Sounds like Bain was hoping for another Hinckley deal.
While the article paints a gloomy picture, if you get into the details it looks like Goldman Sachs is the one that is most at risk on this one -- Bain seems to have negotiated very lenient credit terms for this LBO of Bavaria. Bain has a good track record for coming out ahead...
06-17-2008 04:50 PM
Bavaria next to go?
Looks like Bavaria is in rather deep financial trouble. Buyers beware of warranties that can't be backed up and deposits that may be lost to creditors.