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Book Sections Year : 2023

Financialization, the Private Equity Industry and LBOs

Abstract

EMI (UK), MEC (Canada), Kmart (US), Pages Jaunes (France), New Look (UK), Camaïeu (France), Naf-Naf (France), Toys “R” Us (US), André (France), Postmedia (Canada): the economic press reg ularly reports on emblematic restructurings involving companies under leveraged buy-out (LBO). In France, the French Association of Investors for Growth (AFIC), which became France Invest in 2018, representing financial professionals specializing in this field, emphasizes the contribution of its members “to economic dynamism” and “the creation of value for the company”, as well as their “leading position on environmental, social and governance issues”. What is it really like? This chapter proposes to analyze the private equity industry, its objectives, its actors, to decipher the legal and financial mechanisms implemented during the acquisition of companies and to study the economic and social consequences.
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Dates and versions

hal-04081524 , version 1 (25-04-2023)

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Isabelle Chambost. Financialization, the Private Equity Industry and LBOs. Thomas Lagoarde-Segot. Ecological Money and Finance, Exploring Sustainable Monetary and Financial System, Springer International Publishing, pp. 511-547, 2023, 978-3-031-14231-4. ⟨10.1007/978-3-031-14232-1⟩. ⟨hal-04081524⟩
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