Increased disruption, industry convergence, technological change, and the need to shift to new business models to stay competitive has meant creating value in M&A has never been more important. In addition, higher prices mean that acquisitions need to be accompanied by a robust plan for maximum value creation and return. According to a new global M&A insight report from PwC, more than half of acquirers and divestors underperform against their industry benchmark in the two years following their last deal, highlighting the undoubted difficulty of achieving significantly transformative value in dealmaking and the risk involved.
FT & PwC - Creating Value Beyond The Deal
Financial Times, and Co-Creator, FT Due Diligence
A dynamic market requires the strategic intent of deals to be clear; value creation plans must be aligned with wider company goals, complemented by comprehensive due diligence and followed through with a robust integration plan to ensure success. How can re-evaluating existing approaches to M&A, and creating a revised plan for long-term value creation, highlight new opportunities?
Hosted under the Chatham House Rule, The FT & PwC - Creating Value Beyond the Deal dinner will develop the conversation around the opportunities, and challenges for organisations re-evaluating their M&A framework in a dynamic business climate. The event is tailored for CEOs, CFOs, Directors/Heads of Corporate Development/M&A/Strategy and Private Equity representatives.
Agenda - 13th Jun
The Drawing Room
7:20pmPwC Research Presentation: Value Creation in Deals
7:35pmDinner and Discussion Commences
8:35pmPanel Discussion: Optimising deal value in an uncertain business climate
With increased disruption, industry convergence and significant technological and geopolitical change, what measures can be implemented to overcome complexity throughout the deal process, to achieve long-term, transformative value for deals?
• Aligning new deals with a review of portfolio strategy: Comparing the success of opportunistic vs strategic initiatives in generating value.
• Creating a more comprehensive due diligence model: Establishing more sophisticated assessment tools and analytics to highlight new opportunities for value creation such as reviewing tax and legal frameworks.
• Putting people at the heart of the deal: Harnessing business synergies and ensuring there is an effective communication and incentivisation strategy in place to support successful integration.
• Executing long-term strategic deals in a disruptive business climate: Ensuring growth plans and deal opportunities are ‘future-proofed’ to deliver long-term value in spite of uncertainty.
9:20pmDessert and coffee followed by drinks at the bar/carriages
Chaired By (1)
Arash Massoudi is Corporate Finance and Deals Editor at the Financial Times based in London, where he has worked since 2014. Prior to that, he was capital markets reporter in the FT's New York bureau. He is the co-creator of the FT’s premium corporate finance briefing called Due Diligence. He joined the FT in London in 2011 from the US government where he served in the Commerce department.
After having qualified as a Chartered Accountant with the Audit Firm Coopers & Lybrand, Roland llube joined the Shell Group in 1995. He started off in the Retail Business in the UK as a Management Accountant and then moved to West Africa where he was Finance Manager of Shell’s Downstream Business firstly in Gabon, then in Cote d’Ivoire. He returned to the UK in 2002 and joined the Downstream Finance Portfolio team where he spent 4 years working on a variety of acquisition and divestment projects before being seconded by Shell to the Project Financing team of an LNG Joint Venture Company. After that he moved to Lagos, Nigeria where he set up and ran the M&A and Commercial Finance team. In 2012 he came back to London to take up the role of GM Finance for the Lubricants & Commercial Fuels Business across Europe, the Middle East & Africa (EMEA). In 2015 Roland returned to the M&A and Commercial Finance team as Head of Global Downstream, based in London. He has been an executive sponsor of the Shell African Network, the employee network for people of African and Caribbean heritage, since 2012.
Gemma Wright, Managing Director at CVC, joined the company in 2013. Gemma is a member of the CVC UK team and is based in London. Prior to joining CVC, she worked for Duke Street, a mid-market, UK-focused private equity firm. Investments at CVC and Duke Street include Premiership Rugby League, Neptune Oil & Gas, Sky Betting & Gaming, Laurel Funerals, and Wagamama. Prior to this, Gemma was a Consultant at OC&C Strategy Consultants and a full-time sailor. Gemma holds an MA Degree from the University of Cambridge.
Chetan Singh is the Chief Strategy and M&A Officer at Aviva plc, with responsibility for overseeing our Group Strategy, M&A and Investor Relations activities. Chetan is part of the Aviva Leadership Team and reports to the Group CEO.
Prior to joining Aviva, Chetan was at J.P. Morgan in Asia for 6 years. In his last role he was Managing Director and Head of Southeast Asia and India Financial Institutions Group in the Global Investment Banking division. Prior to joining J.P. Morgan, Chetan spent over 10 years in investment banking covering European financial institutions in London with Citigroup.
David Isenegger is Centrica plc’s Group Head of Corporate Development, responsible for strategy, business development, M&A, market fundamentals and economics. He is also Group Chief of Staff in Centrica’s CEO’s office. He joined Centrica in 2010 as General Counsel of the Group’s commodity trading, power generation and exploration and production businesses. Prior to joining Centrica, he held senior commercial legal roles in Shell’s UK, Kazakhstan and Iran oil, gas and transportation businesses. Before Shell, he had a senior legal role with the Sasol Group, where he developed gas to liquids and chemicals projects and joint ventures in the Middle East, West Africa and Japan. He spent 2 years with the United Nations Security Council in Geneva leading a team resolving energy sector claims against Iraq from the first Gulf War. His legal career began in private practice in Calgary. He is a graduate of the University of Alberta and qualified as a lawyer in Canada and England. He served as a surface warfare officer in the Royal Canadian Navy completing his commission as a Lieutenant.
Hein Marais is a Partner at PwC and works with leading dealmakers to create maximum shareholder return through driving a relentless focus on value creation and realisation across the M&A lifecycle. Before PwC, Hein worked as a CFO in industry and as an Investment Director in Private Equity. He has over 20 years’ experience and has particular expertise is in complex global divestitures and integrations.
Organised By (2)
The Financial Times is one of the world’s leading business news organisations, recognised internationally for its authority, integrity and accuracy. The FT has a record paying readership of one million, three-quarters of which are digital subscriptions. It is part of Nikkei Inc., which provides a broad range of information, news and services for the global business community.
With offices in 158 countries and more than 250,000 people, we are among the leading professional services networks in the world. We help organisations and individuals create the value they’re looking for, by delivering quality in assurance, tax and advisory services. Some facts about PwC:
- In FY18, PwC firms provided services to 429 of the Global Fortune 500 companies and more than 100,000 entrepreneurial and private businesses.
- 64,766 people joined PwC firms around the world in FY18.
- For the year ending 30 June 2018, PwC’s gross revenues were US$41.3 billion, up 7% on the previous year.