Often a sale process involves more than one path, to ensure that you get the best result by tapping the most favourable alternative available at the time. This will involve careful structuring of and coordination between the private and public sale tracks, and ensuring the investment case has the most compelling reason to buy. STJ is uniquely positioned to manage this process, tapping into our Strategic Research Advisory team and ensuring best execution of the public market track, which will set the overall timetable and provide the widest form of price discovery. Our process can also facilitate institutional funding on a private basis, which may be the best alternative for the proposed company development plan.
As a pure capital markets advisor, STJ does not face any internal conflicts between the private and public sale tracks. No single advisor offers “best in class” capability in each track, and using only one advisor will undoubtedly lead to conflicts. STJ is best positioned to align and create the necessary competitive tension between various sale tracks and provide stakeholders with the greatest transparency to drive key decisions throughout the process.
Having STJ as your “best in class” ECM advisor will provide pricing and market transparency to inform and strengthen trade sale negotiations and optimise the final sale result.
“Without STJ's advice in mid-March, which was contrary to the banks' indications, regarding both valuation and viability of the IPO, the M&A dialogue with DFDS would not have been restarted and a sale would not have been consummated at either the valuation or timing achieved.”
Selling Shareholder, U.N. Ro-Ro