Skip to Main Content
HBS Home
  • About
  • Academic Programs
  • Alumni
  • Faculty & Research
  • Baker Library
  • Giving
  • Harvard Business Review
  • Initiatives
  • News
  • Recruit
  • Map / Directions
Faculty & Research
  • Faculty
  • Research
  • Featured Topics
  • Academic Units
  • …→
  • Harvard Business School→
  • Faculty & Research→
Publications
Publications
  • February 2011 (Revised January 2017)
  • Case
  • HBS Case Collection

Countrywide plc

By: Stuart C. Gilson and Sarah L. Abbott
  • Format:Print
  • | Language:English
  • | Pages:26
ShareBar

Abstract

One of the world's leading investors in distressed companies, Oaktree Capital Management, is contemplating a "loan to own" investment in the debt of Countrywide plc, a financially troubled residential real estate agent based in the U.K. Only sixteen months earlier, Countrywide was acquired by private equity investor Apollo Management L.P. in a leveraged buyout. Although Countrywide is the largest real estate agent in the U.K., and has a strong portfolio of assets, its economic fortunes have declined suddenly with the widespread collapse of global financial and real estate markets, putting it in danger of defaulting on its debt and having to restructure under a U.K. Scheme of Arrangement.

Keywords

Mergers And Acquisitions; Restructuring; Financial Crisis; Capital Structure; Insolvency And Bankruptcy; Financial Management; Investment; Real Estate Industry; United Kingdom

Citation

Gilson, Stuart C., and Sarah L. Abbott. "Countrywide plc." Harvard Business School Case 211-026, February 2011. (Revised January 2017.)
  • Educators
  • Purchase

About The Author

Stuart C. Gilson

Finance
→More Publications

Related Work

    • February 2011 (Revised January 2017)
    • Faculty Research

    Countrywide plc

    By: Stuart C. Gilson and Sarah L. Abbott
Related Work
  • Countrywide plc By: Stuart C. Gilson and Sarah L. Abbott
ǁ
Campus Map
Harvard Business School
Soldiers Field
Boston, MA 02163
→Map & Directions
→More Contact Information
  • Make a Gift
  • Site Map
  • Jobs
  • Harvard University
  • Trademarks
  • Policies
  • Digital Accessibility
Copyright © President & Fellows of Harvard College