Ngo-2023, okuhlola ikhono lokumelana nokwehla kwamandla omnotho embonini yokupakisha nokunyathelisa, lezi zindlela kumele zinakwe.
Naphezu kokwehla kwenani lokuthengiselana emakethe ebanzi ephakathi nendawo, imisebenzi ye-M&A embonini yokupakisha nokuphrinta ikhule kakhulu ngo-2022. Ukukhula kwemisebenzi ye-M&A kubangelwa kakhulu yizici eziningana ezibalulekile - ukuguquguquka nokuqina kwemboni yokupakisha nokuphrinta, ukwanda kwezentengiselwano ze-e-commerce okuqhuba ukwanda kwesidingo sezixazululo zokupakisha nokuphrinta, ukwanda okuqhubekayo kokuhweba komhlaba wonke, kanye nokukhula kwezimakethe ezisafufusa.izindlela zokupheka zekhekhe likashokoledi elivela ebhokisini
Muva nje, uScott Daspin, uMqondisi we-Investment Banking kwa-Triad Securities, kanye noPaul Marino, iNhloko ye-Private Equity kwa-Sadis&Goldberg, babelane ngolwazi lwabo lobuchwepheshe kanye nokuqonda ngesikhathi esidlule, isimo samanje, kanye namathemba embonini yokupakisha nokunyathelisa.
Bobabili banolwazi oluningi kanye nesipiliyoni embonini. UDaspin unomlando ocebile ekwakheni ubudlelwano obusha kanye nokuhlonza nokuqedela ukuthengiselana okuphumelelayo, kuyilapho uMarino egxile ezicini ezisebenzayo zezinsizakalo zezezimali, umthetho wezinkampani, kanye nokuxhaswa ngezimali kwezinkampani, enikeza ukuqonda okubalulekile ngezitayela zezimboni, izimboni zokupakisha nokuphrinta, kanye nomthelela wazo emisebenzini ye-M&A yesikhathi esizayo..ibhokisi likashokoledi likaGudrun
Izabelo ezizimele zazingamaphesenti angama-54 emisebenzi embonini yokupakisha nokunyathelisa ngo-2022. Kungani?
IMarino: Njengoba kuqhubeka nokubaluleka kokunyathelisa amaphakheji, akumangazi ukuthi imali idonseleke kule mboni. Abanikazi abaningi bemakethe ephakathi baphethwe yimindeni, okusiza ekuthuthukiseni ukusebenza kahle. Abatshalizimali bayaqaphela ukubaluleka kanye nekhono lokukhula kwezimboni ezikhonza izimboni ezahlukahlukene, kusukela ekudleni naseziphuzweni kuya ezimpahleni zabathengi kanye nemithi.ushokoledi webhokisi lokuphila
Ingabe izinkampani zamasheya ezizimele zisebenzisa noma yimaphi amasu ukudala inani nokufeza ukukhula?
I-Daspin: Izinkampani zamasheya ezizimele zishiye uphawu lwazo embonini yokupakisha nokunyathelisa ngokusebenzisa isu "lokuthenga nokwakha". Lokhu kuhilela ukuthola inhlanganisela yezinkampani embonini efanayo noma ehlobene, bese zihlanganiswa futhi zihlanganiswa ukuze kudalwe amabhizinisi amakhulu, asebenza kahle, futhi ancintisanayo. Ngenxa yokusabalala kwemboni yokupakisha nokunyathelisa, kunezinkampani eziningi ezincane neziphakathi nendawo, kuyilapho kunezinkampani ezimbalwa ezinkulu. Abatshalizimali bangathola izinkampani eziningi futhi bazihlanganise ukuze bafinyelele umnotho omkhulu, banciphise izindleko, futhi bakhiqize inzuzo ephezulu.
Yiziphi izitayela okufanele ziqashelwe njengoba u-2023 uzohlola umqondo wokulwa nokwehla kwamandla omnotho embonini yokupakisha nokunyathelisa?impilo iyibhokisi likashokoledi
UMarino: Umthetho wesithathu kaNewton wokunyakaza ukhomba ukuthi “kuyo yonke into eyenziwayo, kukhona impendulo elinganayo nephambene.” Lo mqondo ufana nomjikelezo webhizinisi. Eminyakeni emibili edlule, ukuchuma ngokweqile kwalolu bhubhane kuye kwalinganiswa nombono ongenathemba kakhulu ka-2023.impilo iyibhokisi leshokoledi
Kodwa-ke, ukungaqiniseki kwezomnotho omkhulu cishe kuzoba nomthelela omkhulu embonini yokupakisha ngonyaka ozayo. Ngenxa yokungezwani kwezepolitiki okuqhubekayo, inqubomgomo yokuhweba yomhlaba wonke eshintshashintshayo, kanye nombono wezomnotho ongaqinisekile, izinkampani eziningi zingakhetha ukulibazisa ukutshalwa kwezimali nokunciphisa ukusetshenziswa kwemali ekupakisheni. Lokhu kungaholela ekudingweni okuhamba kancane kwezinto zokupakisha, okuthinta ukukhula kwemboni. Ngaphezu kwalokho, uma amabhizinisi eqala ukuqaphela ngesabelomali sawo, angaphendukela ezixazululweni zokupakisha ezonga izindleko, ezingase ziphonsele inselelo ukusungula izinto ezintsha kanye nokuthuthukiswa kobuchwepheshe obusha bokuphrinta ukupakisha.ibhokisi likashokoledi lika-Valentine
Kodwa-ke, umlando usikisela ukuthi imboni yokupakisha nokunyathelisa kufanele ihlale iqinile. Ukukhula okusheshayo kwezentengiselwano ze-e kanye nokwanda okubangelwa ukulethwa ekhaya kuzoqhuba isidingo sezixazululo ezintsha zokupakisha ezivikela futhi zilondoloze imikhiqizo ngesikhathi sokuthutha.ingxube yekhekhe elibhokisini likashokoledi engcono kakhulu
Ngaphezu kwalokho, njengoba abathengi beqaphela kakhulu umthelela wokupakisha endaweni ezungezile, isidingo sezinto zokupakisha eziqhubekayo kanye nezixazululo sizokhula. Ukwanda okuqhubekayo kokuhweba komhlaba wonke kanye nokukhula kwezimakethe ezisafufusa kuzodala amathuba amasha embonini yokupakisha ukuze ikhonze amakhasimende amaningi kanye nezimboni.
Ingabe ezinye zezivumelwano oye wahileleka kuzo ngonyaka odlule zinokuthile okufanayo?
UDaspin: Iningi lamadili ami okunyathelisa amaphakheji lihilela amabhizinisi omndeni anenzuzo futhi azimele ngokwezimali. Umnikazi wendlu ojwayelekile ufuna indlela yokushintshela emhlalaphansi noma ufuna nje ithuba lokuthola imali, futhi abathengisi bavame ukuba ne-85% noma ngaphezulu yenani labo elihlobene nebhizinisi labo.ibhokisi likashokoledi lika-Valentine
Ngokuthakazelisayo, umuntu onikeza ibhidi eliphezulu kakhulu akuyona ikhambi elingcono kakhulu ngaso sonke isikhathi: Abathengisi bavame ukubeka phambili ukusebenza nabathengi abazogcina inkampani iqhubeka ngemuva kokuthengisa. Isibonelo, abathengisi bavame ukwenqaba amabhidi okuqala aphezulu avela kubathengi bezezimali, bakhetha ukusebenza nabathengi abazimele abasekelwe yi-equity abanikeza amanani ancintisanayo kodwa ithuba lokutshala kabusha amanye amasheya abo futhi bahlale behilelekile ngenkuthalo Izinkampani, ngendlela yokuhlela ukulandelana. Ngenxa yalokho, isikhathi sami esiningi kulesi sivumelwano ngisichithe ngizama ukufanisa umphumela ofiswa umthengisi nomphumela ofiswa umthengi ohlangabezana nalezo zidingo.
Ngo-2022, umkhuba wezifundazwe eziningi zase-US wokwenza imithetho yomthwalo wemfanelo wabakhiqizi onwetshiwe uyaqhubeka. Iyini le mithetho futhi isho ukuthini ezinkampanini zokunyathelisa amaphakheji?
IMarino: Ngemva kwezinyathelo ezithathwe ozakwabo e-Oregon naseMaine ngo-2021, abenzi bomthetho eCalifornia naseColorado basungula imithetho ye-EPR eyenzelwe ukusiza ekunciphiseni imfucuza evela ekupakisheni nasezitsheni. Lezi zindleko, nakuba zingafani, zidinga abakhiqizi abakhulu bokupakisha nezitsha ukuze bakhokhele izindleko ezihambisana nokuqoqa nokulahla imikhiqizo yabo. Ngaphezu kwalokho, bazibekele imigomo yokukhuthaza abakhiqizi ukuthi basebenzise ukupakisha nezinto zokwakha ezihlala isikhathi eside. Iningi lemithetho emisha lidinga futhi izinkampani ukuthi zinikeze ulwazi mayelana nokusetshenziswa kabusha kokupakisha kwazo futhi zihlinzeke ngezinhlelo zokuqoqa zokuphinda zipake.ingxube yekhekhe elibhokisini likashokoledi engcono kakhulu
Yisiphi iseluleko onaso kubathengisi abangaba khona ngemva kokuvalwa kokuthengiselana?
Daspin: Ngokuyinhloko ukuqinisekisa ukuthi bayayiqonda indima yabo yesikhathi esizayo enkampanini kanye nemithwalo yabo yemfanelo kubathengi. Abanye abanikazi bamabhizinisi kungenzeka ukuthi abakaze basebenzele muntu ngaphambili, ngakho-ke kungabathatha isikhathi ukufunda ngezakhiwo ezintsha zenkampani noma izidingo zokubika. Futhi, njengoba abasebenzi benkampani bevame ukungazi ngesivumelwano kuze kube yilapho sivalwa, ngincoma ukuthi bazinike isikhathi sokuqonda ukuthi umphumela wokuthengisa uzobathinta kanjani abasebenzi babo.
Kufanele futhi bazi ukuthi bangaxhumana kanjani nabaphakeli namakhasimende ngemva kokuthengiselana. Umkhuba ophumelelayo I'Ngibonile ukuthi ukudlulisa izimemezelo ngezinsuku ezingama-20-30 ukuze abathengisi bakwazi ukudlulisa umyalezo wabo ngaphambi kokuba ababambiqhaza babo bawuzwe kweminye imithombo. Ngicabanga ukuthi kubalulekile ukuqonda ukuthi uthini umyalezo wakho nokuthi ungathini kubasebenzi bakho, amakhasimende kanye nabaphakeli.ibhokisi elihle kakhulu lokuxuba ikhekhe likashokoledi
Ingabe kukhona izinkinga zomthetho okumele zixoxiswane ngazo ekuthengweni noma ekuthengisweni ngempumelelo kwenkampani yokunyathelisa amaphakheji?
IMarino: Ukuthengwa nokuthengiswa kwebhizinisi kuyisivumelwano esibaluleke kakhulu umnikazi webhizinisi angakwenza, esincintisana kuphela ngokuhlela kokuqala noma ukuvalwa kwebhizinisi. Bonke abadlali ababandakanyeka ekuhlolweni kwezezimali nezomthetho bashintshe kakhulu, okwenza lezi zivumelwano zibe nzima futhi zibe nzima. Nakuba zingaqondile ekushintshisaneni kokupakisha, ezinye izinto, njengezinkontileka zamakhasimende, umhlinzeki kanye nabasebenzi, zidinga ukuhlolwa okwengeziwe enkambisweni yokuthenga inkampani yokupakisha.
Isikhathi sokuthunyelwe: Meyi-30-2023
