Publication year: 2006
: 978-3-8350-9363-8
The total volume of equity carve-outs (i.e. IPOs of subsidiary firms) in Europe over the last 20 years amounts to approx. € 90 billion. Carve-outs thus account for almost 20% of the total IPO volume. Companies use them for a variety of reasons aimed at increasing shareholder value. Nevertheless, not all carve-outs actually do create value.
: Business and Economics, Capital Markets, Corporate restructuring, Event study, Long-term perfomance study, Subsidiary IPO