Business Valuation and Extraordinary Operations

The course is designed to provide a theoretical and operational framework for business valuation processes, which are examined in light of the most important types of extraordinary operations (acquisitions, transfers, mergers, demergers, contributions etc.). The ultimate goal is to illustrate the most common valuation methods used in the financial community, with a view to facilitating a critical approach to their use, also taking into account the specific objectives of each valuation and the peculiarities of each method. Particular attention will be given to the methods for estimating economic value and acquisition value in the context of company groups, banks, insurance firms, or other financial institutes. The course aims to provide students with a sound knowledge of valuation principles and techniques, to be used to determine the value of businesses, blocks of shares, intangible assets and individual company investments. This is done with a view to fostering specific skills for future professionals and managers who, in different roles, will have to perform valuations within financial and industrial groups, private equity funds, banks, consulting firms, or as freelance consultants.

By the end of the course, students should be able to: decide on the type of valuation process to implement on a case-by case-basis; design the main stages of the extraordinary operation in question; identify the specific risks resulting from their valuation; choose the most suitable valuation method in each case; prepare a valuation report in line with the objectives of the valuation.