Corporate finance – Open MRTD http://openmrtd.org/ Tue, 22 Nov 2022 22:10:38 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://openmrtd.org/wp-content/uploads/2022/01/icon-2022-01-31T171458.103-150x150.png Corporate finance – Open MRTD http://openmrtd.org/ 32 32 BRG Appoints Mark Laber to Lead Corporate Finance Team in New York https://openmrtd.org/brg-appoints-mark-laber-to-lead-corporate-finance-team-in-new-york/ Thu, 17 Nov 2022 11:04:55 +0000 https://openmrtd.org/brg-appoints-mark-laber-to-lead-corporate-finance-team-in-new-york/ Berkeley Research Group (BRG) has named Mark Laber to lead its corporate finance practice in New York. In his new role, Laber will oversee a team of 50 corporate finance professionals who provide turnaround and restructuring advisory, transaction advisory, CFO solutions, interim management and valuation, among other areas. New York’s corporate finance practice grew by […]]]>

Berkeley Research Group (BRG) has named Mark Laber to lead its corporate finance practice in New York.

In his new role, Laber will oversee a team of 50 corporate finance professionals who provide turnaround and restructuring advisory, transaction advisory, CFO solutions, interim management and valuation, among other areas.

New York’s corporate finance practice grew by more than 50% in the past year and now represents more than a quarter of BRG’s corporate finance professionals.

Laber, who joined the consultancy last year as managing director, will also serve as general manager of the New York office, which has 125 people.

Laber has two decades of consulting experience, with a focus on restructuring advice. Since joining BRG, Laber has led major restructurings in the healthcare, consumer, business services, cryptocurrency and energy sectors.

Previously, he spent thirteen years with FTI Consulting, most recently as a senior managing director in the turnaround and restructuring practice. He also spent a year as COO of FTI’s North American corporate finance and restructuring practice.

Laber began his career at PwC US, where he worked in the audit practice as well as the Transaction Services Accounting and Valuation Advisory Group.

He holds a bachelor’s degree in accounting from Villanova University and is a certified public accountant, financial analyst, and turnaround professional.

“We are delighted to have Mark take on this role. It speaks to the success he has had in his career to date and also to our ambitions in the New York market, as well as more broadly, that the energy and ambition will help us achieve,” said Bob Duffy, managing director and co-head of BRG’s corporate finance practice.

Tri MacDonald, CEO and President of BRG, added, “New York is one of the most important markets for our company, and Mark is a strong representation of the next generation of BRG leaders. Not only is he accomplished in his area of ​​practice, but the energy and ideas he brings to the development of our firm more broadly are inspiring and important in propelling our next phase of growth.”

BRG is headquartered in Emeryville, California, and has more than 1,200 professionals in offices located in the Americas, EMEA, and Asia Pacific regions. The firm provides advisory services in corporate finance, litigation and investigations, performance improvement and consulting.

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Aidan Heavey joins RBK as Director of Corporate Finance https://openmrtd.org/aidan-heavey-joins-rbk-as-director-of-corporate-finance/ Fri, 11 Nov 2022 12:38:42 +0000 https://openmrtd.org/aidan-heavey-joins-rbk-as-director-of-corporate-finance/ RBK Chartered Accountants named the former Digicel executive Aidan Heave as the company’s chief financial officer. For 14 years, Heavey held several finance positions at Digicelincluding M&A group leader working in the Caribbean, Central America and South Pacific, identifying potential acquisitions as well as new licensing opportunities and business initiatives in the areas of mobile, […]]]>

RBK Chartered Accountants named the former Digicel executive Aidan Heave as the company’s chief financial officer.

For 14 years, Heavey held several finance positions at Digicelincluding M&A group leader working in the Caribbean, Central America and South Pacific, identifying potential acquisitions as well as new licensing opportunities and business initiatives in the areas of mobile, cable and broadband within the Digicel group.

Since returning to Ireland in 2016, Heavey has worked on a number of corporate finance projects spanning a wide range of industries, from e-learning, digital media, packaging, telecommunications, real estate, fintech and technology.

“I am thrilled to join a highly experienced and energetic team at RBK,” said Heavey, Chartered Accountant. “I see huge opportunities to both support the company’s existing clients and also to bring RBK’s unique blend of skills, personalities and capabilities to a wider corporate base in the Dublin area. “

RBK is Ireland’s largest independent accountancy firm, with offices in Dublin, Athlone and Roscommon. The firm has 18 partners and 220 employees.

Managing Partner RBK Joe Cleary commented: “This appointment reflects the continued growth of the business in the Dublin market and demonstrates our commitment to providing excellent customer service by investing in and developing talented people.

“Aidan brings 25 years of practice and industry experience to this position across all disciplines of corporate finance, including mergers and acquisitions, fundraising, transaction support and due diligence. He will lead the RBK service offering from our Dublin office.

Pictured: Aidan Heavyy (right) with RBK financial partner Chris Ball

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Julius Stinauer appointed new Head of Investor Relations & Corporate Finance at DEMIRE https://openmrtd.org/julius-stinauer-appointed-new-head-of-investor-relations-corporate-finance-at-demire/ Fri, 11 Nov 2022 06:32:02 +0000 https://openmrtd.org/julius-stinauer-appointed-new-head-of-investor-relations-corporate-finance-at-demire/ EQS-News: DEMIRE Deutsche Mittelstand Real Estate AG / Keyword(s): Real Estate Julius Stinauer appointed new Head of Investor Relations & Corporate Finance at DEMIRE 11.11.2022 / 07:30 CET/CESTThe issuer is solely responsible for the content of this announcement. Julius Stinauer appointed new Head of Investor Relations & Corporate Finance at DEMIRE Langen, Germany, November 11, […]]]>

EQS-News: DEMIRE Deutsche Mittelstand Real Estate AG / Keyword(s): Real Estate

Julius Stinauer appointed new Head of Investor Relations & Corporate Finance at DEMIRE

11.11.2022 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

Julius Stinauer appointed new Head of Investor Relations & Corporate Finance at DEMIRE

Langen, Germany, November 11, 2022. Julius Stinauer has been appointed Head of Investor Relations & Corporate Finance at DEMIRE Deutsche Mittelstand Real Estate AG (ISIN: DE000A0XFSF0). The 42-year-old finance professional will report directly to Chief Financial Officer Tim Brückner.

Julius Stinauer joins DEMIRE from the alstria REIT-AG office where, as team leader for investor relations and public relations, he was responsible for positioning in the capital markets and managing relationships with multiple stakeholders. His professional career also includes extensive financial experience, including as an equity research analyst at Hauck & Aufhäuser Privatbankiers (now Hauck Aufhäuser Lampe Privatbank) and as Associate Director for Valuation and Transaction Advisory at JLL. He holds a master’s degree in real estate management from the Technical University of Berlin as well as a master’s equivalent (Engineer-Diploma) in urban planning from the Technical University of Hamburg.

“Julius Stinauer brings the right mix of capital market and real estate expertise,” says CFO Tim Brückner. “He has the ideal qualifications to further develop our capital markets communications, including in relation to our ESG activities.”

*****

„About DEMIRE Deutsche Mittelstand Real Estate AG

DEMIRE – REALIZING THE POTENTIAL

DEMIRE Deutsche Mittelstand Real Estate AG acquires and owns commercial real estate in mid-sized cities and promising locations bordering metropolitan areas across Germany. The Company’s particular strength lies in realizing the potential of properties in these locations while focusing on a range of properties that appeal to both regional and international tenants. As of June 30, 2022, DEMIRE’s portfolio includes 64 assets with a rental area totaling approximately 1 million m². Including the Cielo building acquired proportionally in Frankfurt/Main, the market value amounts to approximately 1.7 billion euros.

The portfolio’s focus on office properties with a mix of retail, hotel and logistics properties results in a risk/return structure suited to the retail real estate segment. The Company values ​​long-term contracts with creditworthy tenants and the realization of the properties’ potential. DEMIRE foresees the continuation of stable and sustainable rental income as well as a solid appreciation in value.

DEMIRE Deutsche Mittelstand Real Estate AG shares are listed on the regulated market (Prime Standard segment) of the Frankfurt Stock Exchange.

Contact:
Julius Stinauer
Head of Investor Relations & Corporate Finance
DEMIRE Deutsche Mittelstand Real Estate AG
+49 6103 372 4944
Estinauer@demire.ag

11.11.2022 CET/CEST Broadcast of a Corporate News, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

EQS distribution services include regulatory announcements, financial/corporate news and press releases.
Archives on www.eqs-news.com

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Corporate finance advisory firm Shaw & Co appoints new M&A executive https://openmrtd.org/corporate-finance-advisory-firm-shaw-co-appoints-new-ma-executive/ Mon, 24 Oct 2022 07:00:00 +0000 https://openmrtd.org/corporate-finance-advisory-firm-shaw-co-appoints-new-ma-executive/ Shaw & Co.the Bristol-based corporate finance consultancy has appointed Marcus Harrison as head of its mergers and acquisitions division. Marcus joins the firm from Saffery Champness LLP, one of the UK’s oldest accountancy firms, where he was an auditor responsible for SME audits across a range of industries, business valuations and assignments non-audit assurance, including […]]]>

Shaw & Co.the Bristol-based corporate finance consultancy has appointed Marcus Harrison as head of its mergers and acquisitions division.

Marcus joins the firm from Saffery Champness LLP, one of the UK’s oldest accountancy firms, where he was an auditor responsible for SME audits across a range of industries, business valuations and assignments non-audit assurance, including independent reviews of charities and the Solicitors Regulatory Authority. compliance reviews.

With over four years of financial services experience, Marcus will support Shaw & Co’s M&A division, which provides expert advice on all aspects of buying and selling a business, including management buyouts, management buyouts, mergers, exit strategies and business valuations. The division worked on a number of notable deals, including the sale of Pukka Herbs to Unilever, the purchase of VoucherCloud from Vodafone and its subsequent sale to Groupon, and the sale of GoProposal to Sage.

A qualified chartered accountant, with experience in financial due diligence and business sales, Marcus’ specific role will include the preparation of investment documents; reviewing and building accompanying financial models; and conduct market research to identify buyers, sellers and comparable transactions.

Rob Starr, Head of Mergers & Acquisitions at Shaw & Co, said, “Marcus is another great addition to our growing team.

“He will have a key role to play in supporting our strategy to truly transform the quality of business advisory services offered to SME owners across the UK looking to buy, sell or finance the growth of their business.”

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Kroll enhances its corporate finance offering for boards and private equity sponsors by expanding its Duff & Phelps Opinions team in London https://openmrtd.org/kroll-enhances-its-corporate-finance-offering-for-boards-and-private-equity-sponsors-by-expanding-its-duff-phelps-opinions-team-in-london/ Fri, 21 Oct 2022 10:47:12 +0000 https://openmrtd.org/kroll-enhances-its-corporate-finance-offering-for-boards-and-private-equity-sponsors-by-expanding-its-duff-phelps-opinions-team-in-london/ Kroll, the leading independent provider of global risk and financial advisory solutions, has accelerated the growth of its fairness opinion capabilities by expanding its Duff & Phelps Opinions practice in London. This development builds on Kroll’s European growth and strengthens its position as the world’s leading provider of fairness opinions. In January 2022, the company […]]]>

Kroll, the leading independent provider of global risk and financial advisory solutions, has accelerated the growth of its fairness opinion capabilities by expanding its Duff & Phelps Opinions practice in London. This development builds on Kroll’s European growth and strengthens its position as the world’s leading provider of fairness opinions. In January 2022, the company announced the completion of its transition to a unified Kroll brand.

The expansion of the Duff & Phelps Opinions team in London strengthens Kroll’s services to the corporate, private equity and investment banking sectors in the UK and EMEA. The firm is led by two senior members now based in London: David Lee, from Kroll’s New York office, and Dr. Simon von Witzleben, from Kroll’s Munich office.

The Duff & Phelps Opinions team will provide equity opinions for private equity mergers, acquisitions and divestitures, financings, de-SPAC transactions and related and secondary party transactions. A key focus of the team will be to provide fairness opinions for secondary transactions conducted by GPs, given the significant growth in such transactions in recent years.

This expansion into London follows Kroll’s long-standing success in the EMEA market. The company was ranked first in the EMEA region in 2021 by Refinitiv for the total number of equity opinions rendered, totaling approximately $24 billion in transaction value.

David Lee, Managing Director of Duff & Phelps Opinions by Kroll, London, said: “This expansion into London marks a new chapter for Duff & Phelps Opinions by Kroll. We have been one of the world’s leading providers of fairness opinions for 10 years and London, one of the world’s leading financial centres, is the natural base of operations for our European practice. Our aim is to build on the success we have enjoyed across EMEA and globally, while maintaining our reputation for providing the highest quality independent advice to management, boards of directors, boards of oversight, special committees and other trustees.

Dr Simon Von Witzleben, Principal of Kroll’s Duff & Phelps Opinions practice in London, added: “As markets face a number of new macroeconomic challenges, we expect our London practice to also provide valuation advice and opinions in the context of a large-scale restructuring. operations in the years to come. In this regard, we will work closely with our colleagues in the M&A Advisory and Debt Advisory teams, expanding the range of relevant and independent advice we can offer to clients in the private equity and investment banking industry, thus creating a truly holistic service.

About Kroll

As the leading independent provider of risk and financial advisory solutions, Kroll leverages its unique knowledge, data and technology to help clients stay ahead of complex demands. Kroll’s team of more than 6,500 professionals worldwide continues the company’s nearly 100-year history of trusted expertise spanning risk, governance, transactions and valuation. Our advanced solutions and intelligence provide clients with the foresight they need to create a sustainable competitive advantage. At Kroll, our values ​​define who we are and how we work with customers and communities. Learn more at Kroll.com.

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Record first half for corporate finance company https://openmrtd.org/record-first-half-for-corporate-finance-company/ Tue, 18 Oct 2022 07:00:00 +0000 https://openmrtd.org/record-first-half-for-corporate-finance-company/ global ccompany finance solidify Clear water International, which has a base in Leeds, found registration UK results, for the first half of the financial year to September 2022. The British company advised on 24 transactions, with a Total value of over £2 billion. This doubleare the total transaction value experimented during the financial end of […]]]>

global ccompany finance solidify Clear water International, which has a base in Leeds, found registration UK results, for the first half of the financial year to September 2022.

The British company advised on 24 transactions, with a Total value of over £2 billion. This doubleare the total transaction value experimented during the financial end of semester September 2021.

The company’s Leeds-based staff moved to new offices earlier this year due to expansion and increased deal flow.

Clear water International UK CEO, Mark Taylor said: Our good start fiscal year provides us with trust Continue invest in highclass talent within our sector.

“The team continued the strong momentum of the previous year with the finalization of a variety of important transactions.

Clearwater International regularly robust results, both in the UK and internationally, are testament at our ability to unlock opportunities for our clients, taking advantage our depth industry knowledge and geographic coverage.”

Over the past six months, tThe company’s UK team advised on a number of nnotable transactions includeing:

Aadvise Littlefish Managed IT Service Provider on his investment of Bowmark Capital
deliver the sells multiutility specialist OCU Group Limited, to Triton partners

Raising borrowing facilities for hgite rental agency Sykes, to support the acquisition of
Holidays in the forest

Advice when selling provider of testing, inspection and geoengineering consulting services
CTS Group, of Palatine at Oakley Capital

The company notes its UK results benefited from 18 month of strategic investment. During eis period, the firm has Iauntyed a new division – Clearwater Growth, satisfied fasting requestgrowth entrepreneurLEDs, ownermanaged businesses.

And he ammore than doubleed the size of his M Financialmodeling and Dat Aanalytical team.

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M&A Highlights from ASIC’s Latest Corporate Finance Update https://openmrtd.org/ma-highlights-from-asics-latest-corporate-finance-update/ Mon, 17 Oct 2022 07:00:00 +0000 https://openmrtd.org/ma-highlights-from-asics-latest-corporate-finance-update/ In short The situation: The Australian Securities and Investments Commission (“ASIC”) recently released its update on corporate finance regulatory activities for the third quarter of 2022. The result: Reflecting the range of macroeconomic headwinds encountered in the first half of 2022, the ASIC update shows a significant reduction in the number and value of public […]]]>

In short

The situation: The Australian Securities and Investments Commission (“ASIC”) recently released its update on corporate finance regulatory activities for the third quarter of 2022.

The result: Reflecting the range of macroeconomic headwinds encountered in the first half of 2022, the ASIC update shows a significant reduction in the number and value of public M&A deals over the past six months. Similar to its last quarterly update, ASIC appears to identify more issues with arrangement patterns than takeover bids. Interestingly, a number of points raised, including unacceptable impediments to “fiduciary outflows” in systems, extensions of matching periods in control transactions, and unclear “material adverse change” conditions (“MAC”), no doubt indicate a desire by some bidders to “push the boundaries in terms of what is generally acceptable.

Look forward: As always, ASIC’s observations provide useful insight into what ASIC sees in the market, as well as timely reminders and practical advice for those executing public M&A deals.

Observations on Public M&A Activity Based on ASIC Reported Deal Statistics

ASIC’s public statistics on mergers and acquisitions highlighted the following:

  • There was a significant decrease in the number of M&A transactions during the six months ended June 30, 2022. Specifically, ASIC reported 36 independent review transactions, including 14 takeover bids and 22 schemes, representing a reduction of 21.7% compared to the previous half-year. , which recorded 46 independent review transactions (including 17 takeover bids and 29 schemes).
  • There has been a significant decrease in deal value, with ASIC reporting an estimated aggregate M&A deal value of A$29.95 billion for the period January to June 2022, a reduction by 53.4% ​​over the previous six-month period of A$64.28 billion.
  • ASIC’s observation was that the numbers reflect a “return to normal” after a significantly high number of trades in the prior period as well as prevailing economic conditions.

ASIC’s Top Concerns and Areas of Interest in Public M&A

Unacceptable chaining on “fiduciary outputs” in arrangement diagrams. In a change of control context, a “fiduciary withdrawal” clause allows a target board to engage with a competing bidder when required to do so pursuant to that board’s fiduciary or statutory obligations. The drafting of a “fiduciary release” generally follows standard wording, and ASIC notes that parties should be careful not to impose unacceptable hurdles in the clause that the target board is required to eliminate.

In this context, ASIC raised concerns about a recent impediment to a “fiduciary exit” in the act of implementing a scheme of arrangement. The clause required the directors of the target to “act reasonably” in making decisions necessary to rely on the trustee. The issue was resolved by the parties removing the “reasonableness” requirement from the provision.

Interestingly, ASIC noted that fiduciary clauses, which would require a target board to identify what its fiduciary and statutory requirements are and whether failure to meet these additional requirements would constitute a breach of those obligations, may also be unacceptable.

We are aware that ASIC has raised this issue on several occasions, so some bidders may be pushing the boundaries of acceptable exclusivity provisions. Needless to say, ASIC has warned that it will continue to monitor fiduciary clause fetters in plans.

Mac Terms. ASIC pointed to a recent trend in the wording of MAC conditions in control trades, where a “material adverse change” is circularly defined as a “material adverse change.”

ASIC has warned that such a condition poses a significant risk that the condition could violate Sections 602 of the Companies Act 2001 (Cth) (acquisition of control must occur in an “informed market”) and 629 (conditions dependent on bidder’s opinion not permitted) due to failure to disclose risks associated with this condition and the condition’s subjective or unclear threshold.

ASIC suggests that parties monitoring transactions should ensure that they follow established “market practices” of including objective and quantifiable standards by which parties to a transaction and their security holders can determine whether a MAC happened.

Corresponding periods in control transactions. In what can be seen as another example of some bidders pushing the boundaries of exclusivity provisions, ASIC challenged a counterparty right in a deal implementation agreement, which extended a three-business-day five business day consideration period to provide the Bidder with a second opportunity to submit an equivalent or superior proposal.

From ASIC’s perspective, the additional three working days to give the bidder a second opportunity to submit an equivalent or superior proposal was likely to be an unacceptable blocking mechanism.

ASIC referred to the oft-cited decision of the Takeover Board of Ross Human Directors Ltd. [2010] ATP 8, in which the OPA Committee considered that any substantial extension of the five business day matching deadline in implementing agreements is likely to be unacceptable due to the effect such a provision has on the willingness of a third party to propose a competing proposal. Further, the anti-competitive effect of any matching period may be exacerbated where the bidder has an existing or substantial stake in the target, which was the case in the ASIC example.

ASIC reminded the target directors that they must be satisfied with the commercial and competitive benefits for shareholders before entering into any agreement for a control transaction.

Regulatory carve-out under the terms of the public tender offer. As part of a takeover bid, ASIC has issued a reminder that potential bidders should include an exception for regulatory actions taken by ASIC and the Takeovers Panel in the terms of a takeover bid. ‘purchase. If such an exclusion is not included, the parties may need to seek a waiver to amend the terms of the offer to include one.

Specifically, ASIC’s concern is that while takeover bids typically include a “no regulatory action” condition – which requires that no regulatory action be taken by any public authority in relation to the offer, ASIC considers it common market practice that actions taken by ASIC and the tender offer committee should be excluded from such a condition. This has the effect that the condition is not triggered by any regulatory action taken by ASIC or the Takeovers Panel.

Independent expert reports…again. As reported in its June Corporate Funding Update, ASIC again observed a trade where a Disorganized the independent appraiser’s report was provided to the purchaser for comment and the appraiser’s value range was retained during a renegotiation of the offer price.

In this example, while ASIC was concerned about the appearance of undermining the independence of the expert, ASIC was ultimately satisfied that the draft report was substantially complete and that the comments had no no impact on the expert’s analysis of the transaction or its conclusion.

ASIC’s view, as set out in its Regulatory Guide 112, is that experts should only provide a complete copy of the draft report to the commissioning party for fact-checking when the expert is reasonably assured that the conclusions of the report are not likely to change.

Independent expert reports have been and continue to be a hot issue for ASIC for some time.

Four takeaway meals

  1. Some bidders seem to be pushing the boundaries of what is acceptable in terms of exclusivity clauses. ASIC monitors for unacceptable “hinders” on “fiat outflows” in schemes, as well as extended matching periods in control transactions.
  2. ASIC’s position is that MAC conditions should contain objective and quantifiable standards by which parties to a transaction (and their shareholders) can determine whether a MAC has occurred. Failure to draft such terms in this manner could violate the Corporations Act.
  3. ASIC’s view is that it is common market practice to exclude regulatory actions taken by ASIC and the take-over bid committee from the “no regulatory action” precondition commonly used in takeover bids.
  4. Independent expert reports remain on ASIC’s radar. The greatest care must be taken in sharing a draft expert report between the parties to a transaction.
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Triller Announces Prem Parameswaran Has Joined the Company as President of Corporate Finance and Investor Relations https://openmrtd.org/triller-announces-prem-parameswaran-has-joined-the-company-as-president-of-corporate-finance-and-investor-relations/ Fri, 14 Oct 2022 07:00:00 +0000 https://openmrtd.org/triller-announces-prem-parameswaran-has-joined-the-company-as-president-of-corporate-finance-and-investor-relations/ A Global Finance Executive Recently Joined Triller LOS ANGELES, October 14, 2022 /PRNewswire/ — Triller, an integrated technology and entertainment company that operates at the intersection of music, sports and lifestyle content, events and experiences, announced that Prem Paramesvaran joined the company as President of Corporate Finance and Investor Relations. Parameswaran will lead all aspects […]]]>

A Global Finance Executive Recently Joined Triller

LOS ANGELES, October 14, 2022 /PRNewswire/ — Triller, an integrated technology and entertainment company that operates at the intersection of music, sports and lifestyle content, events and experiences, announced that Prem Paramesvaran joined the company as President of Corporate Finance and Investor Relations. Parameswaran will lead all aspects of corporate finance and investor relations.

“At this pivotal time for Triller, we are thrilled to have Prem on our team,” said Mahi de Silva, CEO of Triller. “We have had the pleasure of working with Prem over the years, and his unique skills in corporate finance, mergers and acquisitions, investor relations and in-depth knowledge of institutional banking make his addition to our senior leadership a perfect fit for our growing business,” de Silva added.

Parameswaran joins Triller with over 30 years of experience in global finance. Most recently, he worked for Eros International, a leading company in the Indian motion picture entertainment industry, where he served as Chief Financial Officer and Chairman of North America. Previously, Parameswaran was Global Head of Media and Telecommunications in the Investment Banking Division of Jefferies & Company, Inc., where he advised clients on international telecommunications, media and technology.

Before that, Parameswaran was also head of media and telecommunications for the Americas at Deutsche Bank and had also worked at Goldman Sachs and Salomon Brothers. During more than two decades of investment banking, Parameswaran has executed more than 300 transactions with clients in the global media and telecommunications space, including mergers and acquisitions, privatizations, and public and private equity financings and by loan.

“Triller is at a unique inflection point as it launches its preeminent technology platform,” Parameswaran said. “I’m extremely excited to step onto the world’s largest stage for creators. My background at the intersection of technology and media provides great insight into the business opportunities that lie ahead. I am excited to begin.”

Parameswaran will be based at New York. He obtained an MBA and a BA from Colombia University and recently served on the board of directors’ nominating committee for former directors. Outside of work, he is an avid golfer and sports enthusiast. He is currently a board member of KARE Partners, a healthcare and hospital company operating in the United States and Indiaas well as the Board of the Financial Studies Program of Colombia Business School. Additionally, he recently served as a commissioner on the President’s Asian American Advisory Commission.

About Triller

Triller is the AI-powered open garden tech platform for creators. Combining music culture with sports, fashion, entertainment and influencers through a 360-degree view of content and technology, Triller encourages its influencers to post the content created on the app on different social media platforms and uses proprietary artificial intelligence technology to push and track their viral content to affiliated and unaffiliated sites and networks, enabling them to reach millions of additional users. Triller also owns VERZUZ, the live music platform; combat sports brands Triller Fight Club, Triad Combat and BKFC; Amplify.ai, a leading customer engagement platform; FITE.tv, a leading global PPV, AVOD and SVOD streaming service; Thuzio, a leader in premium B2B influencer events and experiences; Fangage, a platform for creators to engage fans and monetize content and Julius, a platform for brands and agencies to leverage creators for social engagement and social commerce.

Triller SOURCE

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Gartner Identifies Top 5 Use Cases for AI in Corporate Finance https://openmrtd.org/gartner-identifies-top-5-use-cases-for-ai-in-corporate-finance/ Thu, 13 Oct 2022 13:41:49 +0000 https://openmrtd.org/gartner-identifies-top-5-use-cases-for-ai-in-corporate-finance/ “FP&A leaders should consider the maturity and needs of their own finance organization, as applicability may vary by organization and industry,” McDonald said. “These use cases are commonly implemented and effective, but the most valuable use cases leverage a company’s unique strengths and further differentiate it.” To clarify use cases, Gartner experts have provided more […]]]>

“FP&A leaders should consider the maturity and needs of their own finance organization, as applicability may vary by organization and industry,” McDonald said. “These use cases are commonly implemented and effective, but the most valuable use cases leverage a company’s unique strengths and further differentiate it.”

To clarify use cases, Gartner experts have provided more detailed definitions.

  1. Demand/Revenue Forecast: Using internal and external data sources, the models predict demand and associated revenue across a variety of dimensions, including business unit, product line, SKU, customer type, and region.
  2. Detection of anomalies and errors: Anomaly detection uses a series of machine learning (ML) models to highlight transactions or balances that are erroneous or may violate accounting principles or policies. A complete solution will also include real-time analysis during data entry, preventing errors from entering the workflow and avoiding costly corrections downstream.
  3. Help with the decision: ML prediction algorithms designed to predict outcomes based on current data are used to predict outcomes when alternative data values ​​are used. Using models with hypothetical data predicts the outcome of alternative decisions.
  4. POC revenue forecast: Or POC accounting, ML models forecast percent complete metrics (e.g. hours, cost, units, weight, etc.) to predict POC revenue and total remaining completion effort.
  5. Cash receipts: ML models are used to predict when customers will pay bills, triggering proactive collection efforts before payments are overdue. Using predictions from these models, collections staff focus their efforts on at-risk accounts. Expected receipts also contribute to the overall ML-based cash flow forecast.

“Forecasting is a popular use case in financial services because legacy processes are manual and notoriously unreliable. AI excels at automating and improving accuracy.” “Many preconfigured software packages address common financial processes such as accounts receivable and accounts payable, but be aware that use cases that address unique business needs, such as forecasting, will require some in-house skills to develop.”

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M&A Highlights from ASIC’s Latest Corporate Finance Update – Directors and Officers https://openmrtd.org/ma-highlights-from-asics-latest-corporate-finance-update-directors-and-officers/ Thu, 13 Oct 2022 07:39:31 +0000 https://openmrtd.org/ma-highlights-from-asics-latest-corporate-finance-update-directors-and-officers/ In short The situation: The Australian Securities and Investments Commission (“ASIC”) recently released its update on corporate finance regulatory activities for the third quarter of 2022. The result: Reflecting the range of macroeconomic headwinds experienced in the first half of 2022, the ASIC update shows a significant reduction in the number and value of public […]]]>

In short

The situation: The Australian Securities and Investments Commission (“ASIC”) recently released its update on corporate finance regulatory activities for the third quarter of 2022.

The result: Reflecting the range of macroeconomic headwinds experienced in the first half of 2022, the ASIC update shows a significant reduction in the number and value of public M&A deals during the most recent six-month period. recent. Similar to its last quarterly update, ASIC appears to be identifying more issues with arrangement patterns than takeover bids. Interestingly, a number of points raised, including unacceptable impediments to “fiduciary outflows” in systems, extensions of matching periods in control transactions, and unclear “material adverse change” conditions (“MAC”), no doubt indicate a desire by some bidders to “push the boundaries in terms of what is generally acceptable.

Look forward: As always, ASIC’s observations provide useful insight into what ASIC sees in the market, as well as timely reminders and practical advice for those executing public M&A deals.

Observations on Public M&A Activity Based on ASIC Reported Deal Statistics

ASIC’s public statistics on mergers and acquisitions highlighted the following:

  • There was a significant decrease in the number of M&A transactions during the six months ended June 30, 2022. Specifically, ASIC reported 36 independent review transactions, including 14 takeover bids and 22 schemes, representing a reduction of 21.7% compared to the previous half-year. , which recorded 46 independent review transactions (including 17 takeover bids and 29 schemes).

  • There has been a significant decrease in deal value, with ASIC reporting an estimated aggregate M&A deal value of A$29.95 billion for the period January to June 2022, a reduction by 53.4% ​​over the previous six-month period of A$64.28 billion.

  • ASIC’s observation was that the numbers reflect a “return to normal” after a significantly high number of trades in the prior period as well as prevailing economic conditions.

ASIC’s Top Concerns and Areas of Interest in Public M&A

Unacceptable chaining on “fiduciary outputs” in arrangement diagrams. In a change of control context, a “fiduciary withdrawal” clause allows a target board to engage with a competing bidder when required to do so pursuant to that board’s fiduciary or statutory obligations. The drafting of a “fiduciary release” generally follows standard wording, and ASIC notes that parties should be careful not to impose unacceptable hurdles in the clause that the target board is required to eliminate.

In this context, ASIC raised concerns about a recent impediment to a “fiduciary exit” in the act of implementing a scheme of arrangement. The clause required the directors of the target to “act reasonably” in making decisions necessary to rely on the trustee. The issue was resolved by the parties removing the “reasonableness” requirement from the provision.

Interestingly, ASIC noted that fiduciary clauses, which would require a target board to identify what its fiduciary and statutory requirements are and whether failure to meet these additional requirements would constitute a breach of those obligations, may also be unacceptable.

We are aware that ASIC has raised this issue on several occasions, so some bidders may be pushing the boundaries of acceptable exclusivity provisions. Needless to say, ASIC has warned that it will continue to monitor fiduciary clause fetters in plans.

Mac Terms. ASIC pointed to a recent trend in the wording of MAC conditions in control trades, where a “material adverse change” is circularly defined as a “material adverse change.”

ASIC has warned that such a condition poses a significant risk that the condition could violate Sections 602 of the Companies Act 2001 (Cth) (acquisition of control must occur in an “informed market”) and 629 (conditions dependent on bidder’s opinion not permitted) due to failure to disclose risks associated with this condition and the condition’s subjective or unclear threshold.

ASIC suggests that parties monitoring transactions should ensure that they follow established “market practices” of including objective and quantifiable standards by which parties to a transaction and their security holders can determine whether a MAC happened.

Corresponding periods in control transactions. In what can be seen as another example of some bidders pushing the boundaries of exclusivity provisions, ASIC challenged a counterparty right in a deal implementation agreement, which extended a three-business-day five business day consideration period to provide the Bidder with a second opportunity to submit an equivalent or superior proposal.

From ASIC’s perspective, the additional three working days to give the bidder a second opportunity to submit an equivalent or superior proposal was likely to be an unacceptable blocking mechanism.

ASIC referred to the oft-cited decision of the Takeover Board of
Ross Human Directors Ltd. [2010] ATP 8, in which the OPA Committee considered that any substantial extension of the five business day matching deadline in implementing agreements is likely to be unacceptable due to the effect such a provision has on the willingness of a third party to propose a competing proposal. Further, the anti-competitive effect of any matching period may be exacerbated where the bidder has an existing or substantial stake in the target, which was the case in the ASIC example.

ASIC reminded the target directors that they must be satisfied with the commercial and competitive benefits for shareholders before entering into any agreement for a control transaction.

Regulatory carve-out under the terms of the public tender offer. As part of a takeover bid, ASIC has issued a reminder that potential bidders should include an exception for regulatory actions taken by ASIC and the Takeovers Panel in the terms of a takeover bid. ‘purchase. If such an exclusion is not included, the parties may need to seek a waiver to amend the terms of the offer to include one.

Specifically, ASIC’s concern is that while takeover bids typically include a “no regulatory action” condition – which requires that no regulatory action be taken by any public authority in relation to the offer, ASIC considers it common market practice that actions taken by ASIC and the tender offer committee should be excluded from such a condition. This has the effect that the condition is not triggered by any regulatory action taken by ASIC or the Takeovers Panel.

Independent expert reports…again. As reported in its June Corporate Funding Update, ASIC again observed a trade where a Disorganized the independent appraiser’s report was provided to the purchaser for comment and the appraiser’s value range was retained during a renegotiation of the offer price.

In this example, while ASIC was concerned about the appearance of undermining the independence of the expert, ASIC was ultimately satisfied that the draft report was substantially complete and that the comments had no no impact on the expert’s analysis of the transaction or its conclusion.

ASIC’s view, as set out in its Regulatory Guide 112, is that experts should only provide a complete copy of the draft report to the commissioning party for fact-checking when the expert is reasonably assured that the conclusions of the report are not likely to change.

Independent expert reports have been and continue to be a hot issue for ASIC for some time.

Four takeaway meals

  1. Some bidders seem to be pushing the boundaries of what is acceptable in terms of exclusivity clauses. ASIC monitors for unacceptable “hinders” on “fiat outflows” in schemes, as well as extended matching periods in control transactions.

  2. ASIC’s position is that MAC conditions should contain objective and quantifiable standards by which parties to a transaction (and their shareholders) can determine whether a MAC has occurred. Failure to draft such terms in this manner could violate the Corporations Act.

  3. ASIC’s view is that it is common market practice to exclude regulatory actions taken by ASIC and the take-over bid committee from the “no regulatory action” precondition commonly used in takeover bids.

  4. Independent expert reports remain on ASIC’s radar. The greatest care must be taken in sharing a draft expert report between the parties to a transaction.

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.

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