Maurice Nussenbaum, Chairman of the APEI, chaired the APEI Symposium, which was held at the Peninsula Hotel on the theme: ‘How is independent expertise reshaping the landscape of public offerings?’.
The various speakers included Benoît de Juvigny (Secretary General of the AMF), Pierre-Henri Chappaz (Managing Partner at Rothschild & Cie), Alexandre Courbon (Managing Director, Head of M&A, Société Générale CIB), Olivier Fortesa (Managing Partner, Amber Capital), Hervé Pisani (solicitor, Managing Partner of the Paris office of Freshfields Bruckhaus Deringer LLP), Caroline Ruellan (Chair of SONJ Conseil, Chair of the Cercle des Administrateurs and director of ADAM) and Patrick Sayer (Chair of Augusta, Commercial Judge at the Paris Commercial Court, Member of the APEI Supervisory Board) were able to discuss various topics relating to independent valuation.
Topics discussed included the context and evolution over time of fairness opinions, the current organisation of independent expert assessments in France, the concept of a ‘fair price’ and the implications of the PACTE Act.
The APEI is a professional association recognised by the French Financial Markets Authority (AMF), which brings together the leading independent experts who issue fairness opinions.
The partners at Sorgem Evaluation – Maurice Nussenbaum, Claire Karsenti and Thomas Hachette – are members of the APEI. They are regularly called upon to assess the fairness of financial transactions – public offers, public withdrawal offers (OPR), public takeover bids (OPA), public exchange offers (OPE) and public share buy-back offers (OPRA).
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