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Alltel Corporation
exitedTelecom — TPG / Goldman Sachs
Deal Terms
Entry Year2007
Entry EV$27.5B
Entry Multiple9x
Leverage6.5x
Debt Amount$22.2B
Outcome
Exit Year2009
Risk Metrics
LTV (est.)81%
Debt / EV0.81x
Notes
$27.5B LBO — largest telecom PE deal ever. Remarkably swift exit: Verizon Wireless acquired Alltel for $28.1B just 14 months later (Jan 2009). TPG/Goldman made a profit despite timing at the peak of the credit bubble. One of the luckiest PE exits in history — financial crisis was weeks away.
Sponsor
TPG Inc.$230B AUM