In his turn, Yuriy Boyko, the State Enterprise "Agency for development of infrastructure of the stock market in Ukraine" paid attention to the transparency and openness of a company as an effective tool for investment attraction. "Against the background of total distrust, investor, first of all pays attention on business reputation of the company as well as goodwill - intangible assets, which affect on cost of the company at market and collected for years of hard work and it is very expensive", - said Mr. Boyko.
About the International M&A market trends and their impact on transactions in Ukraine, said Vladimir Lizuniv, Director, Department of Corporate Finance, KPMG Ukraine. Thus, according to Vladimir, less than one third of M&A bargains increase the cost of business, and not detailed pre-investment research is one of the basic reasons of failures in mergers and acquisitions. Dmitriy Fedoruk, Counsel, Clifford Chance continued the analysis of recent global trends in M&A. Special attention was paid to mechanisms of "completion accounts" and "earn-outs", when in the first case – the price of bargain is subject to change after it was closed by adjusting the amount of net debt and working capital (as of the closing date), while the second - the final sale price depends on the financial performance of the company after closing.
The banks point of view about the right time for acquisitions in M&A markets in CEE/SEE, announcedAnton Janes, Managing Director Group M&A, Erste Group Bank AG.
Concerning the value of mergers and acquisitions market in Ukraine in 2011, according to Vitaliy Strukov, Managing Director, Head of Investment Banking, Concorde Capital, the market is about $ 5-6 billions and next year will stay at approximately the same level. Besides, Vitaliy noted, that Ukrainian agro companies are resistant to the crisis and in this sector over the past 10 months has been committed by the largest number of transactions.
Separate panel of the Forum was devoted to the business security, modern technologies in this sphere and issues of integration upon transaction completion. Thus, Alexander Okunev, Director, IIB Center of Corporate Management, Chairman of the Board, PACM commented the new Law of Ukraine "On Joint Stock Companies" from the point of view of potential corporate raiders and new possibilites, which it opens for hostile takeovers.
For the first time at the Forum was considered the issue of Mass-Media participation in M&A processes, and their impact on transactions. According to Vadim Denisenko, Chief Editor, Business, Social and Political Weekly "Comments", tools of struggle, first of all, with raider attacks, which successfully worked for a year or two ago, doesn’t work anymore. The Media can only be effective if the cause resonance in the society and will have an active public support in the form of mass protest.
Forum Organizers: Conference House Company. Official Partner – KPMG Ukraine. Legal Partner - Clifford Chance. Partner – Erste Bank. Strategic partner – "Comments" weekly. Official Media-Partners: Invest-gazeta, Delo. General TV-Partner – UBR, Communication partner – ESG. Educational Partner – MIB, under support of CGPA. Main news media-partner – IA "Interfax Ukraine".
More details about the Forum can be found on the Organizers’ web site www.ch.kiev.ua. Or Conference House page on Facebook.
