Incisive Media's management bidding to stage debt-for-equity swap

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Business magazine publisher Incisive Media, whose titles including Computing and Accountancy Age, is preparing to execute a debt-for-equity deal led by its management.

According to MediaWeek, Incisive’s management, led by global chief executive Tim Weller, is set to buy an initial 10 per cent stake in the business, which could rise to 24 per cent.

The deal could be completed within the next three weeks, claims the report.

Incisive Media is currently 59 per cent owned by private equity firm Apax Partners, other shareholders include Ingenious Media and Caledonia Investors.

The move after an attempted takeover bid of Incisive by Critical Information Group last week was rejected by Incisive’s lender, the Royal Bank of Scotland.

In December last year, Incisive Media breached the terms of its £174m loan deal with RBS and asked its staff to take unpaid leave over Christmas, leading to takeover rumours.

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