22nd Aug 2019 07:24
(Alliance News) - Credit Suisse Group AG, Citigroup Inc and Goldman Sachs Group Inc are to make more than GBP200 million if the takeover of Cobham PLC gets the green light from shareholders next month, the Financial Times reported late Wednesday.
In late July Cobham reached an agreement with an indirect subsidiary of funds managed by US private equity firm Advent International Corp over a takeover valuing the London-listed aerospace and defence firm at GBP4.0 billion.
The FT on Wednesday said documents revealed the bulk of the fees, between GBP120.2 million and GBP135.2 million, would be incurred from the financing of the debt on the transaction.
Advent is financing the purchase through a combination of equity, totalling just over GBP1.2 billion, and debt. Credit Suisse, Citigroup and Goldman Sachs are among the banks providing interim lending facilities, the FT said.
Advent and Cobham's respective financial and corporate broking advisers - Goldman Sachs, Citigroup and Credit Suisse for Advent and Bank of America Merrill Lynch, JPMorgan Cazenove and Rothschild & Co for Cobham - stand to share up to GBP45.8 million, the FT added.
https://www.ft.com/content/c981d146-c406-11e9-a8e9-296ca66511c9