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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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SAP: The Challenge of Aligning Sourcing and Innovation Strategies
Bent Petersen; Dominique Nikerle-Uhthoff; Helen SchwaerzlerCase IVEY-9B14M101-EEntrepreneurship, StrategyIn late 2011, SAP, the German leader in the enterprise software industry, announced a major investment plan for expanding in China and also acquired a leading American firm in cloud-based human capital management software. At first glance, these investments seemed rather unconnected. A closer look at SAP’s strategy, however, revealed a closely connected and coordinated network of strategic decisions and investments for which alignment and finding...Starting at €8.20