KudoZ home » English to Russian » Finance (general)

cash-and-debt free basis

Russian translation: без учета свободных денежных средств и заемных средств

Advertisement

Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs
(or are passionate about them). Participation is free and the site has a strict confidentiality policy.
GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:cash-and-debt free basis
Russian translation:без учета свободных денежных средств и заемных средств
Entered by: Svetlana Chekunova
Options:
- Contribute to this entry
- Include in personal glossary

11:53 Nov 2, 2006
English to Russian translations [PRO]
Law/Patents - Finance (general)
English term or phrase: cash-and-debt free basis
The Purchase Price shall equal __M€ on a cash-and-debt free basis and is payable in five (5) installments as follows:
balticvip
Local time: 11:37
с учетом свободных денежных средств и без учета заемных средств
Explanation:
Я думаю, тут немного другой смысл. Как мне кажется, речь идет о методе определения покупной цены компании, а не о способе ее выплаты.
Во-первых, "cash-free" - возможно соответствует "free cash flow",
http://www.proz.com/kudoz/1254905

а "debt-free" - без (вернее) до заемных средств (т.е. в отчете о прибылях и убытках до процентных выплат).

Например:

The problem with adjusting the multiplier, as in the preceding example, is that an asset pricing model is required. Without the guide provided by the model there is no way to determine how the multiplier should be changed. However, currently there is little consensus on the appropriate model. A safer solution, therefore, is to select a broad measure of income like EBIT, EBIDT, earnings on a debt-free basis, cash flow on a debt-free basis or sales as the financial variable

или вот:

In addition to considering the level of value, choosing which valuation metric best describes the value of a company can
often depend upon the company itself. Is the company capital intensive? Is it over-leveraged? Is it under-leveraged? Is it development stage? Is it reinvesting heavily to fund more rapid growth? Importantly, is it any of these things relative to its peers? If a company is being valued even on a minority interest basis, and it is, say, over-leveraged relative to most publicly traded companies
in its industry, then valuation on a debt free basis can help to normalize some of that differential. The only danger here is that it is easy to understate the risk borne by minority investors in an over-leveraged company, because their subordinate position
exposes them to a very high degree of volatility of returns...
http://www.jlpierson.com/jlpmar03.pdf.

When determining discount and capitalization rates, you have the option to use either the Build-Up method or the Capital Asset Pricing Model (CAPM) method. If you are valuing the company on a debt-free basis, you can convert the discount and capitalization rates to their debt-free equivalents based on the company’s weighted average cost of capital...
http://www.moneysoft.com/dealsenseplus/fair_market_valuation...

EBIT

Earning before Interest and Taxes. Standard for evaluating a company on a debt-free basis.

А вот этот пример, по-моему, говорит о том, что способ уплаты цены оговаривается отдельно:
On 3 November 2003 S&N announced that it has agreed to sell its Retail Division to Spirit Amber Bidco for total proceeds of £2,510 million on a cash-free, debt-free basis, payable in cash...
http://www.scottish-newcastle.com/snplc/ir/fininfo/transacti...

--------------------------------------------------
Note added at 19 час (2006-11-03 07:18:21 GMT)
--------------------------------------------------

Хотя, возможно, без учета свободных денежных средств:

The premium on a cash free basis is calculated by deducting Gambro’s net cash position of SEK 6,416 million as of December 31, 2005 from both the total offer value and Gambro’s market capitalization and then dividing the adjusted offer value by the adjusted market capitalization.
http://www.investorab.com/NR/rdonlyres/F7077547-C8F3-46B0-A7...

или вот:

Under the Sale and Purchase Agreement, Brammer will sell (or procure the sale of) the Livingston Calibration Business to Air Liquide for a cash consideration of €32 million (£22.5 million) (calculated on a debt and cash-free basis, and subject to adjustment to reflect the amount of cash and debt in the business at completion of the Disposal).
http://www.brammer.biz/news_detail.aspx?catId=3&news_id=8

--------------------------------------------------
Note added at 19 час (2006-11-03 07:21:13 GMT)
--------------------------------------------------

и опять же:
http://www.proz.com/kudoz/1171297
Selected response from:

Svetlana Chekunova
Russian Federation
Local time: 11:37
Grading comment
2 KudoZ points were awarded for this answer

Advertisement


Summary of answers provided
3 +1с учетом свободных денежных средств и без учета заемных средств
Svetlana Chekunova
3(покупная цена), предусматривающая наличный расчет/расчет наличными (не в рассрочку)
Zamira*****


  

Answers


25 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
(покупная цена), предусматривающая наличный расчет/расчет наличными (не в рассрочку)


Explanation:
The Board of Imperial Tobacco announces that it has agreed to acquire 90.01 per
cent. of the issued share capital of Reemtsma Cigarettenfabriken GmbH on a cash
and debt free basis for a total consideration of euro 5,221 million (£3,184
million),* to be satisfied in cash* on Completion.

--------------------------------------------------
Note added at 28 mins (2006-11-02 12:22:24 GMT)
--------------------------------------------------

http://moneyam.uk-wire.com/cgi-bin/articles/2002030707180255...

Zamira*****
Russian Federation
Local time: 11:37
Meets criteria
Specializes in field
Native speaker of: Native in RussianRussian, Native in UzbekUzbek
PRO pts in category: 429

Peer comments on this answer (and responses from the answerer)
neutral  ruslingua: вряд ли компании покупают за наличный расчет
1 day20 hrs
Login to enter a peer comment (or grade)

19 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
с учетом свободных денежных средств и без учета заемных средств


Explanation:
Я думаю, тут немного другой смысл. Как мне кажется, речь идет о методе определения покупной цены компании, а не о способе ее выплаты.
Во-первых, "cash-free" - возможно соответствует "free cash flow",
http://www.proz.com/kudoz/1254905

а "debt-free" - без (вернее) до заемных средств (т.е. в отчете о прибылях и убытках до процентных выплат).

Например:

The problem with adjusting the multiplier, as in the preceding example, is that an asset pricing model is required. Without the guide provided by the model there is no way to determine how the multiplier should be changed. However, currently there is little consensus on the appropriate model. A safer solution, therefore, is to select a broad measure of income like EBIT, EBIDT, earnings on a debt-free basis, cash flow on a debt-free basis or sales as the financial variable

или вот:

In addition to considering the level of value, choosing which valuation metric best describes the value of a company can
often depend upon the company itself. Is the company capital intensive? Is it over-leveraged? Is it under-leveraged? Is it development stage? Is it reinvesting heavily to fund more rapid growth? Importantly, is it any of these things relative to its peers? If a company is being valued even on a minority interest basis, and it is, say, over-leveraged relative to most publicly traded companies
in its industry, then valuation on a debt free basis can help to normalize some of that differential. The only danger here is that it is easy to understate the risk borne by minority investors in an over-leveraged company, because their subordinate position
exposes them to a very high degree of volatility of returns...
http://www.jlpierson.com/jlpmar03.pdf.

When determining discount and capitalization rates, you have the option to use either the Build-Up method or the Capital Asset Pricing Model (CAPM) method. If you are valuing the company on a debt-free basis, you can convert the discount and capitalization rates to their debt-free equivalents based on the company’s weighted average cost of capital...
http://www.moneysoft.com/dealsenseplus/fair_market_valuation...

EBIT

Earning before Interest and Taxes. Standard for evaluating a company on a debt-free basis.

А вот этот пример, по-моему, говорит о том, что способ уплаты цены оговаривается отдельно:
On 3 November 2003 S&N announced that it has agreed to sell its Retail Division to Spirit Amber Bidco for total proceeds of £2,510 million on a cash-free, debt-free basis, payable in cash...
http://www.scottish-newcastle.com/snplc/ir/fininfo/transacti...

--------------------------------------------------
Note added at 19 час (2006-11-03 07:18:21 GMT)
--------------------------------------------------

Хотя, возможно, без учета свободных денежных средств:

The premium on a cash free basis is calculated by deducting Gambro’s net cash position of SEK 6,416 million as of December 31, 2005 from both the total offer value and Gambro’s market capitalization and then dividing the adjusted offer value by the adjusted market capitalization.
http://www.investorab.com/NR/rdonlyres/F7077547-C8F3-46B0-A7...

или вот:

Under the Sale and Purchase Agreement, Brammer will sell (or procure the sale of) the Livingston Calibration Business to Air Liquide for a cash consideration of €32 million (£22.5 million) (calculated on a debt and cash-free basis, and subject to adjustment to reflect the amount of cash and debt in the business at completion of the Disposal).
http://www.brammer.biz/news_detail.aspx?catId=3&news_id=8

--------------------------------------------------
Note added at 19 час (2006-11-03 07:21:13 GMT)
--------------------------------------------------

и опять же:
http://www.proz.com/kudoz/1171297



    Reference: http://www.baptiststandard.com/2000/4_24/pages/on_delcity.ht...
    Reference: http://www.hss.caltech.edu/courses/2005-06/Spring/bem107/Rea...
Svetlana Chekunova
Russian Federation
Local time: 11:37
Meets criteria
Specializes in field
Native speaker of: Native in RussianRussian
PRO pts in category: 42
1 corroborated select project
in this pair and field What is ProZ.com Project History(SM)?

Peer comments on this answer (and responses from the answerer)
agree  ruslingua: без учета свободных средств и задолженности компании
1 day2 hrs
  -> спасибо) запуталась
Login to enter a peer comment (or grade)




Return to KudoZ list


KudoZ™ translation help
The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.



See also:



Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search