Mergers & Acquisitions
|
|
- Bryan Scott
- 6 years ago
- Views:
Transcription
1 Mergers & Acquisitions This course is presented in London on: May 2018, October 2018 This course can also be presented in-house for your company or via live on-line webinar The Banking and Corporate Finance Training Specialist
2 Course Objectives Participants will: Be introduced to strategic issues facing a company, including the drivers of growth, the company life cycle, the concepts in acquisitions of risk and return and the product market s growth and decline Get an overview of growth through acquisition with assessing the alternatives and how to determine whether or not to make the acquisition. Have explained Course to Overview them the acquisition process, due diligence, the verification process and how to establish the important acquisition criteria Gain an understanding of the structure of the acquisition including key points in the legal agreements, integration, success and failure factors and the importance of the integration team Get to grips with key legal issues in acquisitions such as earn-outs and incentivisation Be introduced to the sale process, what the seller s motives are and what the different methods of sale could be Get an overview of preparing the company for sale, how to optimise the operation, clear important legal points and choose the appropriate advisers Have explained to them how to initiate the process by preparing the key documents and the management of the sale operation Gain an understanding of the operation of the sale process, what are the costs, how an auction works, the risks involved and the timescale Cover how to seal the deal and the alternative outcomes to a trade sale Be introduced to major valuation principles Get an overview of the accounting approach with the accounting measure of performance and value, and the problems involved with operative accounting Have explained to them accounting valuation metrics with net asset valuations and dividend-based models, as well as the application of earnings-based multiples Gain an understanding of the comparable company valuation issues, and ascertain whether comparability is achievable Be taught about how to calculate the cost of capital including assessing the cost of debt and calculating the cost of equity Experience the use of the cash flow approach to valuation Be introduced to the reasons for the growth of private equity and leveraged buyouts Get an overview of the principles of leveraged finance Have explained to them the use of debt to drive equity value and also how to structure the transaction Be taught how to identify and close a good private equity transaction Have an overview on the ideal company characteristics of an MBO candidate and how to avoid conflicts of interest Background of the Trainer The trainer has over 40 years of City experience, encompassing banking, investment banking, M&A, and corporate finance at Citicorp, early stage investment, and corporate advisory work. He is a director of several companies and chairman of a fast-growing software company quoted on AIM. Besides having been a visiting lecturer at the City of London (now Cass) Business School, he has 20 years experience of delivering in-house training to leading banks and investment banks in the UK, Europe, Africa, Asia and the USA, and public courses in UK, Europe and Asia covering M&A, company valuation, investment banking, corporate finance and credit analysis.
3 Course Content Day 1 - How to Buy a Business The Drivers of Growth The need to deliver shareholder value The company life cycle The importance of directors recognising the value curve Risk and return Relating risk to the life cycle phase of the company / target Product market growth and decline Evaluating niches, substitutes, value in innovation REVIEW: Comparison and contrast of the lifecycle of three different companies, highlighting how success or failure with acquisitions has determined their fate ICI Debenhams GKN Growth through Acquisition Assessing the alternatives Investment JV Acquisition DISCUSSION: Advantages and disadvantages of each approach Determining the acquisition Market objectives Consolidating a fragmented market Building the value proposition Management issues Assessing cultural fit Price parameters Knowledge of comparative deals Opportunity cost Is it a now or never deal REVIEW: The Ansoff Matrix, a handy way to categorise potential risks in acquisition strategies Pitfalls to avoid Realism of synergies Defining a synergy Identifying the likely presence of a synergy Risks of prediction, cost and achievement Accounting standards Who is the auditor, what principles are followed GAAP versus IFRS Judging forecasts Scepticism rules
4 Commercial factors The target s history Recurring revenue Intellectual property Customer base CASE STUDY: Reviewing company information to arrive at a value, taking into account qualitative and strategic factors The Acquisition Process Establishing acquisition criteria Target size and affordability Potential synergies Market / competitor impact Regulatory factors Shareholder impact Due Diligence Investigation prior to offer Public sources Private sources Verification Contracts Accounts Pensions Employee disputes Litigation CASE STUDY: Reviewing summary information on a company to determine which areas need investigation and who should have responsibility for the task Deal structuring Earn-out / deferred consideration Non-compete undertakings Warranties and indemnities Disclosure letters Acquisition Integration Success / failure factors The importance of the integration team Earn outs and accounting issues Incentivising key managers Establishing clear reporting lines Day 2 Valuing a Business Overview of the Process Motives and objectives of the vendor Which outcome is preferred Cash only sale with honour Management buyout
5 IPO Timescale Preparing the Company for sale Optimising the operations Removing skeletons, resolving related party conflicts Resolving accounting / audit issues Tightening up provisions, write offs, stock obsolescence Clearing legal points Employee issues Customer / supplier disputes Choosing advisers Tax considerations The vendor s tax position Company PAYE, corporation tax Quiz: What are the top ten objectives of a vendor Issues in assessing the value of the business Other factors Intellectual Property Market share Customer base Niche products Strategic value to a buyer Initiating the Process Choosing advisers Investment bank Merger brokers Accountants Other Agreeing the mandate Fees Retainer, success, no go Exclusions Companies and territories Time limits Indemnities Preparing key documents Information memorandum Support material Confidentiality undertakings, product information Due diligence pack Reasons for, use of virtual data rooms Management preparation Confidentiality Conflicts of interest The sale team Presentation material The Sale Process
6 The cost / risk / timescale issues in A trade sale Buyout IPO Trade sale approaches Public auction Private auction Bilateral negotiation Organising an auction Identifying the purchasers Tiering prospects into probables, possibles, maybe Defining the deadlines The importance of realism Contact and confidentiality Dealing with large company buyers Judging the offers Will a no price offer work? Conducting the second stage discussions Company and management visits Preferred bidder and exclusivity How long for exclusivity? CASE STUDY: Reviewing an information memorandum on a company sale to assess: the value of the business, the most likely buyers Sealing the deal Earn-outs Bridging the valuation gap Warranties, disclosure letter Buyer / vendor conflict Time limits, caps Completion accounts Comfort letters Alternative outcomes IPO, timescale MBO, management conflicts Post exit lock-in Ongoing relationship Day 3 - How to Sell a Business Valuation Principles Value to whom? Price and intrinsic value The risk / return trade off Strategic risk The Accounting Approach Accounting measures of performance and value Problems of the accounting approach Are profits relevant? GAAP vs IFRS Creative accounting How to find it
7 Recent examples Review: Was the near collapse of Quindell inevitable? Accounting Valuation Metrics Asset and net asset valuations Dividend-based models Dividend yield Dividend discounting The application and drawbacks of dividend models Earnings-based metrics Price / earnings ratios P/E strengths and weaknesses PEG ratios Enterprise value Exercise: Valuation of a business using different metrics Comparable Company Valuation Issues Is the comparability achievable? Accounting principles Averages, medians, outlines Listed vs private Sustainability of earnings Business model flexibility Exercise: Project Oxford, using comparable company techniques to value a company for acquisition Calculating the Cost of Capital Assessing the cost of debt Calculating the cost of equity The risk free rate Equity premium Beta The weighted average cost of capital The flaws in the capital asset pricing model Alternative approaches Exercise: Calculating the cost of equity and the weighted average cost of capital The Cash Flow Approach to Valuation The time value of money Calculating the discount rate Forecasting free cash flow Calculating FCF Identifying value drivers Terminal value Exercise: Discounting free cash flow to arrive at a value per share Exercise: Project Media. Using an Excel spreadsheet and given assumptions to arrive at a value of a company that is an acquisition target
8 Project Media II. Varying inputs, in particular the debt / equity mix of the acquisition financing, to consider the maximum price that could be paid for the target Day 4 - Private Equity & Management Buy-outs The Growth of Private Equity and Leveraged Buyouts The academic rationale for the use of leverage Modigliani/Miller theory Michael Milken s research Growth of shareholder activism Reviving under performers Changes in company law The development of the European high yield bond and securitisation markets The Principles of Leveraged Finance The use of debt to drive equity values Cash flow management Reducing debt to drive equity value Operational improvements Building need to have Incentivisation of management Getting rich together Cash-capture clauses Exercise: Good or Bad LBO? Discussion of recent transactions to see which ones the attendees would do, and what lessons can be learned about elements of success or failure Structuring the transaction Target IRR Assessing the return appropriate to the risk Assessing debt capacity Forecasting future cash generation Senior / mezzanine debt mix Judging asset values Forecasting exit values Consideration of non-bank finance High-yield bonds Terms and size of issue Second lien debt Too much debt? PIK finance Saint or sinner? Vendor loan notes Making the deal look good Case Study: Based on information provided attendees are tasked with structuring the finance for an MBO. Answers are discussed to identify the critical elements in the financing Legal elements Warranties and indemnities
9 Investor protection New Memo & Arts Incorporating P.E. control elements Tag along and drag along clauses Control of the exit Veto rights for private equity Control of management Management Jensen and Meckling agency theory Why buyouts work The envy ratio Management incentivisation Agreeing the ratchet Carrot and stick Good leaver / bad leaver provisions Covering under performance Exercise: Agreeing the terms of the envy ratio Identifying and Closing a Good Transaction Ideal company characteristics The three golden rules MBO / MBI Assessing management strength Meeting vendors expectations Structuring the deal Avoiding conflicts of interest Recognising the risks of multi-layered financing Due diligence Investigation and verification Tie-in with contract terms Structuring the debt appropriate to the business Discussion: How to finance the acquisition of Manchester United. The Man U accounts are reviewed with the object of deciding how to finance its acquisition. Answers are compared to the actual result. Exit Control by P.E. house IPO Second round financing Trade sale The living dead
10 Course Summary This four day M&A course covers all aspects of buying, selling, valuing private companies and management buy-outs. The first day of this mergers & acquisitions course covers creating shareholder value through the pursuit of a successful M + A strategy has been shown to be a far from riskfree activity. Buyers overpaying or using inappropriate financing methods can lead to destruction of value and in some cases financial distress. Day one covers topics of risk and return, process, investigation and integration as a practical guide to identifying and negotiating acquisitions The second day of this mergers & acquisitions course covers the practical steps that are required to plan, negotiate, and close a successful sale. Valuing the business to be sold and the effective presentation of the commercial attractions of the business are key elements, as are choosing the appropriate advisers and running a competitive auction. The third day of this mergers & acquisitions course covers the topics of the financial ratios used in comparable company valuation, creative accounting, and the cost of capital, forecasting and discounting free cash flow. Exercises include the use of an Excel spreadsheet as input to valuing a business and, accordingly, attendees are requested to bring a laptop to the course. The fourth day of this mergers & acquisitions course covers the principles and practicalities involved in arranging and negotiating a management buyout. In addition to the legal issues to be addressed, the use of bank debt and other financial instruments is examined in the context of developing a workable structure for the deal. What Redcliffe s clients are saying about the course; Good overview of structure of deal, made very understanding, much clearer Great case studies & anecdotes Brilliant trainer, very knowledgeable and practical points shared
11 09:30-17:00 London Standard Price: VAT Membership Price: VAT In-House Training Delivering this course in-house for a number of participants could be very cost effective. The venue and timing can be agreed to suit the client, as well as the selection of the trainer and the precise contents of the seminar. Tailored Learning All of our training courses can be tailored to suit your company s exact training needs. We will work closely with you to help develop a training programme with content that is unique for your organisation. Please us on enquiries@redcliffetraining.co.uk for more information E-Learning This course can also be presented as a bespoke e-learning programme created by you to fit your exact requirements.
Mergers & Acquisitions This course is presented in London on: 4-7 October 2016, January 2017, 9-12 May 2017, 2-5 October 2017
Mergers & Acquisitions This course is presented in London on: 4-7 October 2016, 16-19 January 2017, 9-12 May 2017, 2-5 October 2017 The Banking and Corporate Finance Training Specialist Course Overview
More informationValuing A Business. This course is presented in London on: 24 October January July November 2019
Valuing A Business This course is presented in London on: 24 October 2018 16 January 2019 10 July 2019 13 November 2019 This course can also be presented in-house for your company or via live on-line webinar
More informationValuing A Business. This course is presented in London on: 17 May 2018, 24 October The Banking and Corporate Finance Training Specialist
Valuing A Business This course is presented in London on: 17 May 2018, 24 October 2018 The Banking and Corporate Finance Training Specialist Course Objectives Participants will: Be introduced to major
More informationValuing A Business. This course is presented in London on: 16 January July November 2019
Valuing A Business This course is presented in London on: 16 January 2019 10 July 2019 13 November 2019 If you have 4 or more participants, it may be cost effective to have this course presented in-house
More informationAdvanced Structuring of LBOs & Private Equity Transactions
Advanced Structuring of LBOs & Private Equity Transactions A comprehensive examination of PE reviewing the 3 stages from PE, lender, advisors, management and investor s perspective This course is presented
More informationAdvanced Private Equity, Leverage Buy-Outs and Advanced LBO Modelling Masterclass
Advanced Private Equity, Leverage Buy-Outs and Advanced LBO Modelling Masterclass A 5-day Master-Class A comprehensive examination of PE reviewing the 5 stages from PE, lender, advisors, management and
More informationAdvanced Structuring of LBOs & Private Equity Transactions Masterclass
Advanced Structuring of LBOs & Private Equity Transactions Masterclass A 5-day Master-Class A comprehensive examination of PE reviewing the 5 stages from PE, lender, advisors, management and investor s
More informationAdvanced Structuring of LBOs & Private Equity Transactions
Advanced Structuring of LBOs & Private Equity Transactions A comprehensive examination of PE reviewing the 3 stages from PE, lender, advisors, management and investor s perspective This Course Can Be Presented
More informationCorporate Finance Masterclass
Corporate Finance Masterclass A 3 Day Course This course is presented in London on: 15-17 October 2018, 23-25 January 2019, 17-19 June 2019, 28-30 October This course can also be presented in-house for
More informationAdvanced Structuring of LBOs & Private Equity Transactions Masterclass
Advanced Structuring of LBOs & Private Equity Transactions Masterclass A comprehensive examination of PE reviewing the 5 stages from PE, lender, advisors, management and investor s perspective This Course
More informationSale & Purchase Agreements - The Commercial Issues
Sale & Purchase Agreements - The Commercial Issues Negotiating the contentious topics in SPAs This course is presented in London on: 1 March 2019, 28 June 2019, 28 November 2019 If you have 5 or more participants
More informationAdvanced Negotiation Issues In Financial Covenants
Advanced Negotiation Issues In Financial Covenants An in-depth analysis of financial covenants used in leveraged and real estate loans This course is presented in London on: 18 January 2019, 1 July 2019,
More informationIFRS 9: The Latest Updates
IFRS 9: The Latest Updates A detailed understanding of the latest IFRS 9 updates This course is presented in London on: 20 June 2018, 18 October 2018 This course can also be presented in-house for your
More informationAdvanced Negotiation Issues In Financial Covenants
Advanced Negotiation Issues In Financial Covenants An in-depth analysis of financial covenants used in leveraged and real estate loans This course is presented in London on: 18 January 2019, 1 July 2019,
More informationEquity & Debt Capital Markets
Equity & Debt Capital Markets This course is presented in London on: 16 October 2018, 24 January 2019, 18 June 2019, 29 October 2019 This course can also be presented in-house for your company or via live
More informationModelling for Restructuring
Modelling for Restructuring A Practical 3-day Workshop This course is presented in London on: 24-26 September 2018 This course can also be presented in-house for your company or via live on-line webinar
More informationAdvanced Debt Restructuring
Advanced Debt Restructuring This course is presented in London on: 20-21 November 2018, 1-2 April 2019, 25-26 November 2019 This course can also be presented in-house for your company or via live on-line
More informationStructuring & Negotiating Mezzanine, PIK, Second Lien And Unitranche
Structuring & Negotiating Mezzanine, PIK, Second Lien And Unitranche Analysis of junior debt products - structuring issues, application, terms and pricing This course is presented in London on: 27 November
More information2017 Exit Academy. Evaluating Alternatives and Valuation
2017 Exit Academy Evaluating Alternatives and Valuation Sales Critical Issue Where is Company in Its Lifecycle? Introduction Growth & Adoption Penetration and Maturation Consolidation and Decline Debt
More informationBasic Financial Modelling in Excel
Basic Financial Modelling in Excel A Two Day Programme This course is presented in London on: DATES TBD This course can also be presented in-house for your company or via live on-line webinar The Banking
More informationStructuring & Negotiating Mezzanine, PIK, Second Lien And Unitranche
Structuring & Negotiating Mezzanine, PIK, Second Lien And Unitranche Analysis of junior debt products - structuring issues, application, terms and pricing This course is presented in London on: 10 July
More informationThe Role of the Financial Advisor in an M&A Transaction. Andrea Foti 16 October, 2017
The Role of the Financial Advisor in an M&A Transaction Andrea Foti 16 October, 2017 My background 2017 Investment Banking Advisory Milan 2013 Investment Banking Advisory Milan 2004 Investment Banking
More informationBasic Financial Modelling in Excel
Basic Financial Modelling in Excel A Two Day Programme This course is presented in London on: 14-15 May 2018 This course can also be presented in-house for your company or via live on-line webinar The
More informationCapital Markets Masterclass
Capital Markets Masterclass A Complete Understanding of Debt & Equity Capital Markets This course is presented in London on: 18-20 March 2019, 23-25 September 2019 If you have 5 or more participants it
More informationIntroduction. PEs: the invesment process and the Value Creation
Introduction PEs: the invesment process and the Value Creation 1 Contents - Introduction - PE Stages and Investment Process - Initial Strategic Definition: Types of deal and PEs - Deal Sourcing - Initial
More informationLoan Documentation & Security Issues
Loan Documentation & Security Issues The salient commercial terms in loan documentation and an overview of collateral This course is presented in London on: 11 June 2018, 18 September 2018, 05 November
More informationGreen Bonds. A thorough and practical introduction to the essentials of green bonds. This course is presented in London on: 6 March 2019
Green Bonds A thorough and practical introduction to the essentials of green bonds This course is presented in London on: 6 March 2019 If you have 5 or more participants it may be cost effective to have
More informationNegotiating & Issuing High Yield Bonds
Negotiating & Issuing High Yield Bonds High Yield Bonds Trends in issuance, structuring, covenants, pricing & documentation This course is presented in London on: 17 May 2018, 08 October 2018 The Banking
More informationDue Diligence in Corporate Finance Transactions This course is presented in London on: 8 March 2017, 10 October 2017
Due Diligence in Corporate Finance Transactions This course is presented in London on: 8 March 2017, 10 October 2017 The Banking and Corporate Finance Training Specialist Course Overview There are many
More informationAdvanced LBO Modelling
Advanced LBO Modelling A Practical Workshop This course is presented in London on: 8-9 February 2018, 28-29 June 2018, 15-16 November 2018 The Banking and Corporate Finance Training Specialist Course Objectives
More informationEnglish Law. A two day course for Non-UK Lawyers. This course is presented in London on: October 2018, 1-2 April 2019, 7-8 November 2019
English Law A two day course for Non-UK Lawyers This course is presented in London on: 29-30 October 2018, 1-2 April 2019, 7-8 November 2019 This course can also be presented in-house for your company
More informationUnitranche & Alternative / Direct Lending
Unitranche & Alternative / Direct Lending Reviewing Key Trends, Structures, Documentation & Topical Issues for Direct Lenders, Banks & Borrowers This course is presented in London on: 2 November 2018,
More informationAnalysing and Restructuring Distressed Corporate Debt
Analysing and Restructuring Distressed Corporate Debt Combining Financial Theory with Practical Examples This Course Can Be Presented In The Following Formats: Public Course Dates: 3-5 September 2019 Standard
More informationEquity & Debt Capital Markets
Equity & Debt Capital Markets Examining the main functions and players of capital markets This course can be presented in-house either on your premises or via live webinar for a group of 5 or more participants.
More informationHedge Funds and Alternative Investments
Hedge Funds and Alternative Investments A Two Day course This course can also be presented in-house for your company or via live on-line webinar The Banking and Corporate Finance Training Specialist Course
More informationUnitranche & Alternative / Direct Lending
Unitranche & Alternative / Direct Lending Reviewing Key Trends, Structures, Documentation & Topical Issues for Direct Lenders, Banks & Borrowers This course is presented in London on: 19 June 2018, 09
More informationTakeover Code - Advanced
Takeover Code - Advanced Current Strategies & Tactics This course is presented in London on: 08 November 2018 This course can also be presented in-house for your company or via live on-line webinar The
More informationLeveraged Loans in Private Equity and Corporate Transactions
Leveraged Loans in Private Equity and Corporate Transactions Negotiating the key commercial and legal terms in club and syndicated facility agreements This course is presented in London on: 06 March 2018,
More informationAdvanced Negotiation Issues In Financial Covenants
Advanced Negotiation Issues In Financial Covenants This course is presented in London on: 23 September, 8 February 2017, 19 May 2017, 19 September 2017 The Banking and Corporate Finance Training Specialist
More informationLeveraged Loans in Private Equity and Corporate Transactions
Leveraged Loans in Private Equity and Corporate Transactions Negotiating the key commercial and legal terms in club and syndicated facility agreements This course is presented in London on: 4 October 2018,
More informationGrowth Finance Expertise. Mergers & Acquisitions. Business Banking
Growth Finance Expertise Mergers & Acquisitions 1 Introduction Irish businesses, such as Version 1 in technology and Glanbia in agrifoods, have shown that a well-executed Mergers and Acquisitions (M&A)
More informationIntroduction to The FCA Listing, Disclosure and Transparency and Prospectus Rules
Introduction to The FCA Listing, Disclosure and Transparency and Prospectus Rules This course is presented in London on: 11 October 2018, 27 February 2019, 02 October 2019 This course can also be presented
More informationSecondary, tertiary (OR FOURTH) SUCCESSIVE
Secondary, tertiary (OR FOURTH) SUCCESSIVE buy-out in Germany by Dr. Andrea von Drygalski, P+P Pöllath + Partners A private equity fund has a limited life even if the number of the fund s life is a double
More informationUNIVERSITY TRAINING BOOT CAMP
UNIVERSITY TRAINING BOOT CAMP MERGERS & ACQUISITIONS AND LBO MODELING CURRICULUM AND DETAILED COURSE DESCRIPTIONS +1 (212) 537-6631 +1 (212) 656-1221 (fax) ABOUT WALL ST. TRAINING WALL ST. TRAINING OVERVIEW
More informationFinancial & Valuation Modeling Boot Camp
TARGET AUDIENCE Overview 3-day intensive training program where trainees learn financial & valuation modeling in Excel using in a hands-on, case-study approach. The modeling methodologies covered include:
More informationFundamentals of Loan & Transaction Structuring
Fundamentals of Loan & Transaction Structuring A 2 day Training Workshop This course can also be presented in-house for your company or via live on-line webinar The Banking and Corporate Finance Training
More informationAccounting for Business Combinations (M&A)
Accounting for Business Combinations (M&A) This in-house course can also be presented face to face in-house for your company or via live on-line webinar The Banking and Corporate Finance Training Specialist
More informationDebt Restructuring. Brit. Julian Roche. 31 Aug - 1 Sept Irene Country Lodge, Irene. Presented by: Date: Venue: A Two Day Programme
A Two Day Programme Debt Restructuring Our Accreditation Number 557036 Group bookings of three or more delegates, qualify for a 10% discount. Book and pay by 12 May 2006 and qualify for the Early Bird
More informationDebt Finance for Lawyers This course can also be presented in-house for your company or via live on-line webinar
Debt Finance for Lawyers This course can also be presented in-house for your company or via live on-line webinar The Banking and Corporate Finance Training Specialist Course Overview This programme has
More information2018 IBP Exam Topics Table of Contents
2018 IBP Exam Topics Table of Contents Level I Accounting... 2 Income statement... 2 Balance sheet... 2 Cash flow statement... 2 Financial statement analysis... 3 Financial reporting... 3 Excel... 3 Powerpoint...
More informationCourse Overview. Course Description
Course Overview Course Description The Calgary CFA Society s flagship oil and gas financial modeling course, instructed by Wall Street Prep, is being held in February 2009 at SAIT. This course offers participants
More informationDocumenting & Negotiating Cov-Lite Loans
Documenting & Negotiating Cov-Lite Loans Reviewing The Current Trends In The Market This course is presented in London on: 4 February 2019, 16 September 2019 If you have 5 or more participants, it may
More informationIntercreditor (& AAL) Issues In Leveraged, Real Estate and ABL Transactions
Intercreditor (& AAL) Issues In Leveraged, Real Estate and ABL Transactions Discusses the critical legal and commercial issues in leveraged, real estate and high yield Intercreditor agreements This course
More informationFixed Income Portfolio Asset Allocation
Fixed Income Portfolio Asset Allocation An understanding of the key parameters, methods and models used in the allocation process This in-house course can be presented in-house either on your premises
More informationTreasury Products. Advanced Course. This in-house course can also be presented face to face in-house or via live inhouse webinar for your company
Treasury Products Advanced Course This in-house course can also be presented face to face in-house or via live inhouse webinar for your company The Banking and Corporate Finance Training Specialist Course
More informationEXECUTIVE EDUCATION TRAINING VENTURE CAPITAL WORKSHOPS
EXECUTIVE EDUCATION TRAINING VENTURE CAPITAL WORKSHOPS Programme Overview The Private Equity and Venture Capital Executive Education training programmes are two workshops, each held over two-days. Both
More informationADVANCED FINANCIAL, Evaluation and Budgeting. H.H. Sheik Sultan Tower (0) Floor Corniche Street Abu Dhabi U.A.E
ADVANCED FINANCIAL, Evaluation and Budgeting H.H. Sheik Sultan Tower (0) Floor Corniche Street Abu Dhabi U.A.E www.ictd.ae ictd@ictd.ae Course Introduction: For any organization to be successful it needs
More informationNegotiating the ISDA Master Agreement
Negotiating the ISDA Master Agreement Mastering an ISDA Master Agreement This course is presented in London on: 12 February 2019, 24 September 2019 If you have 5 or more participants, it may be cost effective
More informationIBP Exam Topics Table of Contents
Table of Contents Accounting...2 Income statement...2 Balance sheet...2 Cash flow statement...2 Financial statement analysis...3 Financial reporting...3 Advanced Accounting...3 Excel...3 PowerPoint...3
More informationRepresentations & Warranties Insurance. Gallagher Management Liability Practice
Representations & Warranties Insurance Gallagher Management Liability Practice JULY 2017 Representations & Warranties (Reps & Warranties) insurance is designed to provide insurance coverage for breaches
More informationThe Global Consulting Mergers & Acquisitions
The Global Consulting Mergers & Acquisitions Report 2014 2014 G R O W I N G & R E A L I S I N G E Q U I T Y V A L U E I N C O N S U LT I N G F I R M S Covering Europe, North America, South America, Africa
More informationFixed Income Portfolio Asset Allocation This course can also be presented in-house for your company or via live on-line webinar
Fixed Income Portfolio Asset Allocation This course can also be presented in-house for your company or via live on-line webinar The Banking and Corporate Finance Training Specialist Course Objectives Participants
More informationFinancial Statement and Financial Analysis
Financial Statement and Financial Analysis A 3 Day Course This in-house course can also be presented face to face in-house for your company or via live in-house webinar The Banking and Corporate Finance
More informationWarranty & Indemnity
Warranty & Indemnity W&I Insurance Warranty & Indemnity ( W&I ) Insurance covers breaches for unknown risks in representations and warranties given in the sale of a business. The policy, whether seller-side
More informationValuation, Mergers & Acquisitions
Valuation, Mergers & Acquisitions Valuations, Mergers & Acquisitions This session is eligible for 1.5 Continuing Education Hours. To earn these hours you must: Have your badge scanned in and out at the
More informationAircraft Finance: Leasing & Financial Evaluation
Aircraft Finance: Leasing & Financial Evaluation This in-house course can also be presented in-house either on your premises or via live webinar for a group of 4 or more participants. Trusted By: The Banking
More informationInvestment Management Fundamentals
Investment Management Fundamentals A Three Day Course This in-house course can also be presented face to face in-house for your company or via live in-house webinar The Banking and Corporate Finance Training
More informationValuation of Intangible Assets including. Purchase Price Allocation :74. Purchase Price Allocation
CA Ravishu Shah Valuation of Intangible Assets including Purchase Price Allocation Investment in knowledge based/intangible assets is one of the key characteristics of modern economies. Every goods including
More informationEssentials in Finance for Non-Executive Directors
Essentials in Finance for Non-Executive Directors 1-2 December 2014, London Understanding your responsibilities Academy Who we are The educational model of the Academy is that of a "Corporate University"
More informationPinsent Masons in Spain
Pinsent Masons in Spain Pinsent Masons in Spain Pinsent Masons is a sector focussed global law firm. Our strategy is to invest in geographies that connect our clients to where they want to do business.
More informationPublic Courses. Practical financial skills to get you desk ready. Frankfurt
Public Courses Practical financial skills to get you desk ready Frankfurt Contents Why AMT Training 3 About us 3 Public courses 4 Financial Modeling Fundamentals and Three Statement Modeling 6 Financial
More informationFundraising. Investment. Transactions. Exits
United Arab Emirates Amjad Ali Khan Afridi & Angell www.practicallaw.com/6-500-6174 MARKET TRENDS AND ACTIVITY 1. Please describe briefly the private equity market in your jurisdiction, in particular:
More informationCPA as M&A Advisor for the Middle Market
CPA as M&A Advisor for the Middle Market Chris Blees BiggsKofford 630 Southpointe Ct., Suite 200 Colorado Springs, CO 80906 719-579-9090 blees@biggskofford.com Today s Webinar I. New Regulatory Environment
More informationAnti Money Laundering - Financial Crime Compliance
Anti Money Laundering - Financial Crime Compliance Blockchain Technology, De-Risking And Money Laundering In the Financial Services Sector - (Banks & Non Banks) This course is presented in London on: 30-31
More informationOFFICE OF CAREER SERVICES INTERVIEWS FINANCIAL MODELING
OFFICE OF CAREER SERVICES INTERVIEWS FINANCIAL MODELING Basic valuation concepts are among the most popular technical tasks you will be asked to discuss in investment banking and other finance interviews.
More informationApplied Financial Mathmatics in Excel
Applied Financial Mathmatics in Excel This in-house course can also be presented face to face in-house for your company or via live in-house webinar The Banking and Corporate Finance Training Specialist
More informationTable of Contents Private Equity Glossary... 5
Private Equity Glossary Sales Training Team November 5, 2010 Table of Contents 01 - Private Equity Glossary... 5 Acquisition... 5 Acquisition Finance... 5 Advisory Board... 5 Alternative Assets... 5 Angel
More informationOur valuation services
VALUATION SERVICES Our valuation services FINANCIAL REPORTING VALUATION TAX VALUATION AND TRANSFER PRICING IP AND OTHER INTANGIBLE ASSETS Purchase price allocation Impairment review Share based payments
More informationFinancial modelling. Corporate Finance PRECISE. PROVEN. PERFORMANCE.
Financial Corporate Finance PRECISE. PROVEN. PERFORMANCE. Financial Working with business owners Businesses seeking capital are faced with an obligation to provide financial projections to potential stakeholders.
More informationHow Private Equities Create Value. LBOs, Expansion deals and the future of PEs - Trends
How Private Equities Create Value LBOs, Expansion deals and the future of PEs - Trends 1 Contents - Introduction to Value Creation in PEs - LBOs - Operating Leverage - Financial Leverage - Recent trends
More informationFN428 : Investment Banking. Lecture 23 : Revision class
FN428 : Investment Banking Lecture 23 : Revision class Recap : Theory of Financial Intermediary An overview of Investment Banking Investment Bank vs. Commercial Bank Which are the various divisions of
More informationEquity Markets - Company Perspective
Equity Markets - Company Perspective Equity vs. Debt Reasons for issuing stocks Public vs. private equity Private equity IPO process Stock market investors Efficiency Diversification Corporate perspective
More informationPinsent Masons in the UAE
Pinsent Masons in the UAE Pinsent Masons In the UAE Introduction Our UAE office, based in the heart of Dubai s financial district, combines local knowledge with an international experience to advise clients
More informationAUDITING BANK TREASURY AND THE ALCO
The Global Leader in Audit and Information Security Training Internal Audit AUDITING BANK TREASURY AND THE ALCO Consider techniques for managing risk while effectively managing funds WHY ATTEND THIS COURSE?
More informationSFA BUSINESS BYTES SERIES 2 BUYING OR SELLING A BUSINESS
SFA BUSINESS BYTES SERIES 2 BUYING OR SELLING A BUSINESS 1 01 MAZARS CORPORATE FINANCE JOHN BOWE 2 Date CONTENTS Introduce Mazars Corporate Finance Buying a business Clear focus on why? Financing Options
More informationWarranties, Indemnities, Guarantees, Representations Entire Agreement Clauses & Distinctions
Warranties, Indemnities, Guarantees, Representations Entire Agreement Clauses & Distinctions This course can also be presented in-house for your company or via live on-line webinar The Banking and Corporate
More informationPrivate Equity s Role in the Changing M&A and Corporate Finance Landscape Edouard C. LeFevre
Private Equity s Role in the Changing M&A and Corporate Finance Landscape Edouard C. LeFevre Edouard C. LeFevre is a partner with Foley & Lardner LLP. He is a member of the firm s Private Equity & Venture
More informationIncreasing Shareholder Value Through Transaction Preparation
Increasing Shareholder Value Through Transaction Preparation PRESENTED BY: CHRIS DALTON, NATIONAL TRANSACTION SERVICES LEADER & KEN HIRSCH, MANAGING DIRECTOR, BKD CORPORATE FINANCE TO RECEIVE CPE CREDIT
More informationReal Estate Investment, Valuation and Financing
Real Estate Investment, Valuation and Financing 2-Day Executive Education Training Programme London: 27 th 28 th September 2017 To Register visit www.ascentium-associates.com/schedule or call +44 207 193
More informationCorporate Valuation. By Edward Bodmer. Finance Energy Institute pg. 1
Corporate Valuation By Edward Bodmer Finance Energy Institute www.financeenergyinstitutue.com pg. 1 INTERMEDIATE CORPORATE VALUATION MODELLING WITH EXCEL Target Audience The target audience is anyone who
More informationPrivate Equity Guide for Businesses
December 2017 Private Equity Guide for Businesses PRIVATE EQUITY GUIDE FOR BUSINESS OWNERS IN ETHIOPIA Private Equity (PE) is fast becoming an important source of finance for small and medium sized businesses
More informationIntroduction to Letters of Credit 1-Day This course can also be presented in-house for your company or via live on-line webinar
Introduction to Letters of Credit 1-Day This course can also be presented in-house for your company or via live on-line webinar The Banking and Corporate Finance Training Specialist Course Objectives Participants
More informationOne of the major applications of Equity Valuation is the Private companies valuation. Private companies valuation can be applied:
One of the major applications of Equity Valuation is the Private companies valuation. Private companies valuation can be applied: To value a Start up operations of Public companies. To estimate a value
More informationAdvanced Company Analysis Valuation & Financial Modelling. 5-9 March 2017 Manama, Bahrain. euromoneylearningsolutions.
Advanced Company Analysis Valuation & Financial Modelling 5-9 March 2017 Manama, Bahrain euromoneylearningsolutions.com/learnmore Advanced Company Analysis Valuation & Financial Modelling Accelerate your
More informationAdvanced Interest Rate Derivatives This course can also be presented in-house for your company or via live on-line webinar
Advanced Interest Rate Derivatives This course can also be presented in-house for your company or via live on-line webinar The Banking and Corporate Finance Training Specialist Course Objectives The broad
More informationCORPORATE VALUATION METHODOLOGIES
CORPORATE VALUATION METHODOLOGIES What is the business worth? Although a simple question, determining the value of any business in today s economy requires a sophisticated understanding of financial analysis
More informationFinancing ESOP Transactions- Lenders Perspective
Financing ESOP Transactions- Lenders Perspective 2015 California/Western States Chapter Conference Denver, Colorado September 24, 2015 Kurt Mair SVP and Western Regional ESOP Director Wells Fargo & Co.
More informationPublic Courses. Practical financial skills to get you desk ready. London - Core Skills
Public Courses Practical financial skills to get you desk ready London - Core Skills Contents Why AMT Training 3 About us 3 Public Courses 4 Accounting Fundamentals, The Income Statement and Working Capital
More informationLesson 10 THE MERGERS AND ACQUISITION MARKET. AN OVERVIEW. INTRODUCTION TO COMPANY S VALUE AND VALUATION TECHNIQUES. DCF AND COMPARABLES
Lesson 10 THE MERGERS AND ACQUISITION MARKET. AN OVERVIEW. INTRODUCTION TO COMPANY S VALUE AND VALUATION TECHNIQUES. DCF AND COMPARABLES Internal growth vs. External growth Internal growth investments
More informationIMPORTANT INFORMATION: This study guide contains important information about your module.
217 University of South Africa All rights reserved Printed and published by the University of South Africa Muckleneuk, Pretoria INV371/1/218 758224 IMPORTANT INFORMATION: This study guide contains important
More information