Mandeville

It is a project based on the acquisition and consolidation of pay television companies in Argentina. 70 purchases of companies have been made in 9 months, together with their later consolidation and sale. It was an investment of 500 million dollars and the rate of return was of 120%.

Investment

• $367.520.000 (1997)
• $100.000.000 Capital
• $267.520.000 Debt

Project

• - Acquisition of 62 cable TV companies in Argentina.
• - Total amount of subscribers: 436,000.

Kind of transaction

LBO

Source

Syndicated Bank

Description of the Project

• - First consolidation of cable television companies in Latin America.
• - Acquisition of 62 companies in 9 months.
• - Average purchase price per subscriber $800
• - Savings in operating costs consolidating the acquired companies.

Current State

• - Finished in 1998. Starting value: $525,000,000.
• - Sold to Cablevision, the most important cable TV company of Argentina.

TIR

125%

Important Value Creation (U$S in million)