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By François MASQUELIER, CEO of Simply Treasury – Luxembourg
No one could contest that there are an increasing number of carve outs and spin offs, with groups refocusing on core businesses. Private Equity investors have revolutionized the MA business and have specific objectives, often with a precise goal of an IPO in the very near future. The aim of a carve-out operation is that the business that is being separated will rapidly need a fully functional, standalone, and professional treasury organization upon decoupling. Therefore, it means setting up a dedicated skilled team, processes, IT systems, cash-pooling, liquidity structure, own bank accounts or/and standalone financing arrangements. The key issue is “timing”, as usually they must implement a...
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