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Training Course Summary:

In response to difficult market conditions and continued pressure from institutional investors, corporate restructuring seeks to maximise shareholder value through the re-arrangement of the equity ownership of parent companies and their subsidiaries. The processes described in this course allow a company to release cash, revert to core competencies, improve profits and, where appropriate, to enhance a stock market following. The increased market acceptance of restructuring as a valuable alternative to the extremes of full control or complete divestiture provides management with a number of sophisticated tools to meet their overall strategic objectives. This course maps out the purpose and mechanics of the various options available from preliminary considerations to successful conclusion.

Training Course Overview/Content:

Background
Historical overview
Forces driving the market
What is restructuring
When and why does it happen

Preliminary considerations
Rationale
Assets or shares
Pre-sale hive-downs
Financial assistance
Strategic assessment

Equity restructuring
Sell-offs
Spin-offs, split-offs & split ups
Carve-outs & spin-outs
Tracking stock
Reduction of capital
Equity buy backs

Demerger mechanics
Available Tax reliefs
Direct dividend method
Triangular structure
Statutory demergers
Schemes of reconstruction
Substantial shareholders exemption
S. 110 liquidation schemes
S. 425 schemes of arrangement

Changing direction
Joint ventures
MBO structures
Public-to-private deals