Stanford Graduate School of Business (USA)
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Restructuring a Utility: RWE's Carve-out of innogy
Reichelstein, S; Comello, S; Bebb, DCase SGSB-SM278-EStrategyIn 2016, the German utility RWE undertook a carve-out in which substantial parts of the company’s assets and liabilities were offered to the general public as part of an IPO. The case describes the developments in the German energy landscape that led RWE to this unusual move. The case also examines how investors responded to this carve-out in terms of the valuations attached to RWE and the new subsidiary.Starting at €8.20
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Cofounders Equity Split Vignettes
Peter; Ziebelman, Matthew; SaucedoCase SGSB-E578-EEntrepreneurshipSplitting equity amongst cofounders is never an easy process. For the entrepreneurs, equity can sometimes be a measure of one’s value to a company, which can turn discussions over how to split it amongst the cofounding team into very personal and heated dStarting at €8.20