Updated
Updated · Bloomberg · Jul 7Autodoc Raises €530 Million Loan to Buy Back Apollo Minority Stake
1 articles · Updated · Bloomberg · Jul 7Summary
- Autodoc launched a €530 million debt financing on Tuesday to fund the repurchase of a minority stake held by Apollo Global Management.
- The German online car-parts retailer is selling a seven-year term loan B as the main funding vehicle for the buyback.
- The deal would reduce Apollo’s ownership in Autodoc and reshuffle the company’s shareholder base through debt rather than new equity.
Insights
Having paid Apollo to prepare for an IPO, why is Autodoc now taking on €530M in debt instead of going public? How will Autodoc use its new debt-fueled independence to dominate Europe's online auto parts market?