Big Brother owner Endemol seeks help with United 2 euro debt restructuring
The appointment comes as attempts to Dutch to deal with the level of debt inherited from its takeover of 3 making production plant € in 2007.
Its lighthouse, Big Brother, the basis for the success of the company show recently withdrew from British television, after 10 years.
Endemol was acquired in 2007 by a consortium of three tracks of Silvio Berlusconi's Mediaset, the founder John MOL, through its vehicle Cyrte Investments and Goldman Sachs.
Goldman interests across the debt senior and junior tranches.The €3 taken much had more than €2 5.3 debt held by Goldman, ABN Amro, Barclays Capital, Credit Switzerland, Lehman and Merrill Lynch.
Debts of Endemol run at 13 times its gains.Sources industry, say that it is so light that even though he was able to double the size of the undertaking, its debt structure still would probably have to meet.
Sources said the company must be sure, there will be no shortage of covenants in the first quarter of 2011.?
Reports earlier this year, debt, distressed investors who specialize in the purchase of debt to resume a firm in difficulty, have shown an interest in Endemol.
It is understood that Apollo Management International has recently purchased a small percentage of senior debt of Endemol.
Endemol has made changes to its own structure.Paul Romer, a co-creator of Big Brother, recently left and made a new creative team.
Houlihan recently worked with Goldman on the restructuring of. £ 1 directories business advisory company moved to work with top donors to work with Goldman - who is the holder of the mezzanine - debt européennes.La 7bn Goldman asked it switch allegiances.
However, the agreement seen holders annihilés mezzanine and, consequently, Houlihan an opportunity lost to the costs of care infirmiers.Sources speculated that their participation in Endemol may go some way this loss.
Private Goldman capital unit also believes a possible buyer, which could block a restructuring.
Redemption of Endemol was hit on a "Light Alliance" basis and, as the purchase of Terra Firma of EMI, was one of the last private equity-style treats to fill before markets get credit in the summer 2008.
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