PETCO Planning Dividend Recap?
November 5, 2010- Share:
PE-backed PETCO is reportedly looking to raise $1.725 billion in debt financing in order to pay a dividend to Leonard Green & Partners and TPG Capital. The two firms first invested in the retailer of pet and veterinary supplies in 2000 before taking the company public in February 2002. Then, in 2006, the firms, along with Freeman Spogli & Company and JZ Capital Partners, took the company private again in an approximately $1.6 billion LBO.
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