de l'École de Paris du management, entitled Monde incertain et caractères bien trempés.

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