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Save time and cut costs in cross-border deals with a virtual data room

 18 June 2018

Save time and cut costs in cross-border deals with a virtual data room

Optimize time, improve deal efficiency and cut costs and risks. There are multiple advantages in using Multipartner’s flexible and dynamic Virtual Data Room in complex cross-border deals, guaranteeing maximum security levels and reducing cultural and linguistic differences, as shown by the recent Enel deals in Latin America.

You are Enel’s VDR provider since several years, how is Multipartner supporting the group in its operations?

Giancarlo-Piciarelli-CEO-MultipartnerWe are indeed Enel’s official VDR provider worldwide and are managing all sell-side operations in renewable energy in Latin America, mainly in Argentina, Chile and Mexico. For example, the transactions with Enel Green Power Argentina are being managed between Italy, Spain and Argentina. Our VDR and our client support are key elements, as well as security, speed and availability, highly appreciated by our client.

I imagine that these operations include big volumes of highly confidential documents.

Absolutely, and in these operations time is key, which is why we commit to setting up the VDR in very little time. Usually, in less than 24 hours the VDR is operational and users are duly registered. We restrict access only to authorized parties with very high levels of security and protection, defining granular permission settings. Access can also be restricted for a limited time range. Clients ask for a multilingual and easy to use platform. Sometimes, clients are initially concerned, but then after using our VDR, they realize how easy, dynamic and intuitive it is, and how it continuously adapts to the deal. At some point of the deal, we have to be ready to open certain sections of the documentation to certain users and restrict access to others, providing a selective and differentiated access. Once the deal is closed, Multipartner certifies all activities carried out within the platform, and later destroys all client data on the servers.

Are these requirements common in cross-border operations?

Our experience as advisors tells us that these requirements are common and often requested. By certifying and documenting all activities carried out in the VDR and then destroying all information, we guarantee total transparency. For us, security and control are our maximum priorities. Our VDR isn’t a panacea that will solve all problems that may occur in cross-border operations, but they are substantially reduced, as are time and costs, and potential risks and cultural and linguistic differences are mitigated We have met clients who used to use for their own cross-border transactions, the most popular consumer tools for data sharing, even if they are generally considered as rather insufficient from the point of view of control and data protection. Only after having had unpleasant experiences, perhaps losing the opportunity to close the negotiation, they decided to entrust Multipartner to manage their operations. Confidential corporate data should never be stored and shared using potentially unsecure tools.

How does a VDR optimize and reduce the duration and costs of cross-border transactions?

A due diligence in an M&A operation usually lasts six months, whereas with a VDR it can be reduced up to 60 days. In addition, costs are drastically cut. Physical Data Rooms imply travel, document printing, time. With a Virtual Data Room travels are reduced to a minimum because personal contact is necessary, however documents are stored and shared in a virtual and secure platform and available at all times, with no need to travel.

In which regions has your activity grown the most?

We are very active in Latin America, working greatly with Mexico and Chile, especially in renewable energy projects. In Europe, we work significantly with France, Italy, Germany, United Kingdom and Luxembourg: in Luxembourg, we are supporting an important number of private equity funds with their real estate investments. In Spain, we are very active in Madrid, Valencia, Basque Country and Catalonia, where we have noticed a decrease in M&A investments, but there is a significant activity in the biotech sector from behalf of foreign investors.

“We are supporting clients such as Enel in their renewable energy sell-side operations in Latin America”

Giancarlo Piciarelli, Multipartner CEO

By Capital & Corporate

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