In the aftermath of the financial crisis, a large number of banks are closely following their profitability while questioning their business positioning, spurred by client behaviour, regulatory requirements and political voices.
In these circumstances, it can make sense to enhance economies of scale through the acquisition of selected banks, asset managers, or client portfolios. Alternatively, some banks may also decide to refocus their activities by selling one or more business lines, or client portfolios.
In these situations, it is of key importance to work with a trusted partner who masters all the different steps in the corporate finance value chain while combining local market knowledge with a global network. The Deloitte corporate finance team blends M&A skills gained in the banking industry with the culture and traditional skills of a professional services firm.
Deloitte provides companies with a broad range of services to respond to a fast and ever-changing environment:
As buy-side advisors, we will assist you in the selection of the most appropriate targets. We will approach the shareholders of the targets on your behalf and work with you towards the conclusion of an acquisition of joint-venture agreement. As sell-side advisors, we will compile an information memorandum and identify the most likely acquirers, which we will contact (initially on the basis of a teaser) following your approval. We will assist you in the whole transaction, up to the signing of the sale and purchase agreement (for a legal entity or an activity/portfolio).
In connection with a planned transaction (acquisition or joint venture), our teams will be pleased to assist you in your due diligence efforts. We typically work in close cooperation with our tax department, strategy & operations, human capital, entreprise risk services etc. to complement the accounting and financial due diligence. Thanks to our multidisciplinary service offer, Deloitte can provide the most comprehensive due diligence services in Luxembourg under a one-stop-shop approach. The same teams can also be mandated for vendor due diligences, where an independent due diligence report is compiled on behalf of a seller, in order to facilitate transactions.
We assist our clients on a regular basis on fair value matters. These cover individual asset items as well as individual legal entities. We apply discounted cash flow techniques as well as market based approaches (e.g. comparables from listed comparable companies or from recent transactions, as available).