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l a y t o n , D u b l i e r amp。 R i c e ( w / m g m t ) D y n a t e c h C o r p . 1998 7 6 2 . 9 0$ K o h l b e r g amp。The McGrawHill Companies, Inc., 2020 Irwin/McGraw Hill 34 7 Spinoffs, etc. ? Spin off debut independent pany created by detaching part of a parent pany39。The McGrawHill Companies, Inc., 2020 Irwin/McGraw Hill 34 8 Privatization ? Motives for Privatization: 1. Increased efficiency 2. Share ownership 3. Revenue for the government 169。The McGrawHill Companies, Inc., 2020 Irwin/McGraw Hill 34 10 Conglomerates S a l e s R a n k C o m p a n y N u m e b r o f I n d u s t r i e s8 I T T 3815 T e n n e c o 2842 G u l f amp。The McGrawHill Companies, Inc., 2020 Irwin/McGraw Hill 34 11 Private Equity Partnership Investment Phase Payout Phase General Partner put up 1% of capital General Partner get carried interest in 20% of profits Limited partners put in 99% of capital Limited partners get investment back, then 80% of profits Investment in diversified portfolio of panies Sale or IPO of panies Partnership Partnership Company 1 Company 2 Company N Mgmt fee