Successfully divesting a portion of an existing business requires an effective strategy, comprehensive planning, and well-coordinated execution. CrossCountry partners with our clients to ensure all activities associated with divesting a business are appropriately defined and implemented. We support our clients through defining a divestiture strategy, developing a detailed project plan across work-streams, and executing the plan during pre- and post-transaction closing. We ensure our clients have the proper tools and resources to align business objectives through divesting and successfully transition to focus on the core market offerings of the organization.
How Can CrossCountry Help?
- Document current processes and technology infrastructure; inventory of relevant or impacted bank accounts; gather human resources requirements for post spin-off; capture investor relations support materials
- Evaluate operational, system and process readiness; coordinate with external auditors and internal stakeholders to capture required activities and documentation
- Create system cut-over plans (including banking systems); develop audit plans for testing; document institutional knowledge
- Implement and produce carve-out financial statements as well as other required financial reporting; establish zero balancing cash pooling structures; create separated Investor Relations support materials; and identify and drive efficiency post divestiture through recommended process and technology improvement initiatives
- Design the divestiture project management support from upfront strategy and planning through separation cutover; plan and manage the implementation of policy, process and system changes required for organizations to operate independently