Thesis (MBA)--Stellenbosch University, 2005. / ENGLISH ABSTRACT: This study project explains the theory of Leveraged-Buy-Outs and describes the
different financial tools than can be used. Special emphasis is laid in the capital
structure of a Leveraged-Buy-Out and its impact on the return for the investor.
The theory is then put in perspective by giving insight in the case study of the
Cognis Group, a speciality chemicals company, based in Germany. It was sold to
Private Equity companies in 2001 and since then underwent various refinancing
including the issuing of High Yield Bonds and the issuing of Payment-In-KindNotes. / AFRIKAANSE OPSOMMING: Die teorie rakende gehefboomde bestuuroornames en die gebruik van
verskillende finansiele instrumente by bestuursoornames word in hierdie
werkstuk beskryf. Klem word gelê op die impak wat 'n verandering in die
kapitaalstruktuur van die maatskappy op die belegger kan hê as gevolg van 'n
gehefboomde bestuursoorname.
Die teorie word toegelig deur te vervvys na die Cognis Groep maatskappye in
Duitsland as gevallestudie. Die maatskappy het 'n bestuursoorname ondergaan
in 2001 asook verskeie veranderinge in die kapitaalstruktuur daarna waar onder
andere gebruik gemaak was van lae gehalte effekte.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:sun/oai:scholar.sun.ac.za:10019.1/50480 |
| Date | 12 1900 |
| Creators | Bolz, Steffen |
| Contributors | Smith, Johan, Stellenbosch University. Faculty of Economic and Management Sciences. Graduate School of Business. |
| Publisher | Stellenbosch : Stellenbosch University |
| Source Sets | South African National ETD Portal |
| Language | en_ZA |
| Detected Language | English |
| Type | Thesis |
| Format | 68 p. : ill. |
| Rights | Stellenbosch University |
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