Big business deals do not often come with a promise to cut greenhouse gases. But that was part of a deal this week for TXU, the biggest electric company in Texas. It's-->Itsbored-->board(董事会；理事会) of directors agreed to a buyout(买通；买断) offer led by two private equality-->equity(公平) groups, Kohlberg Kravis Roberts and Texas Percific-->Pacific. They are offering to buy all shares(股；股份) in TXU and take the company private, that means it would start trading on a public stock exchange.
A leverage buyout(杠杆购股，借款买股) depends heavily on borrowed money, often for the purpose of selling the company later. This leverage buyout would be the biggest yet -- an estimated value of around 45 billion dollars including det-->debt(债务；欠款).
KKR and Texas Percific-->Pacific Group would take responsibility for more than 12 billion dollars owed by TXU. They would add 24 billion dollars in new det-->debt through borrowing to finance the sale.
The proposal calls for them to each pay 2 billion dollars in cash. Investment banks would provide an additional 3 billion dollars, and banks would also provide a one billion dollar unsecured(无担保的) loan known as an "equality-->equity bridge".
posted @ 2007-03-06 16:57
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