: Mercury Training Center
: Istanbul-Turkey: +905395991206 - Amman-Jordan: +962785666966 - London (UK): +447481362802

Finance and Accounting Courses

Corporate Financial Restructuring


Introduction:

When a company needs restructuring - financial or operational - it does not mean it will do so. An erosion of Stakeholder value may occur for a variety of reasons, including Management interference. This program shows you how to do things right.

Corporate restructuring is defined as any fundamental change in a company's business or financial structure, designed to increase the company's value. Corporate restructuring is often divided into two parts: Financial restructuring or Operational restructuring. This seminar emphasizes the practical side of corporate restructuring in today’s ever-challenging world. It focuses on the two objectives of the practical application

Targeted Groups:

  • Top Management of the Corporates
  • Finance Managers
  • Finance Professionals
  • Operations Professionals
  • Persons who want to gain new knowledge and experience to improve their career

Course Objectives:

At the end of this course the participants will be able to:

  • Understand the various form of restructuring
  • Discuss the real difference between Corporate & Financial restructuring
  • Recognize when to acquire VS divest an operating unit
  • Learn how to value an entity or an entire firm
  • Know when to Leverage vs. Deleverage
  • Understand the risks & benefits of corporate & financial restructuring in today’s challenging world.
  • Understand the risks & rewards of leverage
  • Calculate the value of the firm in the real world
  • Understand the cost/benefit of a divesture
  • Enhance their knowledge with the use of the models
  • Significantly increasing their Excel® analysis skills

Targeted Competencies:

  • Knowledge about Acquiring
  • Financial Restructuring
  • Excel analysis skills

Course Content:

Unit 1: Introduction to Restructuring:

  • Introduction to restructuring
  • The Restructuring Framework
  • Proactive – planning the restructure before it is needed
  • Defensive - planning the restructure because it is needed
  • Distress - planning the restructure when the is no choice
  • Restructuring parties
  • Creditors – what do they expect
  • Shareholders– what do they hope for
  • Employees– what do they wish for

Unit 2: The Why & How of Restructuring:

  • The Why & How of it
  • Why companies restructure
  • How do companies successfully restructure in today’s world
  • When is the right time to restructure
  • The coordination and implementation of it all
  • The checklist for success
  • The “as is” value - what is the firm worth today
  • What is the product/service mix to decide what to keep and what to divest
  • Strategic partner or merger – the difference brings what value
  • Leverage – yes or no; pros & cons

Unit 3: Valuation in Restructuring:

  • Valuation
  • Which approach to use to be the most accurate
  • Liquidation value
  • Fire sale
  • Orderly
  • Asset-based methods
  • Comparables – market-driven
  • Free cash flows
  • Free cash flow to the firm
  • Free cash flow to equity
  • Option-based

Unit 4: Leverage:

  • Leveraging and deleveraging
  • Leverage – yes or no; pros & cons
  • Establishing required rates of return
  • Adjusting the costs of debt and equity for leverage
  • Leverage optimization through capital structure (Example)
  • Bond buybacks (Example)
  • Leveraged Buy-Out (LBO)
  • Going private – the costs vs. the benefits
  • The rationale for high leverage
  • Calculating your capacity for debt
  • Excel model for decision

Unit 5: Divestitures:

  • Why divest a business unit
  • The rationale for divestiture vs. alternatives
  • Divestiture vs. a spin-off
  • Equity carve-outs
  • Voluntary liquidations
  • Excel model for decision


Egypt (Cairo)
5/12/2021 - 9/12/2021
Euro 2500
Turkey (Istanbul)
26/12/2021 - 30/12/2021
Euro 3000
Spain (Barcelona)
3/1/2022 - 7/1/2022
Euro 4500
Oman(Muscat)
23/1/2022 - 27/1/2022
Euro 2500
Malaysia (Kuala Lumpur)
30/1/2022 - 3/2/2022
Euro 3500
Turkey (Istanbul)
30/1/2022 - 3/2/2022
Euro 3000
Kuwait (Kuwait)
6/2/2022 - 10/2/2022
Euro 2500
Germany (Munich)
7/2/2022 - 11/2/2022
Euro 4500
Online
13/2/2022 - 17/2/2022
Euro 1250
Italy (Rome)
21/2/2022 - 25/2/2022
Euro 4500
France (Paris)
28/2/2022 - 4/3/2022
Euro 4500
UAE (Dubai)
6/3/2022 - 10/3/2022
Euro 3700
Egypt (Cairo)
13/3/2022 - 17/3/2022
Euro 2500
UK (London)
11/4/2022 - 15/4/2022
Euro 4500
Switzerland (Geneva)
18/4/2022 - 22/4/2022
Euro 4500
Netherlands (Amsterdam)
18/4/2022 - 22/4/2022
Euro 4500
Online
24/4/2022 - 28/4/2022
Euro 1250
Spain (madrid)
25/4/2022 - 29/4/2022
Euro 4500
Egypt (Cairo)
8/5/2022 - 12/5/2022
Euro 2500
Turkey (Istanbul)
22/5/2022 - 26/5/2022
Euro 3000
Manama (Bahrain)
29/5/2022 - 2/6/2022
Euro 2500
UAE (Dubai)
5/6/2022 - 9/6/2022
Euro 3700
Egypt (Sharm El-Sheikh)
5/6/2022 - 9/6/2022
Euro 2500
UK (London)
6/6/2022 - 10/6/2022
Euro 4500
Jordan (Amman)
12/6/2022 - 16/6/2022
Euro 2500
Spain (Marbella)
13/6/2022 - 17/6/2022
Euro 4500
Greece (Athens)
27/6/2022 - 1/7/2022
Euro 4500
Online
10/7/2022 - 14/7/2022
Euro 1250
USA (Boston)
18/7/2022 - 22/7/2022
Euro 5000
Jordan (Amman)
24/7/2022 - 28/7/2022
Euro 2500
Spain (madrid)
1/8/2022 - 5/8/2022
Euro 4500
Morocco (Casablanca)
8/8/2022 - 12/8/2022
Euro 2500
France (Paris)
8/8/2022 - 12/8/2022
Euro 4500
Spain (Barcelona)
15/8/2022 - 19/8/2022
Euro 4500
Italy (Rome)
15/8/2022 - 19/8/2022
Euro 4500
Turkey (Istanbul)
21/8/2022 - 25/8/2022
Euro 3000
UAE (Dubai)
28/8/2022 - 1/9/2022
Euro 3700
Malaysia (Kuala Lumpur)
28/8/2022 - 1/9/2022
Euro 3500
Ukraine (Kyiv)
29/8/2022 - 2/9/2022
Euro 3500
Netherlands (Amsterdam)
5/9/2022 - 9/9/2022
Euro 4500
Spain (Barcelona)
12/9/2022 - 16/9/2022
Euro 4500
Egypt (Cairo)
18/9/2022 - 22/9/2022
Euro 2500
Canada (Toronto)
19/9/2022 - 23/9/2022
Euro 5000
Egypt (Sharm El-Sheikh)
25/9/2022 - 29/9/2022
Euro 2500
Egypt (Cairo)
16/10/2022 - 20/10/2022
Euro 2500
Singapore (Singapore)
17/10/2022 - 21/10/2022
Euro 4500
Manama (Bahrain)
30/10/2022 - 3/11/2022
Euro 2500
Malaysia (Kuala Lumpur)
6/11/2022 - 10/11/2022
Euro 3500
UAE (Dubai)
13/11/2022 - 17/11/2022
Euro 3700
Online
13/11/2022 - 17/11/2022
Euro 1250
Turkey (Istanbul)
20/11/2022 - 24/11/2022
Euro 3000
UK (London)
28/11/2022 - 2/12/2022
Euro 4500