$380 Mln Dividend from Getty Images, Investors Makes Nearly All of its Money Back

According to PEHUB the Seattle-based Getty Images is launching a $275 million term loan that will be used to pay a special dividend of about $380 million, according to Moody’s Investors Services. Standard & Poor’s Ratings Services says Getty will use proceeds from the loan, along with $115 million in cash, to fund a roughly $379 milliondistribution to its shareholders.

Getty Images distributes still imagery, video and multimedia products. The company produced revenues of about $945 million through the 12 months ended December 2011, Moody’s says. In 2008, Hellman & Friedman acquired Getty Images in a deal valued at $2.4 billion. A trust representing certain Getty family members is also a shareholder, Moody’s says.

Hellman & Friedman invested up to $941.3 million equity in Getty as part of the buyout,according to SEC filings.

The $380 million dividend is the second time Hellman & Friedman will get paid. In late 2010, Getty paid out a $496 million dividend to its sponsors. In all, it looks like Hellman & Friedman has made back most of its investment in Getty Images.


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