Consulting topics where I have relevant experience and numerous successfully completed projects.

Valuation for M&A transactions, designing position in negotiations regarding price and deal structuring

In majority of deals I took part I was at seller side. My role was in determining possible limits of price, major value drivers in negotiations and determining the best alternative to negotiated agreement (BATNA).

Efficient owner's role in management of a business

There are many typical problems in companies where ownership is distributed (while major owners still keep significant stakes) and management and ownership are separated.
How deeply owner should be involved into day-to-day management (depending on his/her goals and business strategy)? What instruments could allow harmonization of interests between owners and managers? How to determine efficient incentive scheme for managers in order to avoid inefficient spending of resources for fights for power? How to organize efficient work of the Board? What should be the procedures of adopting strategic decisions? What information should owner receive about business performance?
Result of such consulting project is a set of policies and procedures which allow to address such problems.

Deal structuring between entrepreneur (business owner) and strategic investor (private or institutional)

Deal structuring is often a difficult task. The goal is to propose such agreement which could be feasible and assure alignment of interests and based on objective market parameters. The most important issue is price but not only. The important thing is how to distribute risks and what control mechanisms should be employed. The goal of such projects is to get mutually accepltable agreement based on international practice of similar deals.

Financing strategy for a company

The goal of the project is to determine optimal strategy of financing for efficient growth of a business taking into account general business srategy and possibilities which are offered by local and international financial markets.
What is current strategy of financing and how it can be developed taking into account growth plans and competitive environment? What debt instruments are available or will be available tomorrow? What parameters of debt financing could minimize risks and create right incentives for management? To what extent alternative sources of debt financing (short- and long-term, local or foreign currency, internal or international, etc.) should be used? Should the comany prepare itself for an IPO and what time schedule should be for that move? What kind of strategic investors could be interested in asquiring stake in the company? What terms of equity financing can be reached?
A desirable result of such project is a document developed together with owners and top management which outlines financial strategy and financial policy for the next 3 - 7 years.

Examination of an investment project

It's about investment decisions which have significant scale comparing to company operations and can produce significant inpact on the future of the company. The role of consultant here is helping to take into account all relevant important factors which could influence efficiency of the project, analysis of important risks and tools to hedge it, evaluation of synergies and (real) options. The value of such project, among other things, lies in improving policies and practicies of capital budgeting in the company.

Development of investment declaration (investment prospectus) for public investment or pension fund

Macroeconomic analysis of major trends in an economy and its influence on an industry and a company

A number of clients asked me to analyze current economic conditions and major macroeconomic trends, main factors which influence macroeconomic environnent and its influence on particular industry. The result of a projet is analysis of possible scenaios and factors which could determine which scenario could happen in practice. Such projects usually appear during periods of macroeconomic instability.

Development of regulatory environment and institutional structure of financial markets in emerging economies

Each my project in this field was unique in its nature: legislation for derivatives market, introducing primary dealers system at government securities market, industry standards for evaluation of performance of public invetment funds, analysis of costs and benefits of different sources for financing government budget, etc.

News, Comments Private Equity and Venture Capital Corporate Governance and Board Effectiveness Corporate Finance, Business Valuation, M&A, Strategic Investment Decisions Economics for Top managers: Strategy and Organisational Design, International Macro Environment