Tokheim LBO had enough support, bankers say

Leveraged finance bankers have said that banks were supportive of a planned buy-out of French fuel pump provider Tokheim, which was cancelled this week when bids did not meet owner Cogentas’s expectations.

  • 15 Dec 2011

The auction was not pulled due to unavailability of sufficient financing, but because some private equity firms insisted on valuations that reflected the pre-crisis world, bankers said.

“I was very surprised to hear the argument that the auction was pulled because the banks were not there to finance the ...

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