Private Equity Exits

A Practical Analysis, Second Edition

David Walker (Herausgeber)

Buch | Hardcover

218 Seiten

2016 | 2nd edition
Globe Law and Business Ltd (Verlag)
978-1-911078-09-8 (ISBN)

Infos

Exits are the lifeblood of private equity: for private equity investors, at the top of their list of priorities when making an investment is an understanding of when and how they will realise it in due course. The methods of exiting private equity investments have developed over the years, and particularly in the more challenging economic environment of recent times.

To the usual trade sales and initial public offerings (IPOs) have been added secondary, tertiary (and more) buy-outs, refinancings, partial sales, private equity house spin-outs and liquidations. In these uncertain times, private equity houses will continue to put a significant focus on what options might be available to them to realise their portfolio investments, being mindful of not just the economic risks, but also the legal, tax, regulatory and reputational issues at stake. Management teams are key to this process and their economic, commercial and personal priorities cannot be underestimated in what is a very complex environment of often conflicting aspirations.

This practical guide features contributions by leading specialists (including from Latham & Watkins, Linklaters, Macfarlanes and Ropes and Gray) on a range of topics linked to the exit of private equity investments. Topics featured include preparing for exits, vendor diligence, management issues, auction sales, partial exits, private equity house spin-outs, IPOs, refinancing, winding-up, tax and perspectives from Luxembourg, the US and views on the emerging markets.

Together, the contributors provide an invaluable guide to the legal, regulatory, tax and practical elements in play. Whether you are a lawyer in practice or in-house, this commercially focused new title will provide you with an invaluable all-round overview of private equity exits.

Inhalt

Introduction 5
David Walker
Latham & Watkins

Preparing for exit 7
Philip Sanderson
Ropes & Gray

Vendor diligence 19
Stephen Drewitt
Macfarlanes LLP

Management issues 27
Emma Danks
Taylor Wessing LLP

Auction sales 37
Tim Wright
DLA Piper UK LLP

Partial exits 49
Neil Campbell
Tom Evans
Latham & Watkins

Private equity house spin-outs 67
Amy Mahon
Clifford Chance LLP

Private equity sponsored IPOs 81
John Lane
Alex Woodward
Linklaters

Financing issues on private equity exits 97
James Hogben
Chris McLaughlin
Weil Gotshal & Manges

Warranty and indemnity insurance 113
Richard French
Caroline Rowlands
Howden

Winding up 125
Philip Hertz
John MacLennan
Gabrielle Ruiz
Clifford Chance LLP

Tax issues 147
Stephen Brown
Sean Finn
Latham & Watkins

Private equity exits: a Luxembourg perspective 161
Pierre Beissel
Claire Guilbert
Arendt & Medernach

US private equity exits – key differences from UK practice 183
Timothy Dawe
Howard A Sobel
Latham & Watkins

Emerging markets exits 195
Kem Ihenacho
Linzi Mutter
Latham & Watkins

About the authors 203

Index 209

Produkt-Details

• Erscheinungsdatum: 12.05.2017
• Verlagsort: London
• Sprache: englisch
• Maße: 160 x 240 mm
• Gewicht: 520 g
• Themenwelt: Recht / Steuern ► EU / Internationales Recht
• Themenwelt: Recht / Steuern ► Wirtschaftsrecht ► Bank- und Kapitalmarktrecht
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• ISBN-10: 1-911078-09-7 / 1911078097
• ISBN-13: 978-1-911078-09-8 / 9781911078098
• Zustand: Neuware