JV Financial Terms – When dilutive capital calls mix with earn-in structures
Issues and options to consider when a dilutive capital call occurs before an owner has earned its future ownership milestones.
David Ernst is a Senior Advisor at Ankura with more than 35 years of experience advising on strategy, transactions, restructuring, and governance matters. David is recognized as a global expert in the field of joint ventures. He has advised dealmakers and senior client executives across a range of industries, including oil and gas, chemicals, metals and mining, semiconductors, consumer goods, and health care. During his career, he has advised on more than 250 venture transactions in 33 countries, involving more than $300 billion in value, and has also served more than 100 existing joint ventures on governance and restructuring.
View Full ProfileIssues and options to consider when a dilutive capital call occurs before an owner has earned its future ownership milestones.
Exercising influence as a non-operating partner – not by the contract alone. Optimizing value and eliminating “partner drag”. This actually makes life better for the JV CEO and Partner.