Reported 4 months ago
Encyclopaedia Britannica Inc., the publisher known for its encyclopedia and dictionary, is seeking fresh capital to repay debts owed by Swiss owner Jacob E. Safra. Jefferies Financial Group Inc. has been approached to raise over $450 million in capital with an equity component. The funds will be used to pay off Safra's existing debt, unrelated to Britannica. Plans for an IPO were recently delayed due to the capital raise, but Britannica remains committed to the IPO, aiming for a valuation of $1 billion in the U.S.
Source: YAHOO