The Central and Eastern Europe operations of a global brewing company were purchased by a financial sponsor in a carve-out transaction. Since treasury operations had previously been delivered by the parent and with the additional requirements that inevitably accrue from sponsor ownership, the business required a treasury operation to be established from scratch.
- Provide an experienced consultant to act as interim Treasurer;
- Set up daily cash balance reports (centrally consolidated), multi-currency cash forecasting framework and debt & compliance management models;
- Establish multi-currency notional cash pooling covering most of the functional currencies, and negotiated six ancillary facilities in the different jurisdictions;
- Create an FX hedging framework and developed the final treasury policy document;
- Assist with post transaction interest-rate hedging;
- Train a member of the finance team to assume day to day work and then transitioned responsibility to a new, permanent treasurer.
Results & Recommendations
We assisted management to develop a treasury function suitable for a multi-national, highly leveraged business.