TITLE

Did Schorsch Overpay for Cetera?

AUTHOR(S)
Britton, Diana
PUB. DATE
February 2014
SOURCE
REP.;Feb2014, Vol. 38 Issue 2, p9
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports that RCS Capital Corp. (RCAP) is buying Cetera Financial from private equity firm Lightyear Capital for about one times Cetera's trailing 12-month revenue. Cetera's estimated 2013 revenue was 1.14 billion dollars. RCAP is getting 725 million dollars of committed debt financing from Barclays and Bank of America Merrill Lynch.
ACCESSION #
94592587

 

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