Assistance to a petrochemical company for its court appointed receivership and seeking buyers

Sector of activity: Petrochemicals
Size (sales in €m): 800

Context

  • 1st phase: Ad hoc mandate/Conciliation to assist the debtor in negotiations with major clients
  • 2nd phase: Preparation of court appointed receivership/estimation of cash requirements in the context of the observation period/information for bodies participating in the procedure
  • 3rd phase: Support relating to the disposal/seeking a buyer/support for the company as part of the due diligence and production of financial information
    It should be noted that the court appointed receiver was on a representation assignment, he was administering the company

Our mission

Modeling of impacts related to damage encountered during the fall with major clients

Construction of cash flow forecasts in bonis and in the context of court appointed receivership

Assistance for the court appointed receiver in his negotiations with major clients for financing the OP

Vendor assistance assignment in order to save time for the various potential buyers

Modeling of the impact of negotiations with the major clients of each of the buyers.

Results

  • Takeover of the company within the framework of a job protection/continuation plan (2,600 direct jobs and 10,000 indirect jobs)

Key success factors

  • Highly pragmatic approach: full integration of Eight Advisory teams in decision-making teams and assistance with risk management for the court appointed receiver (representation mission)
  • Qualities demonstrated by Eight Advisory on this case: availability, responsiveness and pragmatism, total independence (modeling of hypotheses for each of the buyers)
  • Focus on our areas of expertise, our network enabled us to include high-quality professionals in the process to find a buyer
  • Quality of discussions between the bodies participating in the procedure, the employee representative bodies and the potential buyers