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Bain Capital sheds Edcon in $1.5bln debt/equity swap

Image Credit: Edcon

U.S. private equity firm Bain Capital is taking its losses and exiting South Africa-based clothing retailer Edcon in a $1.5 billion debt for equity swap with the company’s bond holders. According to Reuters, Bain has spent more than $460 million on the company, which it took private in a $3.5 billion leveraged buyout deal in 2007.

Read more at Reuters…   

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