The trainer of the corporate finance masterclass has 15 years of experience in accounting and investment banking at leading firms and is an experienced financial trainer who has delivered courses for financial institutions in the City of London and around the world, in the areas of Corporate Finance, Valuation (Industrials and Banks), Financial Modelling, M&A, LBO, Financial Accounting, Capital Markets, Bank Regulatory Capital, Financial Risks, both in English and French.
Case study I – T-Mobile USA divestiture to AT&T
Case study II – Citigroup listing of Primerica
Case study III – ITT three-way spin-off in Exelis, Xylem and “old” ITT
Case study IV – Kraft split-off of post cereals business
Case study V – Mead Johnson separation from Bristol-Myers Squibb as a two-step process: equity carve-out followed by split-off
The training will discuss the main divestiture options available to a firm as a going concern, including Initial Public Offering (IPO), spin-off, split-off and equity carve-out. The motivation, pros and cons of each structure are explained in detail in light of precedent transactions. The training also discusses financial impact including balance sheet deconsolidation and EPS accretion (dilution).