PKF München

PKF Munich carve-out solutions

The carve-out strategy defines what has to be done when and how during the execution of the spin-off:

The following challenges and milestones must be successfully implemented within the framework of the carve-out:

  • Establishment of a common carve-out understanding within the (target) organization (M1)
  • Definition of the business in scope: E.g. subsidiaries, business units, cost centers, etc. (M2)
  • Quantity of countries, companies or permanent establishments in scope influences complexity of carve-out processes (legal and tax-wise) (M3)
  • Early detection of operational complexity and securement of operational performance before, during and after carve-out ("Day 1 readiness") (M4)
  • Tax-optimized structure of new corporate structures (M5)
  • Clear distinction of relevant assets and liabilities (M6)
  • Implementation of a coherent reporting system due to lack of historical financial data. This includes the provision of carve-out financials and fact books for IPO (roadshow) (M7).
  • Identification of type and scope of group interdependencies (shared services such as IT and HR) (M8)
  • If necessary, continuous coordination with the buyer (under antitrust law aspects between signing and closing) (M9)
  • Company valuation as well as purchase price determination and, if necessary, complex (re-)negotiations with the buyer (necessity of compliance solutions) (M10)
  • Achievement of planned savings and synergies (e.g. through transparency in key financial figures) (M11)
  • Where appropriate, merger support and post-merger integration (M12)
     

Learn more about our carve-out services.

Your contact person Mr. Wohldorf