Acquisition, Investments and Divestments (Introductory) Masterclass

Brickstone Project Sponsors Masterclass Training

Acquisition, Investments and Divestments (Introductory) Masterclass

This Divestment, Investment and Acquisition Training (Introductory Course) would help participants (mainly project sponsors) to develop skills necessary to structure a deal or form an opinion about any proposed transaction involving the Acquisitions, Divestments and Investment for any business enterprise. Topics in this Investment and Acquisition Training (Introductory Course) include value creation in mergers and acquisition; choice of payment method; valuation of private companies; deal due-diligence; incentive effects of deal financing. 
Masterclass Objectives

This Divestment, Investment and Acquisition Training (Introductory Course) will look at enhancing financial and commercial analysis of any typical Acquisition, Investments and Divestment. There will be a focus on connecting the dots between legal & financial due-diligence and how this is driving successful transactions.It also explains the how the skills of a Transaction Adviser helps sponsors to navigate the process.

In this introductory course participants will get an overview of the major aspects of the mergers and acquisitions (M&A) industry. Particpants would discover the theories and concepts that underpin Acquisitions, Investments and Divestments, and learn the skills involved in executing transactions, from a deal’s inception to closure and integration

Programme Overview
  • A Two (2)-day training covering the full life cycle of the Acquisitions, Investments and Divestments developments
  • Framed by the Nigeria context of current Corporate Law and sector development of capital markets
  • Consists of lectures, hands-on group exercises, computer modeling, and video case studies.
  • Expand Your Knowledge – Understand how different financial tools enable the many innovative transaction analysis
Who Can Participate?

The Divestment, Investment and Acquisition Training (Masterclass) is focused more on Sponsors and Project Owners as detailed below

  • Start-up Entrepreneurs involved in the process of Acquisition and Investments in various sectors
  • Heads of Family Managed Enterprises,Directors and Strategic Decision makers in Corporations
  • Mid to Senior level corporate executives in Public Sector dealing with strategic acquisition and divestment  issues
  • Academics and students who are looking out for strategic insights into the practical aspects of M&A transactions
Content Outline
Day One

1. Growth and Value Creation

  • Explain value creation through growth and industry consolidation.
  • Discuss why companies need to take strategic decisions such as acquisitions, divestments and investments.
  • Marco Economic Realities
  • Identify common seller and buyer motivations;

2. The Setting for Acquisitions; Divestments and Investment

  • Identify the key players in Strategic Transactions and explain the rationale on the decision to Buy or Sell;
  • Highlight the buyers and sellers preparation for the deal

3. Due-Dilligence

  • Explain why Mergers and Acquisitions Fail;
  • Show the importance of Legal Due Dilligence
  • Key DD Elements to look out for

4. Valuation Approaches & Fundamentals

  • Highlight the process of determining the Universe of buyers;
  • Explain using the Invested Capital Model to define the investment being appraised;
  • Highlight the Financial Statement Adjustments to look out for in M&A’s;
  • Discuss how to manage investment risks in Merger & Acquisitions.
Day Two

5. Income Approach: Using Rates and Returns to Establish Value

  • Explain why Values for Merger and Acquisitions should be driven by the income Approach;
  • Establish defendable long term growth rates

6. Cost of Capital Essentials & WACC

  • Discuss cost of capital essentials such as the Cost of Debt Capital;
  • Cost of Preferred Stock and Cost of Common Stock;
  • Explain the fundamentals and limitations of the Capital Asset Pricing Model;
  • Highlight the use of Modified Capital Pricing Model;
  • Explain how to develop an Equity Cost for a Target Company.
  • Highlight Common Errors in computing Weighted Average Cost of Capital Formula

7. Asset & Market Approach: Using Guideline Companies and Strategic Transactions

  • Explain the M&A Transactional Data Method; Guideline Public company method;
  • Show approach in selection of Valuation Multiples;
  • Highlight Market Multiples Commonly Used;
  • Compare Book Value vs. Market Value;
  • Explain the Premises of Value;
  • Explain the Use of the Asset Approach to Value Lack of Control Interest;
  • Discuss the treatment of Non-operating Assets Surpluses or Shortages

8. Adjusting Value through Premiums and Discounts

  • Highlight the Applicability of Premiums and Discounts as well as the use discretion in the size of the adjustment;
  • Discuss “Control” versus “Lack of Control” in Income- Driven methods;
  • Explain the meaning of “Fair Market Value” vs. “Investment Value”

9. Workshop on Risk Assessment & Strategy

Discussion Panel on discussion of Transaction risks how to deal with them. Key risks include credit, market, interest, infrastructure, engineering, liquidity, supply, currency, political and environmental. Guest Speakers to be invited to share their knowledge

Facilitator

The Facilitators are leading specialist in Mergers and Acquisition transactions having vast commercial and financial advisory experience range from negotiations to sourcing, developing, closing and delivering equity, project/ corporate finance and other contractual structures across major transactions within Nigeria and Sub-Saharan Africa.

Masterclass Locations, 2018–2019

Abuja
Lagos
Accra

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