Corporate Finance

Dramatic recent changes in capital markets, pressure on government budgets and the need to reduce or eliminate reliance on government funds and borrowing have brought financing of projects, strategic plans and large international investments to the top of senior executives’ and governments’ agendas.
  • We carry out business due diligence assessments and provide valuations using state-of-the-art techniques, emphasising competitive position, cost structure and competence, rather than past performance.

  • We act as advisers in complex transactions, privatisations and large-scale public private partnership (PPP) schemes.

  • We prepare project feasibility studies, evaluate project proposals and organise project financing.

  • We advise companies on the adequacy and appropriateness of their capital structure to support their current position and strategy.

Our key areas of expertise include:

  • Business due diligence
  • Valuation
  • Merger & acquisition support
  • Concessions (PPPs)
  • Privatisations
  • Feasibility studies, project appraisal & financing
  • Corporate restructuring & turnaround

Indicative engagements

Support in the sale of an insurance firm

For a leading player in the insurance sector, we performed business due diligence and valuation of the business, and supported negotiations for and completion of its sale to a major international insurance company.

Privatization of marina

We successfully supported the privatisation and development of a large marina, including a €44 million investment to modernise existing facilities and construct additional buildings. The marina, which specialises in accommodating mega yachts and operates according to exacting international standards, is now considered one of the best facilities in the Mediterranean and is expected to bring the Greek State overall revenues of €72 million.

Support in the preparation of best partnership

We undertook a large PPP project for the Greek government, to support the preparation and finalisation of the selection process for partners to design, construct, finance, maintain and manage school buildings. We carried out financial analysis to ensure value for money, set out the partnership form and its basic parameters and developed a risk matrix. We also adjusted existing technical, maintenance and management specifications to the needs of the PPP, determined terms and conditions of the contractual documents and supported negotiations with the private contractors.

Participation in EU-funded project for delivering natural gas to EU Member States

We carried out economic and financial analysis as part of a consortium for an EU-funded project to determine cost and evaluate feasibility of various multi-modal options for delivering natural gas from the Central Asian/Caspian region to the EU. This included assessment of the natural gas volumes available for export to Europe from the Caspian/Central Asian region, investigation of demand and import requirements of European and other markets that could be supplied by a Caspian–Black Sea gas corridor. We also described factors likely to influence European tariffs for natural gas and future tariff projections and assessed proposed delivery points and commercial options for interconnections within the European gas network. Finally, we assessed the commerciality of the venture for the operators and attractiveness of the proposed routes for producers and suppliers.

Support in the acquisition of a private equity fund

On behalf of a leading private equity fund, we carried out full business due diligence and valuation on an acquisition target (a top-three mobile operator, including its fixed and broadband business unit). We also designed a turnaround plan for the target.

Assessment of investment proposals for major Greek bank

For a major bank, we assessed investment proposals from about 3000 small- and micro-enterprises in the sectors of commerce, tourism, services and franchising. Based on our assessment, it was possible to determine which proposals merited grants from the EU-financed National Strategy Reference Framework. The total amount of the programme's grant financing was €650 million.