Mergers
Our transaction methodology ensures that client issues, risk areas and deal breakers such as integration issues are identified as early on as possible to enable deal success and the subsequent delivery of shareholder value.
PREVI can provide a wide range of assistance, including:
carrying out an initial assessment of the viability of a proposed merger, by evaluating past and future performance, generally on a confidential basis by using information in the public domain. We rapidly build up a picture of the financial and commercial position of the two businesses, and compare them, highlighting the most critical issues both to the transaction and to the future of the merged business (see pre-due evaluation);
identifying and delivering synergies, by helping to compile synergy plans to maximise value creation, helping to quantify the plans and deliver the synergies post-transaction. This enables clients to maximise planned synergies and benefits, which are vital to the success of a transaction and the achievement of shareholder value (see integration);
preparing/Reviewing financial models, by assisting with modelling the businesses before and after the proposed merger, creating and running the key management tool required for the merger process. We also carry out formal reviews of financial models and provide comfort on their workings;
minimising tax leakage and maximising distributable reserves, identifying tax efficient structures to minimise international and local tax, maximising structural synergies by dealing with location of debt and profits, and resolving key residual tax issues (see transaction structuring);
assisting with multi-jurisdictional reporting requirements, global mergers may involve listing and financial reporting in more than one country. Financial reporting requirements need to be met in all relevant locations;
assisting with integrating the merged
businesses, by managing project implementation through the first 100 days after closing and thereafter; and managing the change process(see integration).

Fusioni
L’ esperienza acquisita nell’assistere clienti nel corso del processo di fusione assicura che le aree di rischio ed eventuali deal breakers, siano identificati nella fase iniziale della fusione così da facilitare il successo del progetto.
L’assistenza comprende normalmente i seguenti servizi:
valutare le performance passate e future delle società oggetto di fusione, generalmente su base confidenziale, utilizzando informazioni di pubblico dominio e redigere un quadro complessivo della situazione finanziaria e commerciale delle stesse identificando gli aspetti critici;
identificare possibili sinergie, al fine di massimizzare la creazione di valore;
preparare o analizzare criticamente modelli finanziari di business plan;
ridurre al minimo gli oneri fiscali derivanti dalla fusione e massimizzare le efficienze fiscali;
assistenza nel predisporre i prospetti informativi richiesti dai mercati finanziari, infatti fusioni sia cross-border sia domestiche possono richiedere la stesura di prospetti informativi diretti ai mercati finanziari;
assistenza nei primi 100 giorni dopo la fusione nell’implementare le business plan della nuova entità.

Disposals
Many corporates selling businesses do not appreciate the resources and processes necessary to ensure that the disposal runs smoothly and that their best interests are protected. We provide a package of services to assist with disposals (see vendor assistance) including:
interfacing with purchasers and their accounting advisors on accounting matters and challenging the due diligence findings of purchasers to assist with dealing with enquiries from bidders;
assisting with the organisation of the financial information sections of the data room to ensure internal consistency and consistency with any information already supplied to the vendor;
providing independent due diligence commissioned by the vendor and made available to prospective purchasers to facilitate and accelerate the disposal process (see transaction structuring);
advising on the deal structure with respect to tax opportunities (see transaction structuring); reviewing and advising on draft sale agreements with respect to warranties and indemnities and advising on the accounting principles and mechanics of the closing accounts process

Cessioni
Spesso non si considera con sufficiente attenzione l’importanza del processo e delle risorse necessarie ad assicurare che una dismissione di business si svolga senza complicazioni,  massimizzando i ritorni per il venditore.
I nostri servizi a supporto di cessioni includono:
 

gestire i rapporti con gli acquirenti e con i loro consulenti, in particolar modo sulle problematiche contabili e fiscali e nel corso della due diligence degli acquirenti;
preparare e gestire la data-room; svolgere una Vendor due diligence;
determinare la struttura ottimale di cessione al fine di sfruttare eventuali opportunità fiscali;
assistere nella preparazione del prospetto informativo per i mercati finanziari;
assistere nella predisposizione del contratto di cessione in particolar modo per quanto riguarda le garanzie contabili e le clausole di rettifica del prezzo.