Foxtons: The London estate agent must have looked a good buy when private equity group BC Partners paid £390m to founder Jon Hunt for it in May 2007. But with house prices at the top of the market and the financial crisis around the corner, the deal turned into a debt fiasco. After more than a year of talks over restructuring approximately £300m in debt, creditors Bank of America and Mizuho agreed a refinancing deal in return for a majority stake.
via telegraph.co.uk
http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/69505...
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