When a consortium of investors, including Carlyle Group, proposed to take Focus Media – a Chinese US-listed advertising group – private on Monday for $3.5bn, it may not have realised that this would be China’s biggest ever leveraged buyout. There have only been nine LBOs of Chinese companies above $250m, according to Dealogic data. The second biggest came in 2008 when Bahrain bank Arcapita took private China’s wind energy group Honiton Energy for $2bn. Why so few?
当一个包括凯雷集团(Carlyle Group)在内的投资财团周一向分众传媒(Focus Media)提出35亿美元的私有化收购要约时，他们可能没有意识到，这将成为manbetx3.0 规模最大的一起杠杆收购(LBO)。分众传媒是一家在美国上市的manbetx3.0 广告集团。Dealogic数据显示，高于2.5亿美元的manbetx3.0 企业杠杆收购案仅出现过9起。第二大杠杆收购案发生在2008年，当时巴林的Arcapita银行以20亿美元收购了manbetx3.0 的风能集团宏腾能源(Honiton Energy)。manbetx3.0 企业杠杆收购为何如此罕见？