Definition Abtretung der Exklusivrechte ausübender Künstler gegen eine Pauschalzahlung an die Plattenproduzenten Reference Vorschlag für eine Richtlinie des Europäischen Parlaments und des Rates zur Änderung der Richtlinie 2006/116/EG des Europäischen Parlaments und des Rates über die Schutzdauer des Urheberrechts und bestimmter verwandter Schutzrechte, CELEX:52008PC0464/DE
Definition a form of replacement capital through which one or more managers of a company take control of the company's capital by acquiring the majority of shares from the actual owner(s) Reference Community guidelines on state aid to promote risk capital investments in small and medium-sized enterprises, CELEX:52006XC0818(01)/EN
Comment A management buyout (MBO) is appealing to professional managers because of the greater potential rewards from being owners of the business rather than employees. MBOs are favored exit strategies for large corporations who wish to pursue the sale of divisions that are not part of their core business, or by private businesses where the owners wish to retire. The financing required for an MBO is often quite substantial, and is usually a combination of debt and equity that is derived from the buyers, financiers and sometimes the seller. Investopedia, Management Buyout - MBO, http://www.investopedia.com/terms/m/mbo.asp [14.3.2014]
Definition when an institutional investor, such as a private equity firm or a venture capitalist firm, acquires a controlling interest in a separate company Reference (I)INVESTPOPEDIA>Dictionary, http://www.investopedia.com/terms/i/institutional-buyout.asp [14.3.2014]
Comment Institutional buyouts are the opposite of management buyouts (MBO), in which a business's current management acquires a large part of the company. Typically, the investor in an IBO will look to dispose of its stake in the company within a certain time frame. (I)INVESTPOPEDIA>Dictionary, http://www.investopedia.com/terms/i/institutional-buyout.asp [14.3.2014]
BUSINESS AND COMPETITION|business organisation|business activity · ECONOMICS|economic structure|economy
Comment This form of buyout is often done by firms looking for an alternative to a leveraged buyout. Companies being sold can be either healthy companies or ones that are in significant financial distress. Investopedia > Dictionary > Employee Buyout - EBO, http://www.investopedia.com/terms/e/ebo.asp#axzz2DRdIQiBh [28.11.2012] See also - leveraged employee buyout (narrower) [ IATE:3547596 ]
Definition When an institutional investor, such as a private equity firm or a venture capitalist firm, acquires a controlling interest in a separate company Reference (I)INVESTOPEDIA>Dictionary, http://www.investopedia.com/terms/i/institutional-buyout.asp [14.3.2014]
Comment Institutional buyouts are the opposite of management buyouts (MBO), in which a business's current management acquires a large part of the company. Typically, the investor in an IBO will look to dispose of its stake in the company within a certain time frame. (I)INVESTOPEDIA>Dictionary, http://www.investopedia.com/terms/i/institutional-buyout.asp [14.3.2014]
BUSINESS AND COMPETITION|business organisation|business activity · FINANCE|free movement of capital|free movement of capital
Comment The intention is that the loans will be repaid from the cash flow of the acquired company. In the 1980s many takeovers in the USA were financed by the issue of junk bonds in highly leveraged buyouts. More recently, LBOs have become associated with the activities of private equity funds.
Definition acquisition d'une entreprise largement financée par un endettement pouvant prendre la forme: -d'un emprunt bancaire garanti par les actifs de la société; -d'un financement mezzanine; -d'une émission de junk bonds Reference Antoine, J, Dictionnaire des marchés financiers, 2008
Comment UPDATED ND 24/09/2009
BUSINESS AND COMPETITION|business organisation · ECONOMICS · FINANCE
Definition Aktienkapitalübernahme durch die Geschäftsleitung per Bankkredit Reference Reinhard von Normann,Das treffende Fachwort für die Wirtschaft,Ott Verlag Thun,1989(LES 1/93-27)
Definition similar to a MBO, except that the buyers use company assets as collateral to secure financing Reference BDC Entrepreneurs first > Articles and tools > Change of ownership > Plan your succession > 'Management buyout: A common exit strategy when selling a business', 13.6.2010, http://www.bdc.ca/en/advice_centre/articles/Pages/succession_mbo.aspx [9.10.2014]
Comment Most of the time, the management team takes full control and ownership, using their expertise to grow the business. An MBO/LMBO acquisition, which can be sizable, is usually funded by a mix of personal investors, external financiers and the seller. See also: - management buy-out (MBO) (broader) [ IATE:835584 ] - leveraged buyout (LBO) (broader) [ IATE:1464776 ]
Definition Technique de reprise d'une entreprise par ses salariés par constitution d'une société mère contrôles par ces derniers et bénéficiant d'avantages fiscaux, et grâce à l'appui de partenaires financiers intervenant en capital et en prêts complémentaires à long terme, dont le remboursement sera obtenu grâce au flux de trésorerie généré par l'entreprise (effet de levier) Reference Ministère de l'Economie,des Finances et du Budget,Paris 1989
Definition a type of leveraged buyout in which a financial sponsor or private equity firm sells its investment in a company to another financial sponsor or private equity firm, thereby ending its involvement with the company in question Reference Investopedia, http://www.investopedia.com/terms/s/secondary-buyout.asp#axzz29NthiDrb [12.10.2012]