Trends in strategic and private equity M&As in Central & Eastern Europe. Presented at the mindspeaker/Eastern European Think & Act Tank conference in New York as part of a series of presentations from dignitaries from Central & Eastern Europe, regarding business opportunities in the region.
Trends in European M&As and areas of attention for successful cross-border M&As. Presented as part of the New York 2008 World Trade Week at Baruch College.
Trends in European M&As and areas of attention for successful cross-border M&As. Presented as part of the New York 2008 World Trade Week at Baruch College.
Investment Environment (M&A trends and business opportunities)in the emerging European economies of Central and Eastern Europe. Presented at the NYU/Stern Business School Global Business Conference in February 2010.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
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Investment Environment (M&A trends and business opportunities)in the emerging European economies of Central and Eastern Europe. Presented at the NYU/Stern Business School Global Business Conference in February 2010.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
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BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
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how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the telegram contact of my personal vendor.
@Pi_vendor_247
#pi network #pi coins #legit #passive income
#US
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
2. Topics
Global M&A activity
M&A trends in Europe
M&A and Private Equity activity in CEE
CEE Private Equity Outlook
War Stories
Eastern European Think & Act Tank, Pete Chatziplis: M&As and Private Equity in CEE, Conference, 3West Club, New York, April 24, 2008 1
3. Global M&A Activity
2007 a record year for Global M&As:
– Total Global M&A Deal Value in 2007 $ 3.6 trillion ($3.7 trillion in 2006)
– North America: $ 1.58 trillion, 9% growth/ 4,950 deals
– Europe: $1.4 trillion, same as in 2006/ 6,290 deals
– Asia: $ 430 billion, 5% growth/ 2,700 deals
2007 Deal Value by Region 4,000 2007-2006 Deal Value
3,500 $440m $180
$430
3,000 $410m
*
Other, $180,
North 2,500
5% $1,400
America, $1,400m
$1,580, 44% 2,000
Asia-Pacific, 1,500
$430, 12%
1,000
$1,450m $1,580
500
Europe,
$1,400, 39% 0
2006 2007
Other includes: Latin America, Africa, Middle East. North America Europe Asia-Pacific Other
Source: Mergermarket, The Comprehenisve Review of North American Mergers & Acquisitions, Mergermarket Full Year 2007.
Eastern European Think & Act Tank, Pete Chatziplis: M&As and Private Equity in CEE, Conference, 3West Club, New York, April 24, 2008 2
4. Top 2007 Deals Globally
• RBS-Fortis-BSCH/ABN Amro €71bn Banks
• Altria Group/Kraft $61 bn Consumer
• Enel&Acciona/Endesa €48 bn Energy
• Providence,Madison,Teachers/BCE $44 bn Telecoms
• KKR,TPG,GS/TXU Corp $44 bn Energy
• Rio Tinto/Alcan €32 bn Industrials
• Unicredit/Capitalia €22 bn Financials
• KKR&Pessina/Alliance Boots €18 bn Consumer
• KKR/First Data $27 bn Business Services
• TPG,GS/Alltel $27 bn Telecoms
• Blackstone/ Hilton $25 bn Leisure
• Bank of America/LaSalle €15 bn Financials
Eastern European Think & Act Tank, Pete Chatziplis: M&As and Private Equity in CEE, Conference, 3West Club, New York, April 24, 2008 3
5. Global M&A Activity - Some Themes
Increase in valuations and cross border activities:
Record year in transatlantic deals
Average multiple reached 10x in 2007, PEs compete with corporations
Fall in activity and valuations after 2Q07
Deals take longer time
Rise of Sovereign Wealth Funds
Transatlantic Deals (Value)
Median EV/EBITDA-Global
Median Enterprise Value to EBITDA Multiple
Strategic vs. Financial Buyers - Global Deals Less than $250mm
11.0x
9.1x
8.5x
8.5x 8.2x
7.7x 7.8x 7.7x
7.4x
6.8x 7.0x
6.7x 6.5x
6.2x
6.0x
5.2x
3.9x
3.5x
1.0x
2001 2002 2003 2004 2005 2006 2007
Strategic Buyers Financial Buyers
Source: Thomson Financial Includes only posit ive mult iples less t han 25x.
Source: Deal Drivers, The Comprehensive Review of North American Mergers & Acquisitions, Mergermarket Full Year 2007, Thompson Financial.
Eastern European Think & Act Tank, Pete Chatziplis: M&As and Private Equity in CEE, Conference, 3West Club, New York, April 24, 2008 4
6. European M&A Activity
2007 close to 2006 at historical high:
– Credit crunch affected mega deals but not volume
– Main Sectors: Financial Services (29%), Energy & Mining (12%),
Industrials (12%), TMT (16%); life sciences (5%)
– Drivers: Strategic activity; cash availability in PEs; weakening US$
Deal Value - Europe Deal Value Split- Europe
Source: Mergermarket, Deal Drivers, A Comprehensive Review of European M&As, Full Year Edition 2007.
Eastern European Think & Act Tank, Pete Chatziplis: M&As and Private Equity in CEE, Conference, 3West Club, New York, April 24, 2008 5
7. European PE Activity- Slowdown
Europe: €212 bn in 1,270 deals, 20% of total activity in 2007
– Focus on middle market and turnarounds
– Cash deals / at discount
– IPO exits less often than secondary placements
US: $500 bn in buyouts in 2007; 35% of total activity;
Asia: $42 bn, 700 deals (India $10 bn, China $9.5 bn, Taiwan $5.8 bn)
PE Buyouts and Exits by Value Buyout Deals-Breakdown by Size
Source: European Private Equity in Review, Mergermarket, February 2008
Eastern European Think & Act Tank, Pete Chatziplis: M&As and Private Equity in CEE, Conference, 3West Club, New York, April 24, 2008 6
8. CEE M&A and PE Activity
Increased importance of PEs
– €150 bn, 840 M&As in 2007 (11% in value, 14% in volume)
– PE represent € 8.5 bn, 90 deals (5.5 % of total value, 10% of volume)
– Sectors: Consumer 24%, TMT 17%, Industrials 15%, Energy 11%,
Business Services 9%, Pharma 7%, Financial 5%
PE Buyouts and Exits by Volume PE Buyouts and Exits by Value
Source: European Private Equity in Review, Mergermarket, February 2008
Eastern European Think & Act Tank, Pete Chatziplis: M&As and Private Equity in CEE, Conference, 3West Club, New York, April 24, 2008 7
9. Main PE buyouts in CEE (2007)
Targets Buyers Price(€ m) Sector
• Bulgarian Telecom (BTC) AIG Capital Partners 1,080 Telecoms
• Bite Group (Baltics) MidEuropa Partners 450 Telecoms
• Lattelecom (Latvia) Blackstone 425 Telecom
• Antenna Hungaria TPG/Axa/Charterhouse 327 Telecoms
• SBB Kablovkse (Serbia) Mid Europa Partners 170 Cable TV/ISP
• Zabka Polska (Poland) Penta Investments 131 Retail
• UAB Palink (Lithuania) CVCI 113 Food retail
• Expander (Poland) Innova Capital 115 FSI
• SC Digital Cable (Romania) AIG Capital Partners 45 Video Trsm.
• Grupa Jaan/Nordglass Enterprise Investors 82 Manuf’g
• Komfort (Poland) Enterprise Investors 64 Retail
Central European Private Equity Confidence Survey, Deloitte, January 2008 and June 2007.
Eastern European Think & Act Tank, Pete Chatziplis: M&As and Private Equity in CEE, Conference, 3West Club, New York, April 24, 2008 8
10. CEE PE Activity- Fall in Confidence
Main Themes:
CEE in the focus of PEs; large
funds have specialized teams
14 funds setup in 2007: €5.4bn
raised; mainly in 1H
Confidence decreased in line with
global markets in 2ndH 2007
Private equity market activity is
expected to stay about the same
Central European Private Equity Confidence Survey, Deloitte,
Rationalization of valuations January 2008
There’s room for growth; it’s just
started….
Eastern European Think & Act Tank, Pete Chatziplis: M&As and Private Equity in CEE, Conference, 3West Club, New York, April 24, 2008 9
11. War Stories
The Case:
– Acquisition of manufacturing facilities (2002)
– Southeastern Europe
The Issues:
– Deadline (1 month)
– Translation (?)
– Inflation
– Data Quality
– Nuisances
– Deal Structuring
The Aftermath
Lessons Learned
Eastern European Think & Act Tank, Pete Chatziplis: M&As and Private Equity in CEE, Conference, 3West Club, New York, April 24, 2008 10
12. Q&A ?
Eastern European Think & Act Tank, Pete Chatziplis: M&As and Private Equity in CEE, Conference, 3West Club, New York, April 24, 2008 11