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Weakened negotiating position
Communications objectives
Positioning the sale item
Country-specific press content
Positive perception of the transaction in all markets
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A German holding company was planning to sell its group subsidiary in the food and drink sector. Media and analyst reports on the possible sale were linked to accounts of a dispute between the family owners, and this was seriously affecting the holding company's negotiating position. CNC was brought in to advise the holding company on the transaction and to optimally position the subsidiary during this critical phase.
CNC set out communications objectives for the entire transaction process. To begin with, it was important to foreground the shared negotiating position rather than allowing the dispute to dominate. During a lengthy bidding process involving several international investors, CNC facilitated the achievement of a wholly positive public perception of the subsidiary, mainly by means of careful background briefing. When a buyer from the UK was selected, objectives were developed for press content in Germany and the UK in order to promote consensus for the takeover conditions on both sides. CNC also provided advice in developing the takeover conditions and coordinated communications during the transaction.
CNC's approach achieved an excellent perception of the subsidiary throughout the process. The sale to the UK investor was successfully completed. CNC was able to communicate the positioning of the purchase price in such a way that the capital-raising exercise went without a hitch and the share price grew.
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