Educational publisher Riverdeep is facing annual interest bills of more than $500 million to service its bank debt, following the company’s $4 billion acquisition of a rival publisher last week.
Riverdeep borrowed about $3.7 million to help fund the acquisition of Harcourt Education, the US educational publishing division of Anglo Dutch company Reed Elsevier.
The deal comes just eight months after Riverdeep pulled off a $4.95 billion reverse takeover of US publishing giant Houghton Mifflin. The...
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