Value creation through corporate restructuring a case of Natron – Hayat
Value creation through corporate restructuring a case of Natron – Hayat

Summary/Abstract: This paper focuses on a restructuring process from several aspects, but in essence it considers its main objective - value generation and increase. First, it introduces the basic concept of restructuring and a brief theoretical background of its importance. This process is determined by several causes of company distress, the situation that precedes the necessity to restructure. In order to accomplish a successful restructuring, one should be familiar with techniques and methodology required for objectives defined prior to the implementation phase. The core interest of any restructuring process is a company value increase. Therefore, the basic understanding of the value concept and its estimate is needed. In order to provide not only theoretical framework for this very process, but also a practical view of its possible range, the paper contains a brief flow of significant activities, both prior and during the restructuring process of the “Natron dd Maglaj” company. It reveals the trend of a free cash flow, a widely used measure of a value creation, made by a company founded through the venture of “Natron dd Maglaj” and “Hayat Holding”, a Turkish investor elected to manage the restructuring project. Findings of the paper show real potentials of the restructuring process once it is properly carried out and managed within acceptable assumptions even in almost inevitable company failure situation, as in the case of “Natron dd Maglaj”.

• Details
• Contents