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Business Plan” working group

This document is not a mandatory standard, but APEI’s opinion on good practice. According to the 2003 Naulot report, the Discounted Cash Flow (DCF) method represents a major advance in…

Publications

Working group: stock market comparables

Along with the DCF method, the market comparison method is the most widely applied method by independent valuers and appraisers in the context of takeover bids, but also generally in…

Publications

Interview with the Chairman of APEI – The Naulot Report

Interview with the President of APEI – Le Rapport Naulot : 10 ans après – Agefi, 24 July 2017 “Independent expertise is invaluable in securing regulated agreements”. Maurice Nussenbaum, Chairman…

Publications

The usefulness of the letter of representation for the independent expert: good practice, questions and answers and suggestions

Objectives of the note The Working Group has set itself the following objectives: Redefine in practical terms the principles and content of the letters of representation to APEI members for…

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Invitations to tender for the selection of the independent expert

“Although there are various ways of choosing the independent expert to carry out assignments governed by the AMF General Regulation, selection by tender has long been one of the possible…

Publications

Checklist” end-of-assignment questionnaire

The end-of-assignment questionnaire is divided into several stages in the form of checkpoints: – Acceptance of the assignment – Preparing the work – File documentation – Finalising the works –…

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Reflections on agreements and related operations

“(..)This memorandum was prompted by the observation that, in the structuring of takeover bids, agreements and, where they are in place, so-called “related transactions” are relatively frequent and have –…