Latest news with #corporateaffairs
Zawya
21-05-2025
- Business
- Zawya
Excellera enters the Middle East with the acquisition of Instinctif Partners MENA
The deal strengthens the international growth of the Group - a leader in corporate affairs, which now reaches $75 million in turnover, a team of more than 350 professionals, and a global network of 15 offices. Milano-Riyadh – Excellera Advisory Group ('Excellera'), Italy's leading corporate affairs advisory group, announces the acquisition of Instinctif Partners MENA, Instinctif Partners' Middle East operations throughout the region and in Arabic speaking North African countries, a leading strategic communications consultancy specializing in financial and corporate communications. The acquisition aligns with Excellera's growth strategy launched in 2022 with the strategic and financial support of Xenon Private Equity. It further consolidates the Group's position as a reference point in corporate affairs. Excellera today brings together some of the most prominent names in the sector: Barabino & Partners, Cattaneo Zanetto Pomposo & Co., Community, Excellera Intelligence, Public Affairs Advisors, and Value Relations. This deal will give Excellera a significant presence in the Middle East and Arabic speaking North African markets where Instinctif Partners MENA has been established for more than 12 years. The company will retain the same management team, led by founder CEO Samantha Bartel, and will operate under a new name, IP Excellera, marking the change in ownership of the company and Excellera's expanding footprint in one of the world's fastest-growing and most dynamic markets. With the addition of IP Excellera, the Group's total turnover will exceed $75 million, with a team of more than 350 professionals, further extending its international footprint. IP Excellera's offices in Riyadh, Abu Dhabi and Dubai will expand the Group's global network, which already includes locations in Bergamo, Berlin, Brussels, Genoa, London, Madrid, Milan, Munich, New York, Paris, Rome, and Treviso, bringing the total to 15 locations worldwide. IP Excellera is a market leading, integrated strategic advisory firm with offers across strategic communications, capital markets and investor relations, corporate reporting, and ESG & sustainability. Its team of 60 talented consultants are drawn from the world's leading financial, government and academic institutions offering clients best in class advice so they can navigate risk, reputation and change. The company represents clients in the public and private sectors and has a portfolio of more than 100 corporate clients with a combined market value of over $3 trillion. IP Excellera has achieved more than 20 per cent annual growth for the last 5 years, cementing its position as a leading advisory firm in the region and setting a strong basis for growth in partnership with Excellera. IP Excellera's integrated service offering is complementary to Excellera's strength in financial communications and its leading position in M&A in Europe, which will enable organic growth across the Group. Gianfranco Piras, Chairman of Excellera Advisory Group and Partner at Xenon Private Equity, said: " The acquisition of IP MENA marks a fundamental step in Excellera's growth journey, confirming the soundness of our investment strategy and the Group's ability to attract high-value companies in fast-growing markets. At Xenon Private Equity, we have believed from the very beginning in the creation of a strong, competitive Group capable of establishing itself as a leading player in the corporate affairs sector and serving as a platform for further aggregation. Entering the MENA region strengthens Excellera's platform and broadens its scope, laying the foundations for long-term growth." Paolo Zanetto, CEO of Excellera Advisory Group, commented: " This transaction is another important step in our international development strategy. In an increasingly interconnected world, the EMEA region has become a natural arena for those, like us, who provide strategic advice on complex and global issues. With this deal, we are enhancing our presence in a key market for global finance and business, integrating a highly skilled team led by Samantha Bartel. We are excited to embark on this new journey together." Samantha Bartel, CEO of IP Excellera, added: ' We are delighted to be joining Excellera Advisory Group for the next stage of our growth journey. It has been an amazing 12 years since we established in MENA and I'd like to thank all colleagues for their hard work and dedication and clients for their loyalty, who have made it so special over the years. We will continue to build our value proposition so we can consistently offer our clients the very best advice across strategic communications, capital markets and investor relations, corporate reporting, and ESG & sustainability and service our growing client roster even better.' Julian Walker, CEO of Instinctif Partners, said: 'Following today's sale, we will focus on our core business and in our core markets. On behalf of us all I thank Sam and her team for such consistently great work and send our very best wishes for their future as part of Excellera.' Legal advisors to Excellera Advisory Group were Pinsent Masons and Gatti Pavesi Bianchi Ludovici. Deloitte supported the deal with financial due diligence, while PwC advised on tax matters. Legal advisers to Instinctif Partners MENA were Simmons and Simmons, and Instinctif Partners were advised on the transaction by SI Global. More information Excellera Advisory Group: Giovanna Biscaro Instinctif Partners Group Julian Walker Instinctif Partners MENA: Samantha Bartel
South China Morning Post
08-05-2025
- Business
- South China Morning Post
Trump's policies under fire as more businesses blame US than China for trade war: report
The United States is facing greater reputational damage than China in the ongoing trade war, as many global business leaders point to the current US administration's policies as a principal cause driving the conflict, according to a recent survey. Advertisement A poll conducted by the Sandpiper Group in April, covering 3,050 business leaders across 27 markets, found that nearly three-quarters of respondents blame the White House's approach to trade for the escalating dispute. The policy consultancy firm also found that 72 per cent believe the US should take the first step to de-escalate, while 61 per cent said China should do so. Meanwhile, 70 per cent of respondents believe the trade war will diminish the US' global standing while 60 per cent said China's image will suffer, according to the survey's findings. 'It is worrying that so many global business leaders are reeling from the recent geopolitical upheavals, and that they fear significant increased risks to their businesses in the short, medium and long term,' said Simon Buckby, managing director of Sandpiper Government & Public Affairs. Advertisement 'It is even more shocking that so many admit they do not feel highly confident they have the tools in place to manage their way through. This is a huge challenge for leaders, and especially corporate affairs teams, to step up and protect their firms.'
Mint
01-05-2025
- Business
- Mint
Non-executive directors needn't get caught up in cases of corporate fraud
The Gensol-BluSmart crisis has drawn corporate fraud in India's startup ecosystem into the spotlight. It has sparked a debate over a 'fake it till you make it' culture and whether it's driven by sheer greed, naive optimism or intense pressure to keep the company's stock on an ever-rising curve. While the causes remain debatable, the consequences of corporate fraud follow a predictable path. Once discovered, law enforcement agencies and regulatory bodies spring into action. Probes are launched, notices are dispatched and litigation ensues. One may expect these proceedings to target executive directors, who are responsible for running the business and its affairs. But that is not the case. They invariably implicate all board members, including those who serve in non-executive roles, such as nominee directors appointed by private equity firms. This occurs despite the stark difference between the roles of executive and non-executive directors. The latter play a limited role on the board. They represent the shareholders that nominate them. As their involvement is usually restricted to attending board meetings, they often have no clue, let alone knowledge, of any fraud. Nonetheless, they find themselves arrayed with those accused of carrying out the fraud . Noticing this, the ministry of corporate affairs (MCA) came out with a circular dated 2 March 2020, drawing attention to a provision in the Companies Act of 2013. This provision limits the liability of non-executive directors to wrongful acts that occur with their knowledge (attributable through board processes), consent or connivance, or where they do not act diligently. In the light of this, the MCA required that the specified criteria be satisfied before non-executive directors are arrayed in any civil or criminal case under the Companies Act. The MCA also instructed registrars of companies (RoCs) to ensure that sufficient evidence exists of their involvement before proceeding against them. To comply with the law's mandate and avoid liability, non-executive directors can take preventive measures. First , it is crucial for them to demonstrate that they acted diligently. This involves dedicating adequate time and attention to the company's issues, especially those that may raise red flags. They must remain sceptical of management actions until they independently evaluate them. Rather than accepting rosy narratives or optimistic portrayals, they should pose incisive questions to discern the true picture of the company's operations. Second , non-executive directors must act decisively upon detecting signs of corporate wrongdoing by notifying management and insisting on prompt corrective action. Problems arise when, instead of confronting the management, they succumb to pressure, overlook fraudulent conduct in fear of repercussions or dismiss it as an isolated incident. Such responses are not prudent, and by the time this realization dawns, it is often too late. They risk being accused of negligence or wilful blindness, as they can be presumed to possess constructive knowledge. Non-executive directors must speak up if they detect signs of fraudulent activity, as their silence can be used against them. Third , non-executive directors must keep a record of any instances of having highlighted red flags. Should these concerns pertain to an issue being addressed through a board or shareholder resolution, they must ensure their dissent is noted and accurately recorded in the meeting minutes. Plus, any correspondence with management should be preserved as evidence. By taking these steps, non-executive directors can shield themselves from liability should a fraud be eventually uncovered. However, the reality is that they are only able to escape punishment, not the process. They still get caught in the crossfire between regulatory bodies and the fraud's perpetrators. These bodies may include the Securities and Exchange Board of India for listed companies and Reserve Bank of India for banks and financial institutions. Non-executive directors could also get embroiled in civil and criminal proceedings pursued by various agencies such as the local police, Enforcement Directorate and Serious Fraud Investigation Office. Even if the charges levelled against non-executive directors lack evidence or merit, they are forced to endure arduous and lengthy proceedings before they can be exonerated. This process can be extremely taxing; they incur litigation costs, face inconvenience, undergo stress and suffer reputational harm. They may even need to resign from their board positions in other companies, especially those which operate in tightly regulated sectors. This is because, in many such sectors, maintaining a 'fit and proper' status is essential for directors. At the end, the real question that needs to be answered is whether it is possible to shield non-executive directors from this ordeal without neglecting evidence that may point to their involvement. This is precisely what the MCA circular aims to address. By adopting a balanced approach, it sanctions the prosecution of non-executive directors only in cases where there is prima facie evidence of their participation. Rather than indiscriminately implicating all board members, it calls for an initial assessment before tagging them with executive directors. The need of the hour is for regulatory bodies and enforcement agencies to embrace the circular's intent and enforce it in letter and spirit. These are the authors' personal views. The authors are, respectively, head of the private equity and financial services regulatory practice; and member, private equity and M&A, at Nishith Desai Associates.
Time of India
30-04-2025
- Business
- Time of India
India's private capex likely grew by 66% from FY22 to FY25
Capital expenditure by private sector enterprises is expected to have grown by 66.3% to Rs 6.6 lakh crore in FY25 from Rs 3.9 lakh crore in FY22, according to a report released by the ministry of statistics and programme implementation ( MoSPI ) on Tuesday. #Pahalgam Terrorist Attack The groundwork before India mounts a strike at Pakistan India considers closing airspace to Pakistani carriers amid rising tensions Cold Start: India's answer to Pakistan's nuclear threats It is likely that private capex reached its highest level in FY25 between FY22 and FY26. In FY26, private capex is expected to reach Rs 4.9 lakh crore, registering a growth of 23.9% from FY22. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo 'The slightly lower intended capex for 2025-26, though still above 2023-24 levels, reflects cautious planning after a strong 2024-25,' the ministry said in a statement. The capex data is based on information provided by 2,172 enterprises for all five years. Live Events 'Overall, the trend indicates growing corporate confidence and a judicious approach to investment amid improving economic certainty,' said MoSPI. In FY24, the capex was Rs 4.2 lakh crore. The survey, conducted from November 2024 to January 2025, covered 5,380 active enterprises registered with the ministry of corporate affairs (MCA). It covered manufacturing enterprises with an annual turnover of Rs 400 crore and above, trade enterprises with an annual turnover of Rs 300 crore or more, and others with over Rs 100 crore turnover. Manufacturing is projected to have incurred the highest capital expenditure at 43.8%, followed by information and communication activities (15.6%) and transportation & storage (14%). Nearly half of private corporate sector enterprises undertook capital expenditure in FY25 for income generation, according to the Forward-Looking Survey on Private Sector CAPEX Investment Intentions. Another 30.1% directed their investments towards upgradation, while 2.8% on diversification. 'Despite challenges like weak demand, geopolitical tensions and high borrowing costs, about 30% of firms plan to invest in upgradation in 2024-25, supporting the sharp increase in capex for that year,' the ministry said. While Rs 102.7 crore capex was proposed by each enterprise in FY22, the actual expenditure was Rs 109.3 crore, leading to a realisation ratio of 106.4%. A similar trend was observed in FY23, with a ratio of 111.9%. However, in FY24, the ratio fell below 100% as Rs 107.6 crore was spent compared to Rs 107.9 crore planned. The average gross fixed asset per enterprise rose by 32.7% to Rs 4,183.3 crore in FY24 from Rs 3,151.9 crore in FY22. The next capex survey is likely to be conducted from October to December 2025, the ministry noted. Capital expenditure (in Rs lakh crore) 2021-22 3.95 2022-23 5.72 2023-24 4.22 2024-25 6.56 2025-26 4.89 Note: Figures for FY25 and FY26 are capex intentions by the private sector Share in projected capital expenditure (in 2024-25, in %) Manufacturing 43.8 Information and Communication activities 15.6 Transportation & Storage 14.0 Wholesale, retail trade and repair of motor vehicles and motorcycles 8.4 Arts, entertainment and recreation, other service activities 3.8 Note: Data for top five sectors Average gross fixed asset per enterprise (in Rs crore) 2021-22 3151.9 2022-23 3279.4 2023-24 4183.3 Source: MoSPI
