Sale of Entrepreneur on hold
After asking $200 million this spring, company executives say the sale of Entrepreneur will not move forward.
Folio reports that Entrepreneur CEO Peter Shea announced in a a memo to employees that they will not secure a deal with Austin Ventures, a Texas-based private equity firm, which was supposed to be completed in July.
“There are several reasons for this,” Shea wrote. “One being that I decided that I am not ready to retire, another reason being that the debt market has made it a very difficult market for [buyout] funds to raise debt financing at a reasonable multiple and percentage rate.”
For more click here.
Folio reports that Entrepreneur CEO Peter Shea announced in a a memo to employees that they will not secure a deal with Austin Ventures, a Texas-based private equity firm, which was supposed to be completed in July.
“There are several reasons for this,” Shea wrote. “One being that I decided that I am not ready to retire, another reason being that the debt market has made it a very difficult market for [buyout] funds to raise debt financing at a reasonable multiple and percentage rate.”
For more click here.
posted by Kelly at
8/01/2008 09:38:00 AM
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