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THE PRICE IS RIGHT: A look at valuation issues arising in acquisitions, Beijing, Apr. 15th
THE PRICE IS RIGHT: A look at valuation issues arising in acquisitions, Beijing, Apr. 15th
Research on M&A operations suggests that more than 50% of M&A operations do not create value. Some failures are due to post-M&A problems but many do arise due to valuation issues: the price was “not right”. The aim of this presentation is to look at the practice of Private Equity funds and financial investors and the factors that influence valuations: how to make the price “right”.
Investors do look at more than just projections (income approach). Other important aspects to bear in mind when doing a M&A operation include information from listed companies: similar deals do matter but other aspects can modify value greatly such as non-core assets, off-balance sheet items, contract terms in the Sales and Purchase Agreement.
We shall look at these issues from a practical point of view by analysing several cases of PE funds investments in target companies in China: what were the issues and analysis of the practical solutions to these.
The seminar will be presented by Mr. Francois Magni, Associate Director of Deloitte Beijing, and Ms. Hui Cao, Senior Associate of Steptoe & Johnson LLP Beijing Office.
Cancellation Policy: You are liable for 100% of the registration fee in case your cancellation is received less than 24 hours before the event. Your registration implies acceptance of these General Conditions of Sale.
RSVP:
Reservation must be made by email (info@cameraitacina.com) until 13th April 2011. Registration fee to be paid at the entrance.
Invitation:
The China-Italy Chamber of Commerce, the Benelux Chamber of Commerce, the European Chamber of Commerce, the Spanish Chamber of Commerce and the Singapore Chamber of Commerce are glad to invite you to attend a seminar about the valuation issues arising in acquisitions.