Goldman Sachs and Texas Pacific Group collected hundreds of millions of dollars in payments from this company before it went public, including a special dividend of $367,000,000. Miami-based Burger King became a publicly traded company May 18. About $350 million of the $392 million in net proceeds raised in the IPO was used to retire secured debt.
This is another great reason why Chippewa Partners has never involved clients with IPO's. If these companies were so great for the private equity guys why would they sell them to the general public? The beat goes on, buyer beware.
No comments:
Post a Comment