Summer University Course
Gábor Kővári and professionals from Deloitte Hungary
Basic understanding of financial statements and corporate finance principles.
During the course, students will be introduced to the world of M&A, by learning the goals, drivers and participants of a corporate acquisition process. They will become familiar with each major step of an acquisition using a comprehensive case study. Through a practical approach, the course will involve the simulation of typical tasks to be completed during an M&A process, such as market screening, valuation and due diligence. Students will be working in small groups, where - with the help of instructors - they will prepare materials that are commonly required during real-life transactions.
- Market screening, basic understanding of a company’s key financials
- Common valuation approaches, model building and indicative valuation of a company
- Due diligence of a company
- Transaction overview, transaction closing and other considerations
- Role of an advisor in an M&A process
- Overview and general understanding of an acquisition process
- Basic principles of market screening and analysis of a company’s key financials
- Basic understanding of valuation concepts, ability to build and use a valuation model
- Understanding the process of due diligence, overview of common type of analyses performed, identifying risks, key trends and understanding potential mitigants
- Understanding additional factors impacting the purchase price of a company during acquisition, such as EBITDA normalization, working capital position, net debt position, off-balance sheet liabilities, etc.
- Presentation of materials and findings during an M&A process.
The necessary reading materials, case study and data to work with will be provided by Deloitte during the course.
Introduction of facilitators: The course is held by various Deloitte senior professionals with extensive, day to day experience on the field of mergers and acquisitions, valuation and due diligence.
Gábor Kővári (course leader) works as an Assistant Director at Deloitte Hungary Financial Advisory, mainly focusing on business planning, valuation, portfolio transaction and due diligence projects in the financial services industry. He is also involved in multiple valuation and modelling related engagements as well as transactions in different other sectors. He has a total of 7 years of experience in the above mentioned fields. His most relevant experiences include:
- Merger support services in the merger of three top 10 banks in Hungary (Takarékbank (MTB), MKB Bank, Budapest Bank) which is one of the largest transactions in the CEE region;
- Due diligence services supporting the OTP Group in its expansion via several bank acquisitions in the CEE region;
- Complex financial advisory services for the National Bank of Hungary in relation to designing the securitization framework;
- Buy-side advisory for Erste Bank Hungary in the potential acquisition of a leasing company in Hungary;
- Sell-side advisory for Sberbank in the sale of its non-performing retail mortgage portfolio in Hungary;
- Portfolio valuation for CIB with regards to its internal non-performing portfolio carve-out projects
Heléna Rapai obtained her MSc degree in Finance at Corvinus University of Budapest and shortly after, she joined Deloitte Hungary in 2015. She is working as a Manager for 2 years now and has been involved in numerous projects, with a focus mostly on due diligence and accounting advisory.
Réka Hegedűs-Bogosi graduated from Nova School of Business and Economics in Lisbon, Portugal with a Master in Finance specialized in Corporate Finance. She is also a CFA charter-holder. She is currently a Manager at Deloitte Hungary Financial Advisory with over 5 years of experience in corporate finance, transaction services and valuation and modelling. Réka’s main focus is financial due diligence as either a sell-or a buy-side advisor.
Nóra Kollár graduated from Corvinus University of Budapest with a Master in Accounting. She has also ongoing studies with the Association of Chartered Certified Accountants. Nóra is currently a Manager at Deloitte Hungary Financial Advisory with over 5 years of experience in transaction services with a focus on the financial services industry (banking and insurance).
Dániel Balogh is a Manager at Deloitte Hungary Financial Advisory, and has 4 years of experience in corporate finance and valuation & modelling.
András Vinnai is a Manager at Deloitte Hungary with over 6 years of experience with the firm in financial and business advisory services. Andras has been involved in numerous projects in the banking industry and public sector gaining relevant experience in PMI projects.