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Corporate Finance

M&A is regarded as strategic weapon, providing a corporate gaining competitive advantages and quick access to the market. Most M&A transactions are looking to maximize shareholder value and create synergies; however, the transaction process involves different stakeholders; furthermore, the deal practice varies a lot by region. We provide a comprehensive range of corporate finance services to companies, financial investors and lenders to help them achieve their ambitions and enhance shareholder value. We have full access to PwC's industry, accounting, financial, tax and legal specialists, and offer integrated solutions based on extensive industry and market knowledge. We support companies through every stage of a transaction and provide creative solutions for disposals, fund raising, and M&A deals, as well as project finance & deal structuring. We are well-known in the marketplace for our skill in assisting with and executing all types of financial transactions.

The services we provide include:

Mergers & Acquisitions Advisory

When organic growth does not satisfy the needs of your shareholders, or you would like to dispose of non-core business or assets, PwC can help you achieve your goals strategically. Our corporate finance experts can assist you access new markets, assets, technologies, personnel, intellectual property and sources of finance. We can also assist you to restructure the asset base of your business by disposing of underperforming assets or non-core parts of the business.

We are recognized as the leading M&A adviser in Taiwan by number and value of deals. We provide a full range of M&A and financial advisory services across all industry sectors, from acquisitions to raising finance. Wherever you are in the world, we are able to deploy local teams at short notice - teams that combine our deep industry expertise with local knowledge to focus on your deal.

 

If this is your situation

  • You are looking for opportunities, wherever they may arise, to generate value by acquiring or merging with a business that offers a good fit.
  • You need to dispose of an asset or division as part of a restructuring or a change in strategic direction.
  • Your industry is consolidating due to globalization and competition, and you are looking for businesses that can offer you a good strategic fit.
  • You are involved in the private equity industry and you need to execute a deal quickly and efficiently.

 

PwC can help you

  • Our global network in combination with our deep industry expertise means that we are in constant touch with the markets and can spot opportunities and assemble teams to execute a deal as the need arises.
  • We help acquirers evaluate targets, improve their M&A process and set post-close priorities. Our due diligence processes assess how a company generates cash and performs on non-financial measures. It also identifies possible risks or potential issues in foreign operations and evidence of operational weakness.
  • We help sellers to identify appropriate buyers, maintain control and realize greater value by finding weaknesses before buyers do, and working with management to address them, thus unlocking the value of the business to be sold, generating the best price and speeding the sales process.

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Advice on Fundraising

There is no shortage of options for businesses wishing to raise funds, but selecting the optimal structure is challenging. Raising finance to fund expansion plans requires to examine a wide range of issues and to answer a complex set of questions. The international capital market is a challenging environment and selecting the right place and structure requires considerable insight and experience.

PwC has extensive experience advising businesses on their fund-raising plans in all markets. Whether through a public or private market, through equity or debt instruments, our experience covers all possible scenarios and our independence means that we focus solely on identifying and structuring the best source of finance for our client.

Our global reach means that we can tap local understanding of markets wherever needed, and can help clients to negotiate the challenges that may otherwise derail the unprepared. Our network of contacts and deep relationships with countless sources of finance place us in the best position to make sure our clients get financing that fits their purposes and meets their goals.

If this is your situation

  • You are looking to gain effective access to capital markets to raise funds for expansion.
  • You are looking to select the most suitable form of financing from the complex financing options available.
  • Your business needs to access the public/private markets via a share or rights issue.

PwC can help you

  • Our services are designed to help companies align their strategy with their financing requirements. We can advise on which is the most appropriate market and instrument to meet both their short-term and longer-term plans.
  • We can act as financial advisor to companies planning various capital raising and capital reorganization exercises, including: Reorganization of corporate holdings, Initial Public Offerings (IPOs), rights issues and open offers of shares and/or warrants, issues of convertible debt or other quasi-equity, private placements of shares, debt or quasi-equity.
  • We can also act as financial advisor to unlisted companies seeking to raise pre-IPO development capital and can project manage the restructuring of corporate holdings ahead of an application for listing.

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Project Finance

Funding for infrastructure projects is a complex area, and there are specific challenges involved in creating the appropriate financing structures to manage risks effectively. As an independent adviser, we have advised clients on PPPs and have specialist knowledge of deals in many sectors including transport, education, sewerage, waste and real estate development etc.

  • Project finance requires multidisciplinary teams. Economists, engineers, accountants and finance specialist all need to work together to ensure that a project achieves its funding objectives.
  • The long-term nature of project funding dictates specialist knowledge of the many different institutions, both local and international that offer financing in this sector.

If this is your situation

  • You are looking to participate in a Public Private Partnership (PPP), hotel or amusement park operation, etc., whether you are from the private sector bidding for a government led project, or from the public sector aiming to create an effective partnership.

PwC can help you

  • PwC has extensive experience of working with both governments and private sector bidders.
  • We help the public sector develop the right approach to procurement.
  • We help private sector partners to get the best out of the process.

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Bid Support & Bid Defense

Life in the public markets can be tough, sometimes requiring robust tactics to either make or defend a hostile bid.

  • For both bidders and defenders, a hostile bid requires a thorough review of the vulnerabilities of a particular business. The bidder as well as the defender will come under intense scrutiny during the bidding process.
  • The scrutiny will focus particular attention on the management teams on both sides. They have to ensure that they position themselves well in the eyes of the market during the bid.
  • Companies are advised to rely on those with experience in making hostile bids, mounting a robust defense and ensuring that the optimal outcome is achieved for shareholders.

If this is your situation

  • You are concerned about your vulnerability to a hostile bid because your sector is experiencing a periodic downturn, there is a problem with management succession or there has been criticism of the company's performance from the market.
  • You are looking to acquire a public target in the coming months.

PwC can help you

  • For companies making hostile public bids, we prepare reviews of the bidder's own business and analysis of the vulnerability of the target.
  • For companies defending a hostile public bid, we work from the moment a hostile bid is announced to help defend against it or achieve the best price for your company. We help company management position themselves favourably to the markets during the bid.
  • We assist in developing the arguments on value, supporting your proposition and helping to strengthen your position - both in the market and with shareholders.
  • We provide due diligence analysis to validate the financial, commercial, operational and strategic assumptions underpinning the deal.

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Private equity advisory

 

 

Privatisation has become a truly global process which varies significantly from country to country. The real test for the privatisation professionals is to take account of both international best practice and local cultural and economic conditions.

  • We have an unrivalled global reach combined with our knowledge in working with governments to advise on shaping their policy, developing frameworks and helping them to implement privatisations, industry by industry
  • We reconcile investors' need for profit with the requirements of government for political and financial transparency.
  • As an independent adviser, we engineer a truly competitive bidding process. And when advising private sector bidders, we help them to enter new markets and develop structures that allow them to compete internationally and access local and international funds.

If this is your situation

  • You are a government aiming to achieve high credibility on the outcome of transactions and restructuring.
  • You are a corporation looking to enter a new market with the right proposal and at the lowest risk for the business.

How PwC can help

  • We help our clients from strategy to transactions and beyond.
  • We bring an in-depth professional experience and an impeccable track record of achievements.
  • We have experienced and worked in many different environments.
  • We have acted on more privatisations than any other financial adviser, from steel and heavy manufacturing to utilities, public transport, health and education services.

 

 

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Privatization Advice

To execute deals quickly, private equity businesses need immediate access to experienced resources, but their lean business models mean that they need to work with professional advisers who have a deep understanding of their aims and strategies.

  • Private equity houses are involved in a wide range of transactions, from management buyouts of a division of a public company through to large scale leveraged buyouts of large listed businesses.
  • Private equity funds are constantly in search of the right opportunities, and these are increasingly international. Cross-border capability is essential for successful deal-making.
  • We work closely with many clients in private equity helping them to make acquisitions and advising them on their investment exits.
  • Our global reach means that we can provide resources on the ground wherever they are required. The breadth and depth of our relationships allow us to spot opportunities for private equity investment.
  • We are one of the leading European private equity advisers with strong relationships with all major equity houses.

If this is your situation

  • You are a private equity house looking for the right investment for your funds.
  • Your management team is looking for advice on investing in /gaining ownership of your company.
  • You are a management buy-in candidate looking for investment opportunity.

How PwC can help

  • We are one of the leading private equity advisers and have strong relationships with all the major private equity houses.
  • We have the industry knowledge and the global capability to advise on all aspects of private equity transactions from deal origination, through structuring to exit planning and execution.
  • As part of one of the largest professional services organisations in the world, we can call on world class knowledge from the whole range of services necessary to complete a deal, from taxation advice to regulatory compliance.

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Contact us

Peter Yu

Deals Leader

Tel: +886 2 27296666, x26157

Jason Liu

Managing Director

Tel: +886 2 27296666, x25239

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