Niveau d'étude
Bac +5
Composante
Institut d'Administration des Entreprises (IAE)
Description
Course overview
This lecture is an introduction to the main principles of LBO financing. The financial, legal and fiscal aspects are described as well as some recent examples. A case study is done after the presentation of the theoretical aspects.
Reading newspapers, articles and books complement the content.
Heures d'enseignement
- TDTD2h
- CMCM10h
Programme détaillé
1. Business Quiz on corporate valuation, financial engineering and consolidation
2. Introduction to Private Equity
3. The leverage effect in corporate finance
4. General principles of LBOs in PE investment
5. How structuring a LBO by a PE fund ? A Case study form CACIB
6. Exercises and applications
Compétences visées
Savoir constuire un LBO et identifier ses risques
Bibliographie
« Investment Banking Valuation, Leveraged Buyouts and Mergers & Acquisitions » Joshua Rosenbaum, Joshua Pearl, 2015, Wiley, 2nd Edition, 422 p. ,
« Leveraged Buyout : A practical Guide to Investment Banking and Private Equity » Paul Pignatoro, 2016, Wiley, 1st edition, 356 p.
« Introduction to Private Equity: Venture, Growth, LBO and Turn-Around Capital » Cyril Demaria, 2016, Wiley, 2nd edition, 408 p.