NewCo LBO
Hey Guys,
Hope everything is well.
I just have a quick question regarding LBO structure.
When you create the usual LBO structure (PE fund and debt provider -> NewCo holding -> target company), i’m Not clear about the NewCo part.
Should the NewCo EV be the Target EV or the Target Equity Value?
Since in my uses and sources I have the following :
Sources : EqV : 63; Unitranche: 40
Uses : EqV: 80 ; Debt Net : 20 ; fees : 3
I used to heard that NewCo assets is the total share of Target. But i’m not sure
Thanks for your help guys :)
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