Menedžerski odkupi podjetij

(magistrsko diplomsko delo)

Luka Ržek (Author), Gregor Dugar (Mentor)

Abstract

Menedžerski odkupi podjetij, ki so se razvili v Združenih državah Amerike in se kasneje uveljavili tudi v evropskem prostoru, so sestavljeni iz različnih pravnih institutov in finančnih operacij. V slovenski pravni ureditvi niso urejeni celostno prav zaradi svoje kompleksnosti, zato je pri njihovi analizi potrebno preučiti vsak posamezni institut v postopku odkupa posebej. Pri razvoju posameznih institutov, ki predstavljajo del menedžerskega odkupa, so imeli v Sloveniji pomembno vlogo medijsko odmevni primeri odkupov, na katere se je (včasih neposrečeno) z zamudo odzval zakonodajalec. Magistrsko delo najprej obravnava sam pojem menedžerskih odkupov podjetij, njihov zgodovinski razvoj in razloge za tovrstne odkupe podjetij. V nadaljevanju magistrskega dela je prikazan menedžerski odkup po fazah, pri čemer se loči faza pridobivanja sredstev za menedžerski odkup podjetja in faza poplačila dolga za izvedbo menedžerskega odkupa. Ker gre pri menedžerskih odkupih za specifično situacijo, v kateri vodstvo družbe nastopa kot prodajalec in kupec, magistrsko delo nadalje obarvava problematiko konflikta interesov, asimetrije informacij in z njima povezano morebitno zlorabo notranjih informacij. V zadnjem delu sledi še finančna asistenca družbe tarče, ki je bila v povezavi z menedžerskimi odkupi podjetij v Sloveniji izpostavljena kot glavna problematika takšnih odkupov podjetij. Nazadnje je predstavljena še problematika varstva upnikov iz vidika menedžerskih odkupov podjetij, saj so običajno upniki prevzete družbe tisti, ki nosijo breme nepravilno in nezakonito izvedenih menedžerskih prevzemov.

Keywords

menedžerski odkup podjetja;prevzemi;financiranje odkupov;pripojitev družb;konflikt interesov;asimetrija informacij;trgovanje na podlagi notranjih informacij;finančna asistenca;varstvo upnikov pri združitvah;magistrske diplomske naloge;

Data

Language:	Slovenian
Year of publishing:	2020
Typology:	2.09 - Master's Thesis
Organization:	UL PF - Faculty of Law
Publisher:	[L. Ržek]
UDC:	347.7(043.2)
COBISS:	17136721
Views:	50
Downloads:	0
Average score:	0 (0 votes)
Metadata:

Other data

Secondary language:	English
Secondary title:	Management buy-outs
Secondary abstract:	Management buy-outs, which were developed in the United states of America and were later established in the European environment, consist of various legal institutes and financial operations. Under Slovenian legal regime, MBOs are not fully regulated precisely because of its complexity. When analysing MBOs, it is therefore necessary to examine each institute in the buying-out process separately. High-profile cases had significant role during the development of the individual institute of MBO in Slovenia and were the reason for late (and sometimes failed) response of our legislator. This master thesis firstly examines the term of MBO itself, its historical evolution and the reasons for such buy-outs. The following part of this master thesis shows the MBO by stages, separating the phase of obtaining the funds for buy-out of the company and the phase of repayment of the debt that was obtained for a purpose of the buy-out. Since MBOs create a specific situation in which the management acts as a buyer and a seller, this master thesis further focuses on the issue of the conflict of interest, information asymmetry and related potential misuse of inside information. The final part of this master thesis addresses the issue of the financial assistance of a target company which was highlighted as the main issue of MBOs in Slovenia. Lastly, the issue of protection of creditors is presented from the viewpoint of MBOs, since the creditors of the acquired company can carry the burden of inaccurate and unlawful MBO.
Secondary keywords:	management buy-out;takeovers;financing of buy-outs;merger of companies;conflict of interest;information asymmetry;insider trading;financial assistance;creditor protection in mergers;
Type (COBISS):	Master's thesis/paper
Study programme:	0
Embargo end date (OpenAIRE):	1970-01-01
Thesis comment:	Univ. v Ljubljani, Pravna fak.
Pages:	44 f.
ID:	11398740