In this conversation, Essama ATANGANA explains the principles of LBO (Leveraged Buyout) and leveraged debt. It presents the process of an LBO transaction, where the investor borrows money to acquire a target company. He highlights benefits, such as financial leverage, tax reduction and the ability to quickly grow a business group. However, he also mentions the disadvantages, such as the complexity of the operation, shared governance and debt management. Essama ATANGANA advises starting with simpler operations before embarking on a complete LBO.