The Basics of International M&A Transactions

About the Episode

In this episode of M&A Talk, we’ll take a deep dive into the art and science of cross-border transactions with Amit Thakur, the Managing Partner of Amax Capital, a boutique M&A and capital raising advisory firm in New York. Amit has advised clients on 6 continents. He specializes in situations requiring a deep understanding of the characteristics of complex structures and cross-border transactions. Amit has M&A experience across the globe, including North America, Asia, Africa, and Europe.

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In this Episode

2:40 Why has there been a recent boom in cross-border deals?
6:00 What are the most popular regions?
7:40 What are their primary goals for acquiring a foreign company?
10:45 How do the objectives differ across the geography?
11:35 What are you seeing in the Oceania region?
12:40 Do valuations differ significantly by region?
15:50 Are different valuation methods used in different markets?
17:25 What are some of the considerations before entering a new market?
20:05 What currency is the transaction usually conducted in?
21:00 Should you time the transaction to coincide with a favorable currency environment?
22:00 What’s the biggest challenge in conducting a cross-border transaction?
26:50 What are the other major difficulties?
31:40 What’s the solution to integration?
33:05 Where do you start?
33:40 Who do you need on your team?
34:50 How is the transaction structure different by region?
41:20 The cross-border search process
42:50 Overview of the major corridors
46:40 European Union Transactions
48:40 What changes do you see in cross-border transactions in the future?

Highlights

  • Considerations before entering a new market – tax, legal, political, culture, the market (consumer behavior, channel structure, etc.).
  • The number one challenge is culture.

Meet Our Guest

Amit Thakur

Amit Thakur

Managing Partner of Amax Capital | New York, New York

Amit Thakur is a seasoned professional with 20 years of experience helping corporations evaluate and execute important strategic initiatives focused on M&A, financing, new business development, structuring, and capital raising. He is the Managing Partner of Amax Capital, a boutique M&A and capital raising advisory firm in New York. In addition, Amit is also a founder and CEO of a fintech startup, GetAugie.

Amit started his investment banking career with ICICI Securities in India. He then went on to start and nurture three investment banking businesses for Standard Chartered Bank in different parts of the world, and cover financial institution clients at Morgan Stanley. He has structured and advised on a number of financing transactions, including leveraged finance for acquisitions, event-driven and asset-backed financing, and raising private equity for acquisition, growth and start-up companies. This has given him a deep understanding of strategic capital and capital strategy across the debt-equity spectrum.

In 2018, Amit set up Amax Capital to bring big-bank quality advisory to mid-market clients. An electrical engineer and an MBA from some of the top institutions in India, Amit has had a wide set of interests and experiences – from being a fellow at one of the foremost radio astrophysics centers to banking and markets to entrepreneurship to the literary arts.

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