2016 CROSS-BORDER M&A CONFERENCE Investment, Digitization and Globalization in Times of Disruption DATE Tuesday, September 20, 2016 TIME 9.00 am - 4.00 pm CEST VENUE Hotel Bayerischer Hof, Munich Co-sponsored by Media Partners In partnership with 2016 CROSS-BORDER M&A CONFERENCE Investment, Digitization and Globalization in Times of Disruption US/Europe and Asia/Europe Cross-Border M&A and Activist Shareholders McDermott Will & Emery’s Munich M&A Conference In contrast with 2015, Q1of 2016 was considerably slow- (MuMAC) is celebrating its 6th year. We are looking forward er. M&A activity by deal volume globally was down by 24 to welcoming significant M&A market participants, strategic per cent this year, compared to Q1 of 2015. In the private and private equity investors, and individuals from the advi- equity market, buy-outs were down by 15.3 per cent and sory world to take part in discussions on topics relating to exits by 29.7 per cent over the same period. Was this as a cross-border M&A. result of the markets preparing for the uncertainty surround- ing the United Kingdom’s Brexit Referendum, or a sign of We would very much like to thank in advance our key note something wider? speaker Callum Mitchell-Thomson, Head of Investment Banking Germany for J.P. Morgan Chase & Co., and the MuMAC 2016 is the best place to get answers from experts. many speakers participating in the panel discussions. Come and join us. MuMAC 2016 will cover topics of major significance to the cross-border M&A markets, including regional investment trends in Europe, both from and into Asia and the United States. We will examine the effect of these trends on sectors Christian von Sydow Dr Nikolaus von Jacobs such as health; technology, media & telecoms; real estate and automotive. We will also, of course, be looking at the current and potential effect of Brexit on international M&A. Since last year’s conference, the M&A market brightened dramatically. 2015 was a record year since 2008: the overall value of transactions in the European M&A market rose by 47 per cent to US$1,000 billion while the number of deals fell slightly to 6,361. Remarkably, the number of mega-deals increased significantly. The average deal size in Europe rose by 51.5 per cent to US$156 million. The top three most active industry sectors were consumer goods (21 per cent), health care (20 per cent) and TMT (14 per cent). 2015 also saw the highest cross-border deal volume since 2008. In all, 788 transactions (worth US$350 billion) were inbound from the United States, 585 (worth US$240 billion) outbound to the United States. A total of 311 transactions (worth US$86 billion) were inbound from Asia and 185 (worth US$16 billion) outbound to Asia. 2 MuMAC 2016 Invitation Conference Agenda 8.00 am – 9.00 am Registration and Continental Breakfast 9.00 am – 9.05 am Welcoming Remarks by Head of Transaction Group, McDermott Will & Emery Ira J. Coleman Grand Ballroom Global head of the Corporate & Transactional Practice, Miami 9.10 am – 9.50 am M&A and Private Equity Market 2016 Grand Ballroom Market snapshot Pricing and appetite Search for value Auction trends Dr Michael Drill, CEO Germany and Managing Director, Lincoln International Dr Andreas Fendel, Quadriga Capital Philipp Haindl, Managing Director, Serafin Group Jan Mayerhöfer, Partner, Mayerhöfer & Co Corporate Finance Beratung Tristan Nagler, Managing Director, Aurelius Investments Steve Roberts, Private Equity Leader, PwC Germany Moderator: Dr Nikolaus von Jacobs, Partner, McDermott Will & Emery 9.55 am – 10.15 am Cross Border M&A in the Shadow of Brexit Grand Ballroom Callum Mitchell-Thomson, Head of Investment Banking Germany, J.P. Morgan 10.15 am – 10.45 am Coffee Break MuMAC 2016 Invitation 3 Conference Agenda 10.45 am – 11.30 am Cross-Border M&A USA and Europe Grand Ballroom Brexit and its impact on cross-border M&A The US capital markets and their role in technology M&A Key M&A sectors for US/European M&A in 2016 US and European companies: buyers or sellers? Torsten Krumm, Managing Partner, HQ Equita Dr Jan Mathias Kuhr, Head of Corporate Law, KION GROUP Thomas Sauermilch, Partner, McDermott Will & Emery Patrick Schaich, Principal, Origination, Riverside Dr Burkhard Weber, Managing Director, Lincoln International Moderator: Melville D. Mummert, Managing Director, Head of European Investment Banking, Raymond James 11.35 am – 12.15 pm Cross-Border M&A Asia and Europe Grand Ballroom Chinese M&A activity in Europe: a long term trend or just hype? Chinese investors’ sector preferences and the question of the deal rationale behind their choices The real role of the Chinese Government in a typical deal How to run a global business with a Chinese shareholder Junda (David) Dai, Partner, McDermott Will & Emery Dr Qing Ding, Chairman, Shenzhen Shentou Investment Co. Yongseok Jang, Executive Vice President and Head of Corporate Strategy Team, CJ Group Jacob Won, Managing Partner, Locus Capital Partners Dr Mei Wu, General Manager, Joyson Europe Moderator: Wei Wang, Partner, PwC 12.15 pm – 1.15 pm Buffet Lunch Break 4 MuMAC 2016 Invitation Conference Agenda: Parallel Sessions 1.15 pm – 2.00 pm Parallel Sessions Automotive, Digital Transformation and Private Equity The convergence of the automotive, technology and mobility sectors A China – what will drive its growth in the next few years? Grand M&A versus cooperations/strategic partnerships Ballroom The future of private equity in the automotive industry Florian Kähler, Partner, ECM Equity Capital Management Martin Schwarzer, Partner, PwC Mergers & Acquisitions Alexander Sixt, Member of the Executive Board for Organization and Strategy, Sixt Fabian Wasmus, Partner, EQT Partners Dr Thomas von Werner, Managing Director, Penta Investments Moderator: Dr Joachim Koch, Partner, IMAP M&A Consultants Life Sciences, Health and Private Equity: Licensing and Structured M&A Transactions B The convergence of M&A and licencing Gallery Structured transactions in privately held companies v public M&A Litigation risk around due diligence obligations Christoph Brandenberger, Managing Director, Healthios Capital Markets Dr Irina Staatz-Granzer, Founder and Managing Director, Staatz BD & Strategy Dr Sven Oleownik, Partner, Head, Gimv Germany Dr Erich Tauber, Chief Executive Officer, Co-Founder, Themis Bioscience Charlie Troup, Managing Partner, Dukestreet Kristian A. Werling, Partner, McDermott Will & Emery Moderator: Emmanuelle Trombe, Partner, McDermott Will & Emery MuMAC 2016 Invitation 5 Conference Agenda: Parallel Sessions 2.05 pm – 2.45 pm Parallel Sessions TMT and Private Equity Due diligence/valuation challenges in software businesses moving from license to SaaS A revenue models Grand Media or technology? Data-rich businesses with subscription revenues Ballroom Opportunities in the "internet of things" FinTec solutions to regulatory change Killer content: IP remains king but new distribution channels are changing the funding model Christopher Brackmann, Director, Bridgepoint Olya Klüppel, Partner, ESO Capital Gunther Thies, Member of the Board, STP Informationstechnologie Mathias Wahrenberger, Managing Director, Burda Digital Moderator: David Evans, Managing Director and European practice leader, Alvarez & Marsal Cross-Border Real Estate European real estate: safe haven or overpriced? B Teaming up: private equity meets German developers Gallery Outlook: is there any upside left? Tobias Huzarski, Principal, KKR Kohlberg Kravis Roberts & Co. Partners Frank Müller, Executive Director Legal Affairs, Corpus Sireo Real Estate David Poremba, Director, Eastdil Secured Thomas Wiegand, Managing Director, Cerberus Deutschland Moderator: Dr Jens Ortmanns, Partner, McDermott Will & Emery 6 MuMAC 2016 Invitation Conference Agenda 2.45 pm – 3.00 pm Coffee Break 3.00 pm – 3.15 pm Investment from the Gulf Region into Europe and the United States Grand Ballroom Raed Fakhri Vice President, Investments, Bahrain Mumtalakat Holding Company (Mumtalakat) 3.20 pm – 4.00 pm Activist Shareholders: Experiences in the United States and Europe Grand Ballroom Criteria for becoming a target Major challenges and obstacles for activists in Europe and the United States The performance of activist funds in Europe and the United States Thomas Kolaya, Managing Director Germany and EGM, Alvarez & Marsal Roy Jacob Katzovic, Co-founder & Chairman of the Board, Saddle Point Group Till Hufnagel, Partner, Petrus Advisers Dr Olaf Marx, Managing Director, MCGM Moderator: Bilal Sayyed, Partner, McDermott Will & Emery 4.00 pm – 4.30 pm Reception MuMAC 2016 Invitation 7 Participants and Speakers Christopher Brackmann and the related governmental approvals, statutory disclosure Director, Bridgepoint and post-closing integrations. David is admitted to the Chi- Christopher Brackmann is a member of the Business Ser- nese Bar and the New York State Bar. vices and Media & Technology Sector Teams at Bridgepoint, a pan-European private equity investor focused on acquiring Dr Qing Ding leading middle market businesses valued up to €1 billion. He Chairman, Shenzhen Shentou Investment Co. joined the firm in 2008 and spent his first seven years in the Qing Ding is the Chairman of Shenzhen Shentou Investment, London office before becoming a member of the Frankfurt which he founded in 1998 with the backing of then the first team in 2016. Prior to joining Bridgepoint, he was an As- Chinese privatisation agency, Shenzhen Investment Holding sociate in the financial sponsors and leveraged finance team Co. Ltd. In 2001, Dr Ding took over the entire company. He at JPMorgan in London, where he was involved in numerous previously led FE Beratungs-und Beteiligungs GmbH, which European buy-outs. was founded in 1992. Christoph Brandenberger Dr Michael Drill Managing Director, Healthios Capital Markets CEO Germany and Managing Director, Lincoln International Christoph Brandenberger is a Managing Director in the Chi- Michael Drill provides overall strategic and operational leader- cago office of Healthios Capital Markets, which offers stra- ship for the activities of Lincoln International, a global invest- tegic advisory and investment banking services to emerging ment bank, in German speaking countries.