Valeant Sells Obagi Medical Products Business in Latest Effort to Cut Debt

[RobertPhillips900]

Valeant has entered into an agreement to sell its Obagi Medical Products business for $190MM in cash to Haitong International Zhonghua Finance Acquisition Fund I, L.P.

$VRX intends to use the proceeds from the sale to permanently repay term loan debt under its Senior Secured Credit Facility. http://alph.st/b746d900

 

[anonymous]

Valeant has entered into an agreement to sell its Obagi Medical Products business for $190MM in cash to Haitong International Zhonghua Finance Acquisition Fund I, L.P.

$VRX intends to use the proceeds from the sale to permanently repay term loan debt under its Senior Secured Credit Facility. http://alph.st/b746d900

We bought it for $390m, and it generates a net income of $30m/year. So, it's a wonderful deal. Hopefully, our petite blonde Treasurer will pay off the higher interest tranches first.

 

[anonymous]

Debt...management....enterprise.

 

[anonymous]

We bought it for $390m, and it generates a net income of $30m/year. So, it's a wonderful deal. Hopefully, our petite blonde Treasurer will pay off the higher interest tranches first.

You'll be able to write off a chunk of goodwill on this loser, which will be below the line. Let's see if anyone is willing to pay $4bn for B&L, since you paid $8bn for it. That will knock off another $4bn of debt.

 

[anonymous]

You'll be able to write off a chunk of goodwill on this loser, which will be below the line. Let's see if anyone is willing to pay $4bn for B&L, since you paid $8bn for it. That will knock off another $4bn of debt.

And also sell Salix for 10b? Let's do the math here, 4b (B&L) + 10b (Salix) and 25b of debt, which will leave 11b debt and 0 revenue. And then can we file for Chapter 7?