Analysis on the bolt-on acquisitions as an opportunity for the fragmentation in the Italian water industry

Gilardi, Annalisa (A.A. 2022/2023) Analysis on the bolt-on acquisitions as an opportunity for the fragmentation in the Italian water industry. Tesi di Laurea in Advanced corporate finance, Luiss Guido Carli, relatore Pierluigi Murro, pp. 90. [Master's Degree Thesis]

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Abstract/Index

M&A overview. Definition and reasons behind M&A transactions: synergies and costs. Comparative approach of M&A practices, focus on bolt-on acquisitions: how do they create value? Evolution overview and key drivers. Why is the Italian water sector relevant and peculiar: 3 main issues that characterize the Italian situation. Limited investments are linked to a still very fragmented structure of the sector: 87.5% of companies are small. Among the oldest infrastructure in Europe and therefore causing above mean water losses during the water distribution phase and among the lowest water tariffs. First country in Europe for extreme water stress extension (the ratio of total water withdrawals to surface and groundwater availability). An empirical study to demonstrate the fragmentation and the above-mentioned Italian issues in the sector that make the propensity to invest increasingly difficult. A macro-level analysis on the key fragmentation data and comparison with Germany and Norway. A micro-level focus on the fragmentation indicators by regions, the propensity to generate revenues from investments. Ireti and Sorical business cases analysis.

References

Bibliografia: pp. 89-90.

Thesis Type: Master's Degree Thesis
Institution: Luiss Guido Carli
Degree Program: Master's Degree Programs > Master's Degree program in Corporate Finance, English language (LM-77)
Chair: Advanced corporate finance
Thesis Supervisor: Murro, Pierluigi
Thesis Co-Supervisor: Vulpiani, Marco
Academic Year: 2022/2023
Session: Autumn
Deposited by: Alessandro Perfetti
Date Deposited: 06 Jun 2024 14:32
Last Modified: 06 Jun 2024 14:32
URI: https://tesi.luiss.it/id/eprint/38769

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