Marcos Dussoni, Regional CFO at Sodexo - Acquisitions in complex markets: taking the process beyond the immediate challenges towards growth and resilience
Similar to Marcos Dussoni, Regional CFO at Sodexo - Acquisitions in complex markets: taking the process beyond the immediate challenges towards growth and resilience
Similar to Marcos Dussoni, Regional CFO at Sodexo - Acquisitions in complex markets: taking the process beyond the immediate challenges towards growth and resilience (20)
Marcos Dussoni, Regional CFO at Sodexo - Acquisitions in complex markets: taking the process beyond the immediate challenges towards growth and resilience
2. Core Process – M&A
Strategy
Management
Positioning
Strategic Planning
Target Selection
Justification
Transaction
Management
Structuring the deal
Project Management
Due Diligent
Valuation
Negotiation
Integration
Management
Integration Concept
Start the integration
From first day
Manage the
Integration
Process
3. Strategy Management
Companies should consider pursuing targets that add
value medium term while providing long-term
positional advantages.
Markets are not homogeneous, think strategically.
Selectiveness – less is more most of the time..
Consider other different types of models such as JV etc.
4. Transaction Management
Emerging marketing are still emerging. So, transaction
structuring is hard to be immune of risks:
In Brazil is impossible to avoid liabilities.
In China need structural protections other than
contract terms.
Be patient and move judiciously, emerging markets
could be treacherous due to unstable political
environments, unreliable legal systems and very
different account systems.
5. Transaction Management (risks)
Market
Local governances & practices
Unpredictable regulatory & political environment
Unclear title of seller assets
Valuation challenges
Financial
Quality of financial information
Inadequate reporting of liability
Tax-driven accounting
Ever-changing tax regimes
6. Operational
Lack of infrastructure and substantive controls
Employment of family members
My advice:
Hope for the best, prepare for the worst
Transaction Management (risks)
7. Set sail with a compass and experienced crew.
Understand the ownership structure (in buy side
transaction) you are dealing with.
Identify and bridge cultural gaps.
You have to have a business model that can
withstand a volatile business environment.
Integration Management