Transactions & Corporate Finance
Advanced Corporate Finance
Carve-outs, spin-offs, PIPEs and Reverse Morris Trusts.
Overview
The complex transactions and structures that senior bankers and investors need to understand. We work through carve-outs, spin-offs, PIPEs and Reverse Morris Trusts, and how each reshapes value, ownership and the model.
Who it's for: VPs, senior associates, corporate development and investment professionals.
What you'll cover
- Carve-outs and separations: standalone economics and dis-synergies
- Spin-offs: mechanics, tax considerations and value creation
- Reverse Morris Trusts and tax-efficient combinations
- PIPEs and structured equity
- Consolidation, minority interests and complex ownership
- Modelling the structure end to end
- How each structure changes the equity story
What delegates can do afterwards
- Explain the rationale, mechanics and tax treatment of carve-outs, spin-offs, PIPEs and RMTs
- Model a separation or spin-off, including standalone economics and dis-synergies
- Assess the impact of each structure on value, ownership and control
- Engage credibly with legal, tax and counterparty advisers on structuring
Discuss a programme
Tell us who the programme is for, roughly how many delegates, and what they need to be able to do afterwards. We will come back with a proposed structure and outline.