Corporate Finance/Valuation

Valuations form the basis of key business decisions. We support shareholders, executive bodies, companies, banks and investors in all matters relating to business management and valuation. Our associates are members of the bodies that define standards for the auditing profession. As a member of the technical committee for business valuations and commerce of the Institute of Public Auditors, we play an instrumental role in setting German valuation standards.

Valuations for Tax Purposes

In the context of succession and estate planning we not only perform economically and legally sound valuations to assist with decision-making, but also offer advice on inheritance-tax and gift-tax structuring.

Valuations for Legal Purposes

The voluntary retirement or dismissal of shareholders regularly gives rise to significant valuation issues. We advise shareholders, investors and companies and act as independent experts by performing impairment tests in connection with non-cash capital increases, producing expert opinions on the appropriateness of agreements between enterprises, determining the value of the parties’ shares in the context of company conversions, and calculating severance entitlements arising from squeeze-out transactions. We also work as court-appointed auditors.

Valuations for Accounting Purposes

The significance of market and fair values in accounting has increased substantially in recent years. We assist our clients with purchase price allocations, measuring intangible assets and impairment tests in compliance with national and international principles.

Fairness Opinions

Independent experts are often engaged to assess whether far-reaching business decisions are appropriate. When producing a fairness opinion of this nature, we analyze the financial appropriateness of a purchase price or the outcome of a decision-making process from the shareholder perspective. This includes an appraisal of statements concerning public acquisition and takeover bids issued by executive bodies pursuant to Sec. 27 of the German Securities Acquisition and Takeover Act.

Assistance with Arbitration, Judicial Valuation and Court Proceedings

In judicial and extra-judicial disputes we assist our clients by reviewing or calculating business values for and in compliance with contractual agreements and applied valuation methods. In many cases we also draft the relevant contracts to prevent time-consuming and costly confrontations later on. If a dispute cannot be avoided, we can represent you both in and out of court, and perform a loss assessment.