Framework Agreement on Financial Advisory Services.
The Danish state, repesented by the Ministry of Finance | Published June 16, 2015
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The state has full or partial ownership in a number of companies and businesses, etc. Add to this a number of state institutions within the public budgetary system which have activities with business-like characteristics.
Analyses within the area of companies will in a number of cases require external consulting assistance in the form of advice regarding financial issues.
The Contracting Authority wants to enter into a framework agreement regarding provision of financial advice within each of the 3 lots mentioned below:
— Lot 1: Corporatizations, etc.
In connection with deliberations regarding a corporatization (i.e. transforming a government entity into e.g. an Independent Public Enterprise or a limited company), or the sale of a government entity's assets in the form of an asset sale, there will be a need for prior analyses of the entity's business case, as well as of its assets and liabilities.
The part agreement includes analyses of a government entity's business case as well as valuation of assets and liabilities. This kind of analysis will typically form the basis for the establishment of the opening balance sheet of a new company, including the establishment of an appropriate capital structure.
— Lot 2: Owner decisions regarding specific transactions in state-owned companies.
As part of its execution of ownership in state-owned companies, the state sometimes needs to consider certain specific transactions by a state-owned company, either because there is a formal requirement for the state's approval, or because the state's approval is required by the state's ownership policy.
Firstly, this applies to the extent that state-owned companies are considering significant transactions, including investments, acquisitions, divestments, etc., which are not within the company's current strategy.
Secondly, this applies to specific proposals for changes to the capital structure of state-owned enterprises, including capital increases as well as capital reductions.
The part agreement covers analyses of the financial and strategic implications for the state as an owner of such specific transactions.
— Lot 3: Ongoing monitoring and deliberations by the state.
When executing ownership regarding a state-owned company, the state must be able to make qualified assessments of the enterprise's strategic direction, objectives and performance. As part of its ownership execution, the state might also consider the possibility of selling all or part(s) of a company.
The part agreement covers analyses of, for example, the conditions, strategic direction and objectives for the company's development, including the return on capital, capital structure and cost-efficiency of the enterprise. In addition, the part agreement covers analyses of the companies' framework conditions, business and strategy, as part of the preparations prior to a potential decision to divest all or part of a company.
The Framework Agreement can be used by the Danish state. When state authorities which are not the Ministry of Finance want to use the Framework agreement, the authority in question shall apply to the Ministry of Finance which shall approve such use.