Finance and Accounting Seminars

Corporate & Financial Restructuring



Introduction

Just because a company needs restructuring -- financial or operational -- 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; either 1) Financial restructuring or 2) 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 through case studies, examples and Excel® models as well as discussions of alternatives.Main ideas explored include:

  • What is restructuring & what are the alternatives
  • When & why should you restructure vs. not
  • How to calculate the “real” value of a firm both before & after a restructuring
  • What is Leverage; when to use it and how best to finance it
  • When to divest an operating unit & how to do it to optimize the remaining value

 

Objectives

On completion of this module delegates will be able to:

  • Fully understand the various form of restructuring
  • Discuss the real difference between Corporate & Financial restructuring
  • Know when to acquire vs. divest an operating unit
  • How to value an entity or an entire firm
  • Know when to Leverage vs. Deleverage
  • Learn to use a range of Excel models (provided)

 

Training Methodology

The training comprises teaching sessions covering each topic area with the theory blended with practical application. Additionally, real world examples & case studies will be used so that the Delegates will be able to apply these techniques immediately. Delegates then use the provided Excel® templates to apply their new knowledge case studies to reinforce the concepts.

 

Organizational Impact

The organization will benefit by:

  • Having Experts in-house to develop advanced decision support models
  • Higher productivity of personnel involved in restructuring analysis
  • Improved performance of corporate & financial restructuring methods
  • Better ways to plan & measure results of decisions
  • Realizing better options when facing divestiture choices
  • Better integration between functional areas leading to better decisions

Personal Impact

The delegate will benefit by:

  • Developing an improved understanding of the risks & benefits of corporate & financial restructuring in today’s challenging world.
  • Really understanding the risks & rewards of leverage
  • Being able to calculate the value of the firm in the real world
  • Understanding to cost/benefit of a divesture
  • Enhancing their knowledge with the use of the models in the case studies
  • Significantly increasing their Excel® analysis skills

SEMINAR OUTLINE 

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
  • Case study
  • Excel model for decision

 

The Why & How of Restructuring

  • The Why & How of it
  • Why companies really 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
  • Example
  • Case study
  • Excel model for decision

 

Valuation in Restructuring

  • Valuation
  • Which approach to use to be 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
  • Case study
  • Excel model for decision

 

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]
  • Case study
  • Excel model for decision

 

Divestitures

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

UAE (Dubai)

From 16/2/2020 To 27/2/2020 Price: 3750$
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From 13/9/2020 To 24/9/2020 Price: 3750$

Egypt (Cairo)

From 8/3/2020 To 19/3/2020 Price: 3750$
From 23/8/2020 To 3/9/2020 Price: 3750$
From 15/11/2020 To 26/11/2020 Price: 3750$

Morocco (Casablanca)

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From 24/5/2020 To 4/6/2020 Price: 3750$

Jordan (Amman)

From 19/4/2020 To 30/4/2020 Price: 3750$

UK (London)

From 3/2/2020 To 14/2/2020 Price: 6750$
From 24/8/2020 To 4/9/2020 Price: 6750$

Egypt (Sharm El-Sheikh)

From 22/12/2019 To 2/1/2020 Price: 3750$
From 21/6/2020 To 2/7/2020 Price: 3750$
From 13/9/2020 To 24/9/2020 Price: 3750$

Malaysia (Kuala Lumpur)

From 19/4/2020 To 30/4/2020 Price: 4500$
From 30/8/2020 To 10/9/2020 Price: 4500$
From 1/11/2020 To 12/11/2020 Price: 4500$

Turkey (Istanbul)

From 15/3/2020 To 26/3/2020 Price: 4250$
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France (Paris)

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Switzerland (Geneva)

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Spain (Barcelona)

From 6/4/2020 To 17/4/2020 Price: 6750$
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Italy (Rome)

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Manama (Bahrain)

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Oman(Muscat)

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Kuwait (Kuwait)

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Spain (madrid)

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Singapore (Singapore)

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USA (Boston)

From 5/1/2020 To 16/1/2020 Price: 7250$

Netherlands (Amsterdam)

From 18/5/2020 To 29/5/2020 Price: 6750$
From 28/9/2020 To 9/10/2020 Price: 6750$

Germany (Munich)

From 14/9/2020 To 25/9/2020 Price: 6750$

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