La Sala de las Decisiones con Propósito
The chief executive of a fictional listed Spanish food company has just published its purpose statement and has one year to show it is real.
About this simulation
Simulacion Express de 90 minutos, 4 rondas, nivel avanzado, sobre la valoracion de empresas en la venta de una empresa familiar: los errores habituales de las valoraciones (tasa de descuento, flujos, valor terminal, deuda neta), la eleccion del metodo, la normalizacion del EBITDA, la revision de los informes de los compradores, el diseno del proceso, una contingencia fiscal en la due diligence, el mecanismo de precio, el ancla y la negociacion final y la decision de la familia, para cursos de finanzas corporativas, valoracion y fusiones y adquisiciones.
Frio Industrial Segarra (vitrinas y camaras frigorificas, Tarrega): eres Laia Vidal, socia de una boutique de finanzas corporativas que asesora a la familia en la venta del 100 por ciento en 2027.
Decides que valoracion se lleva al mercado y como se presentan las cifras, que errores de los informes de Nordkalte y Ebro Capital rebates, el proceso, que hacer con una inspeccion fiscal, el mecanismo de precio, la postura final y como decide la familia.
Se mide el valor esperado para la familia, el error de la valoracion defendida frente a una referencia, la probabilidad de cierre y la defendibilidad de las cifras; al final se compara con el plan del contable de la familia.
What participants learn
After the session, participants will be able to:
- Detect the discount-rate, cash-flow, terminal-value and net-debt errors in valuation reports and quantify the effect of each on value
- Choose and defend a reviewed DCF on normalized figures over listed-peer multiples, book value or the family's spreadsheet for the sale of a family firm
- Negotiate with a buyer from a defensible valuation, using a credible anchor, competition between bidders and a walk-away price
- Select a price mechanism by its certainty, such as a locked box, and bound a disclosed tax contingency with an escrow or a price reduction
- Formulate a recommendation that closes the gap between the owning family's figure and a defensible price before the final meeting
Prerequisites
- Building a free cash flow, a WACC and a Gordon terminal value
Who it is for
An advanced simulation for participants used to working with the main frameworks and trade-offs of the subject, designed for executive education and experienced professionals.
How a session runs
- The instructor creates a session from the Eureka dashboard and invites the participants.
- Participants play 4 rounds. In each one they submit their decisions and the simulation calculates the results. The first round opens with: Lunes 18 de enero de 2027: la cifra de partida.
- The simulation can be run in English, Español.
- The instructor follows each participant's progress and results from the dashboard, and uses the class results for the debrief.