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Lloyd Webber's useful GBP 60m loan
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Newspaper Article
Lloyd Webber's useful GBP 60m loan
1999
Overview
WITH GBP 350million to his name, he is tagged as Britain's 54th richest man, but even Andrew Lloyd-Webber had to go cap in hand to his bank manager to regain control of his own company. The man behind hit shows Jesus Christ Superstar, Cats and Phantom Of The Opera borrowed GBP 60million from the Royal Bank of Scotland to buy back 181,450 shares in the Really Useful Group. The shares, which represent a 30 per cent stake in the company, give him complete control of the organisation he founded in 1977 to manage his productions. Now, after paying GBP 47million to Universal Studios to buy back his company, he has GBP 13 million of the loan left to help finance the expansion of his empire.
Publisher
DMG Business Media Ltd
Subject
