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.
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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