News

14 November 2018

The 21st Munich M&A Forum on the topic "Real Estate M&A" took place on 13 November 2018. The panel discussion was chaired by Prof. Dr. Christian Aders. https://www.mma-forum.eu/archiv/mma-21.html

13 November 2018

Börsen-Zeitung reports on the model developed by ValueTrust for estimating promising M&A premiums and publishes the article "When takeover costs explode". BZ 13th November 2018, page 13. [DE] Download the article

13 November 2018

ValueTrust Event on November 12, 2018 in Vienna. Prof. Dr. Aschauer, Prof. Dr. Rohatschek and Prof. Dr. Christian Aders gave presentations on the topic "The practice of impairment test evaluation: facts and critical topics". The event took place in cooperation with the Vienna Stock Exchange, JKU Linz and CIRA. Are you interested in the presentation documents? Please feel free to write to us at events@value-trust.com.

26 October 2018

ValueTrust Event in Frankfurt on 25 October 2018. At our ValueTrust event in Frankfurt am Main on 25 October 2018, we presented the unique results of the HHL/ValueTrust Public Takeover & Taking Private Studies 2018 together with Prof. Dr. Bernhard Schwetzler from the HHL Leipzig Graduate School of Management. Are you interested in the presentation documents? Please feel free to write to us at events@value-trust.com.

25 October 2018

ValueTrust, finexpert and the Institute for Accounting and Auditing of the Johannes Kepler University Linz release the third issue of the DACH Capital Market Study as per June 30, 2018.
For the first time, we also release a ValueTrust European Capital Market Study, which uniquely analyzes the relevant parameters for the European capital market on an aggregated level.
Download ValueTrust DACH Capital Market Study Download ValueTrust European Capital Market Study

11 October 2018

ValueTrust Event in Munich on 4 December 2018 on the topic "Results of the HHL/ValueTrust Public Takeover & Taking Private Studies 2018". Together with Prof. Dr. Bernhard Schwetzler (HHL Leipzig) we will present our unique study results and look forward to interesting presentations on the topics "Total Cost of Ownership", "Success Factors of Takeovers" and "Synergy Analysis and Maximum Payable Premiums".

8 October 2018

ValueTrust acts as valuation expert to Wild Bunch AG on its financial restructuring in connection with multiple debt-to-equity swaps. Download the article

1 October 2018

ValueTrust acts as valuation expert to Mologen AG on a global assignment and co-development agreement with Oncologie Inc. Download the article

12 September 2018

finexpert – ValueTrust Multiple Report 08/2018 Download the report

4 July 2018

ValueTrust article in the M&A Review, 7-8 / 2018: Takeover Report Germany 2018 [German] Download the article

27 June 2018

ValueTrust once again sponsored the 21st Arab-German Business Forum of the Ghorfa Arab-German Chamber of Commerce and Industry e. V., which took place from June 25th to 27th 2018 in Berlin.
Prof. Dr. Christian Aders gave a panel talk on "Direct Investments & Know-How Transfer: Supporting the Industrialization Plans in the Arab World" and moderated the panel discussion "Investment Opportunities in the Venture Capital and Startup Clusters". Panelists were Mark Hauptmann (Member of the German Parliament), Sascha Noeske (CEO, Strategis AG), Christian Meermann (Founding Partner, Cherry Ventures Verwaltungsgesellschaft mbH) and Dr. Ing. Berthold Schmidt (President and CEO, TRUMPF Photonics). All information about this year's Ghorfa can be found at www.business.ghorfa.de.
Download the event programm Download the presentation

5 June 2018

On June 5, 2018, the first ValueTrust Business Breakfast took place in Frankfurt am Main at the Jumeirah Hotel Frankfurt.

After a joint breakfast, Managing Director Thomas Kühl and Manager Benno Jacke gave short presentations on the topic "Current Developments in Corporate Valuations in the Form of Stock Corporation Structural Measures: Lessons Learned by STADA, Drillisch / 1 & 1 and TLG / WCM".

2 May 2018

The Swiss Takeover Board qualified ValueTrust Financial Advisors SE as a Fairness Opinion Provider for public takeovers and mergers in the Swiss market. Download the article Download the disposal

24 April 2018

finexpert – ValueTrust German Takeover Report 2018 Download the report

20 April 2018

This year’s 15th CFO-Forum in Stegersbach/Austria, themed ‘The future CFO – Less finance. More strategy!’, attracted 200 CFOs and financial experts. In a separate session Dipl.-Kffr. Marion Swoboda-Brachvogel (Director, ValueTrust Financial Advisors GmbH) together with Dr. Walter Oblin (CFO, Österreichische Post AG) held a presentation on the topic ‘Unicorns and the evaluation of start-ups‘. Thereby the relevant evaluation methods for start-ups as well as contract design options to create an alignment between founders and investors in practice were examined. [German] Download the presentation

11 April 2018

ValueTrust acts as valuation expert to bbh on a dispute with the German Federal Network Agency about the cost of equity for network operators. Download the article

21 March 2018

ValueTrust acts as valuation expert to Nidda Healthcare and STADA on the Domination and Profit or Loss Transfer Agreement. Download the article

15 March 2018

ValueTrust, finexpert and the Institute for Accounting and Auditing of the Johannes Kepler University Linz release the second issue of the DACH Capital Market Study as per December 31, 2017. Download the study

14 March 2018

ValueTrust and the Institute for Accounting and Auditing of the Johannes Kepler University Linz release the fifth issue of the Austrian Capital Market Study as per December 31, 2017. Download the study

13 March 2018

ValueTrust article in M&A Review, 03/2018: Implicit capital costs in the DACH region: Do lower implied capital costs lead to higher valuation levels? [German] Download the article

22 February 2018

This year's ValueTrust New Year's Reception on February 22, 2018 was themed "Corporate Governance in the Tension of Code Reform and Investor Expectations".

More than 90 invited guests met again at the Hotel Bayerischer Hof in Munich to discuss current trends on this topic.

Key note speaker Prof. Dr. Rolf Nonnenmacher together with panelists Michael H. Kramarsch and Dr. Christian Kames gave exciting insights in upcoming challenges and changes for boards and board members of public companies. More than ever the focus on protection, defense and enhancement of value creation will remain one of the key topics for boardrooms. Active investors, proxy advisors and regulators are enforcing this trend continuously.

7 February 2018

Presentation by Prof. Dr. Aders at the J.P. Morgan and McKinsey Conference "Technology M&A - Valuation of High Growth Companies" on the topic "Valuation of Technology Companies for IFRS Accounting Purposes".
Download the presentation

31 January 2018

ValueTrust Article in Corporate Finance, 1-2/2018: Success factors for takeover offers in Germany [German] Download the article

23 January 2018

Presentation by Prof. Dr. Aders in the context of the JKU Linz and WU Vienna - Research Initiative Business Valuation on the topic: „ Growth, accumulation and inflation (from the perspective of practitioners)“. [German]
Download the presentation

1 January 2018

ValueTrust expands Munich office: Dr. Ing. Christian Büchelhofer changes from KPMG to ValueTrust
Open profile

11 December 2017

ValueTrust acted as valuation expert to TLG and WCM on the Domination Agreement.
Download the article

1 November 2017

ValueTrust, finexpert and the Institute for Accounting and Auditing of the Johannes Kepler University Linz release the first issue of the DACH Capital Market Study as per June 30, 2017.
Download the study

25 October 2017

ValueTrust acted as valuation expert on the Squeeze-out of IVG Immobilien AG
Download the article

4 August 2017

ValueTrust and the Institute for Accounting and Auditing of the Johannes Kepler University Linz release the fourth issue of the Austrian capital market report as per June 30, 2017.
Download the report

31 July 2017

ValueTrust Article in Corporate Finance, 07-08/2017: Takeover Report Deutschland 2017 [German].
Download the article

5 July 2017

Prof. Dr. Christian Aders is co-editor of the Handelsblatt Jahrbuch Unternehmensbewertung 2017.

19 June 2017

ValueTrust in the press: Börsen-Zeitung publishes the article: „Deal mit United Internet kommt bei Anlegern an“.
CFO André Driesen in the interview. BZ 19th June 2017, page 8.
Download the article

24 May 2017

ValueTrust acts as lead Carve-Out Advisor to Sunrise Group on the carve-out and sale of Swiss Towers AG
Download the article

12 May 2017

ValueTrust acts as valuation expert to the management board of Drillisch AG on the merger with 1&1 Telecommunication SE
Download the article

28 April 2017

This year’s 14th CFO-Forum in Stegersbach/Austria, themed ‘Digitalisation offers more opportunities than threats’, attracted 200 CFOs and financial experts. In a separate session Prof. Dr. Aders together with Mr. Mag. Hiesinger (CFO, Mondi AG) held a presentation on the topic ‘Cost of capital as link between M&A, fair value-accounting and performance measurement’. [German]
Download the presentation

28 April 2017

ValueTrust article in RWZ Recht und Rechnungswesen, 4/2017: Die Ermittlung von Eigenkapitalkosten durch die empirische Messung von impliziten Branchenrenditen – ein alternatives Kapitalkostenkonzept? [German]
Download the article

1 April 2017

ValueTrust strengthens its Vienna office with Marion Swoboda-Brachvogel
Open News

28 March 2017

finexpert - ValueTrust German takeover report 2017.
Download the report

17 March 2017

Prof. Dr. Christian Aders writes guest contribution in Finance Magazin: New shareholder rights directive - Investors pay attention to the remuneration of the Management Board
Download the article

14 March 2017

ValueTrust acts as financial advisor to Wienerberger AG on the assessment of its value-based management system and target setting.
Download the article

23 February 2017

ValueTrust and the Institute for Accounting and Auditing of the Johannes Kepler University Linz release the third issue of the Austrian capital market report as per December 31, 2016.
Download the report

23 January 2017

As part of the lecture series "Governance, Performance & Pay in the triad of the Supervisory Board, Management Board and owners" Prof. Dr. med. Aders gave a presentation on the topic "Pay for Performance: What is Performance?". [German]
Download the presentation

6 December 2016

ValueTrust article in Corporate Finance, special issue valuation, 12/2016: The compounding rate for the derivation of regular compensation payments (angemessener Ausgleich) of domination and profit loss transfer agreements
Download the article

18 October 2016

ValueTrust has been announced as independent expert (MAC clause) in the course of the public takeover offer of Braas Monier Builing Group S.A. by Standard Industries Inc.

30 August 2016

ValueTrust and the Institute for Accounting and Auditing of the Johannes Kepler University Linz release the second issue of the Austrian capital market report as per June 30, 2016.
Download the article

18 August 2016

Prof. Dr. Christian Aders is co-editor of the Handelsblatt Jahrbuch Unternehmensbewertung 2016.

13 July 2016

ValueTrust strengthens its Frankfurt office:
Thomas Kuehl joins ValueTrust from Baker Tilly Roelfs
Open News

15 June 2016

ValueTrust article in RWZ Recht und Rechnungswesen, 6/2016 (Source: Publishing House LexisNexis Austria): Die implizite Marktrisikoprämie am österreichischen Kapitalmarkt [German]
Download the article

22 April 2016

ValueTrust acts as financial advisor to Telefónica Deutschland on the carve-out and sale of wireless towers to Telxius.
Download the article

15 April 2016

finexpert - ValueTrust German takeover report 2016.
Open News

30 March 2016

ValueTrust and the Institute for Accounting and Auditing of the Johannes Kepler University Linz release the first issue of the Austrian capital market report as per December 31, 2015.
Download the article

8 March 2016

ValueTrust acts as an Independent Valuation Expert to BHF Kleinwort Benson in the proposed public takeover offer by FOSUN
Download the article

4 February 2016

ValueTrust acts as valuation expert to Bilfinger SE on its strategic reorganization
Download the article

7 December 2015

ValueTrust has been announced as independent expert (MAC clause) in the course of the public takeover offer of Deutsche Wohnen AG by Vonovia SE.

27 November 2015

ValueTrust hosted two events on this year’s EACVA Conference. A panel with professionals of the Banking, Advisory and Corporate world moderated by Prof. Dr. Aders discussed the current topics when valuing real estate companies.
Download the presentation

In a second event Prof. Dr. Aders and Prof. Dr. Schwetzler presented the first results of a takeover study analyzing public takeovers in Germany carried out by ValueTrust and HHL Leipzig
Download the presentation

2 November 2015

ValueTrust article in Corporate Finance 11/2015: New Rules for Taking Private in Germany and Implications on Takeover Strategy and Taking Private.
Download the article

3 September 2015

ValueTrust and finexpert present the first issue of the finexpert - ValueTrust German takeover report.
Open News

1 June 2015

ValueTrust acts as independent valuation expert to the minority shareholders of Sentez Sağlık Hizmetleri A.Š. on the determination of the fair value range
Download the article

29 May 2015

ValueTrust sponsors the 18th Arab-German Business Forum of Ghorfa Arab-German Chamber of Commerce and Industry e. V. taking place in Berlin from 8th to 10th of June 2015.
Download the event programm

23 April 2015

ValueTrust acts as independent valuation expert to Deutsche Annington on its acquisition of GAGFAH
Download the article

25 March 2015

ValueTrust in the press: Interview in the business magazine SOUQ, edition 1/2015: Direct investments in Germany total 80 billion Euros in six months. Dr. Aders: Arab investors have a limited  [Arabic]
Download the interview

13 January 2015

ValueTrust acts as financial advisor to Semperit AG Holding on the optimization of the capital structure
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25 November 2014

Prof. Dr. Aders addresses the 12th German M&A Congress on the topic “Public Takeover and Taking Private: Status quo”
Download the article

20 October 2014

ValueTrust in the press: WirtschaftsWoche Online publishes the article: „War Bank Austria zu billig?: Prozess gegen UniCredit nimmt wieder Fahrt auf“
Download the article by Cornelius Welp

16 October 2014

ValueTrust acts as Financial Advisor to RHJ International on the acquisition of the remaining shares in Kleinwort Benson Group
Download the article

15 October 2014

Prof. Dr. Ewald Aschauer supports ValueTrust as senior advisor for Austria.
Supervisory Board / Senior Advisors

24 September 2014

Prof. Dr. Christian Aders is co-editor of the Handelsblatt Jahrbuch Unternehmensbewertung 2014.

12 September 2014

ValueTrust acts as Valuation Advisor to IVG Immobilien AG on its financial restructuring
Download the article

20 August 2014

ValueTrust acts as financial advisor to SOSTNT Luxembourg S.à r.l.  on the acquisition of shares in FTI Finanzholding GmbH
Download the article

3 July 2014

ValueTrust acts as financial advisor to THURSDAY Holding Ltd. on the acquisition of shares in RT / Raiffeisen Touristik Group GmbH
Download the article

4 June 14

ValueTrust sponsors the 17th Arab-German Business Forum of Ghorfa Arab-German Chamber of Commerce and Industry e. V. taking place in Berlin from 4th to 6th of June 2014 and publishes an analysis of the mergers & acquisition activities of the Arab world and Germany.
Download the analysis

14 May 2014

ValueTrust acts as independent Fairness Opinion provider to i:FAO on the public tender offer by Amadeus Group
Download the article

24 April 2014

ValueTrust acts as Financial Expert to RHJ International on the acquisition of BHF-BANK.
Download the article

14 April 2014

Robert Frank supports the Munich team of ValueTrust as a Senior Manager from April on. The Business Administration and EMBA graduate has gained extensive experience in the field of valuation and transaction advisory services. Prior to joining ValueTrust in spring of 2014 he was employed at Rödl & Partner. At ValueTrust Robert will work on corporate valuations and valuations in the context of dispute and litigation as well as restructuring.

21 March 2014

ValueTrust is sponsoring the quarterly finexpert report of FINEXPERT GmbH under the leadership of Prof. Dr. Bernhard Schwetzler of HHL - Leipzig Graduate School of Management. Feel free to contact us for the latest reports or download the report.
Download the finexpert report

11 March 2014

ValueTrust sponsors the GCC-Germany Business and Investment Forum of Ghorfa Arab-German Chamber of Commerce and Industry e. V. taking place in Berlin between 11th and 13th of March 2014.

3 February 2014

Editorial article in Corporate Finance on the topic “A case for an appropriate reduction of complexity in the company valuation practice” [German]
Download the article

3 February 2014

Press article on ValueTrust: Personal particulars in Corporate Finance [German]
Download the press article

16 December 2013

ValueTrust press notice on the spin-off from Duff & Phelps and the rebranding as well as the strategic repositioning.
Download of the press notice

16 December 2013

ValueTrust and HHL Leipzig develop the first German study on the systematic analysis of takeover offers, delisting strategies and “total compensation“.

2 December 2013

Prof. Dr. Aders appointed starting in 2014 as a member in the publisher council for the professional journal Corporate Finance.

18 October 2013

Prof. Dr. Aders addresses the 7th IACVA-Germany annual conference on the topic “Current Developments in Public Takeovers and Delisting“.

15 October 2013

Pro-Seminar during the winter semester 2013/14 by Prof. Dr. Christian Aders at the LMU Munich addresses current topics in enterprise valuation practice such as the activity of hedge funds, the adjustment of the market risk premium, etc.

14 October 2013

An American multinational retains ValueTrust to prepare a fair value appraisal for taxation and accounting purposes.

4 October 2013

After the operational re-launch of ValueTrust, the court appointments for Prof. Dr. Aders in various special court proceedings are staffed with employees from ValueTrust under his leadership.

3 September 2013

ValueTrust becomes a member of Ghorfa Arab-German Chamber of Commerce and Industry e.V.

3 June 2013

Prof. Dr. Aders together with Prof. Dr. Dr. h.c. Ballwieser involved in litigation between a Bavarian Bank and an Austrian Bank.