A | PMI
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Mastering the process : Successful Clean Teams manage all deal challenges and interaction points
AT A GLANCE KEY TRANSACTIONAL ACTIVITIES IN PMI & CARVE-OUT PROCESS
Given that most M & A transactions are highly complex and timecritical , three factors are essential to a successful Clean Team deployment :
Strategy Transaction Transition Transformation
Target screening
Target
Valuation and deal support
Signing Closing ( Day1 )
100 days Target state
Timing of deployment Firms often turn to Clean Teams too late . A timely deployment in the early stages of the transaction ensures the full impact of a Clean Team . |
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Integration strategy
Integration roadmap
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Joint activity of Clean Team and integration teams
Organizational & functional implementation
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Fast-paced Clean Team working mode Clean Teams must immediately start with expert sessions , site visits and data analysis . Commitment from involved parties to provide necessary resources is essential .
Smooth interface management Clean Teams face multiple stakeholder interaction points , requiring smooth interface management during the transaction .
BB | CARVE-OUT [ 1 ]
Acquisition
Clean Team
Merger control process
Form CO [ 2 ] Form RM [ 3 ]
Clearance [ 4 ]
Merger control team Carve-out design summary and clearance concept
Buyer screening
Further external advisors
Transaction support
Corporate Finance
Carve-out of remedies
Carve-out execution
Target state
[ 1 ] Based on the EUC process [ 2 ] Form CO is the notification form required for launching a merger review [ 3 ] Form RM lays down CARVE-OUT concepts of critical remedies to regulators [ 4 ] Clearance depends on proposed / demanded carve-out structure e . g . “ fix-it-first ” vs . “ upfront buyer ” Source : goetzpartners