Content 1. Introduction 2. Task A - Analysis Celanese AG (CE) Competitive Force Model – Porters Five Forces Value Chain Model Celanese centralised enterprise system to its business strategy Business Value 3. Task B - Systems Development Methodologies 4. Task C 5. Bibliography 1. Introduction Celanese AG is a global producer of value-added industrial chemicals. They are one of the leaders in their product areas; Celanese has the leading position in producing acetyl products
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Employer: Blackstone Job Title: 2014 Summer Associate – Advisory London Office Business Unit: Blackstone Advisory Partners Position: Full-Time Location: London‚ UK Start Date: Summer 2014 Firm Profile: Blackstone is one of the world’s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors‚ the companies we invest in‚ the companies we advise and the broader global economy. We do this through the commitment of our extraordinary
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1. Why go public for Blackstone Blackstone’s IPO reflect some of public private equity company’s advantage and also the special need for itself. 2. What are the built-in tensions with a public private equity? How does Blackstone’s attempt to reconcile them? Brief Introduction The Blackstone Group is an American multinational private equity‚ investment banking‚ alternative asset management and financial services corporation based in New York City. Blackstone specializes in private equity‚ creditand
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The Blackstone IPO 1. If you were a fund LP how would you view the structure Blackstone has put in place to go public? IPO offered Blackstone certain advantages: - Access to the capital markets‚ as a new source of funds. - Blackstone could also use its own stock for the acquisitions. - It changed compensation structure and provided more incentives to junior management and help to keep top employees motivated long-term. Blackstone decided to adopt the MLP
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Case (1)：The Blackstone Group’s IPO 1. What are the built-in tensions with a public private equity firm? How does Blackstone’s structure attempt to reconcile them? 2. If you were an LP in Blackstone‚ how would you view the structure Blackstone has put in place to go public? 3. Would you rather be a unitholder in Blackstone or an LP? 4. As a potential employee‚ how you evaluate the Blackstone compensation package against a commensurate offer from a similar large-scale private equity firm that
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The Blackstone Group’s decision to file an initial public offering (IPO) involved the development of the compensation system‚ protection of the limited partners (LP)‚ structure of the public ownership‚ and an accounting transition in order to alleviate problems that would arise. Blackstone was required to establish a new compensation package that addressed partners carried interests as well as compensation for investment professionals and staff members that allowed each party to be no worse off
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the built-in tensions with a public private equity firm? How does Blackstone ’s structure attempt to reconcile them? 1. Transparency (disclosures of financial statements) The reason why investors are willing to let the required rate of return decrease is the lower concerns about asymmetric information due to the disclosures of financial statements. In the past‚ in order not to be subjected to Investment Company Act of 1940‚ Blackstone once analyzed its operations and concluded that it was not an investment
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Case Analysis: ITIL at Celanese Name: ______ Questions: 1. Describe the approach to IT service improvement taken at Celanese. IT initiatives at Celanese were implemented based on their cost-cutting potential. With the recent turndown in the economy only projects that clearly supported the company’s strategic direction and convincingly demonstrated a 1-year payback would be approved. Celanese also had a very decentralized approach to IT overall with each department in each country running
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Key Issue: Lion Capital and Blackstone Group want to prevent third round bidding for Orangina while ensuring that they were not overpaying. Analysis of Lion Capital and Blackstone Partnership: Both Lion Capital and Blackstone are motivated by a strategic partnership because: * Lion Capital would be able to participate in a larger deal‚ such as Orangina thus circumventing the 30% exposure limit. The partnership would also bring credibility to Lion Capital and help in its future marketing
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VALUATION TECHNIQUES Vault Guide to Finance Interviews Valuation Techniques How Much is it Worth? Imagine yourself as the CEO of a publicly traded company that makes widgets. You’ve had a highly successful business so far and want to sell the company to anyone interested in buying it. How do you know how much to sell it for? Likewise‚ consider the Bank of America acquisition of Fleet. How did B of A decide how much it should pay to buy Fleet? For starters‚ you should understand that the value
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