Global Financial Services Company – Deal Structuring. Water Street advised a leading post-trade services company on the strategy and execution of a shared utility designed to manage a set of non-core back-office activities for its bank clients. Water Street co-led the transaction workstream with the client: drafted and refined the term sheet, prepared the negotiating strategy, tactics, and materials, conducted analyses and benchmarking on specific deal issues and terms (e.g., exclusivity, capital structure, buyout triggers and provisions, valuation of intangible assets, governance), and managed the overall transaction process.
Middle Eastern Investment Bank – Deal Structuring. Water Street advised a Middle Eastern investment bank on a JV with a global financial services player designed to serve the local market. Brought in toward the end of negotiations, when key terms including scope, contributions, and ownership had been tentatively agreed, Water Street reviewed the terms sheet prior to signing, to provide an independent view on the proposed JV, to compare it to other JVs and our “best practices”, and to recommend tactics to sidestep potential deal pitfalls.
Banking Joint Venture – Board Effectiveness Assessment. Water Street supported a 50:50 cross-border banking JV between a global bank and a local retailer to benchmark Board effectiveness and overall governance health, and to support new Directors in their onboarding programs. Revisiting an assessment that we had conducted two years prior, our objective was to both institutionalize what had worked well in the past, and assess if there were new areas to improve upon going forward. The work culminated in a facilitated discussion, in which Water Street presented a synthesis of the Directors’ and Officers’ views, while reinforcing and challenging elements of those views based on our experience and best practices.
Global payments company – JV Board Director training. Water Street developed and delivered a half-day training program for ten Board Directors serving on four JVs across certain EMEA markets. Topics included: principles of good JV governance, managing conflicts of interest, and results from Water Street’s JV Board Director Effectiveness self-assessment.
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Water Street Partners, an Ankura Consulting Company is not associated or affiliated in any way with Water Street Healthcare Partners, LLC, which is a wholly separate entity.