Our modern and well-argued approach considers the defined value as the one that allows the meeting of supply and demand, of a buyer and a seller or the reconciliation of positions in situations of litigation or judicial dispute.

With an experienced, independent team recognized for its know-how to define the price of an asset or a company, we are regularly consulted in the context of transactions, regulated operations or to assess the fairness between the various stakeholders in specific transactions.
Concerning listed companies, we act as an independent expert in application of articles 261.4 and 262.1 of the AMF's general regulations aimed at informing the board of directors and shareholders during financial transactions: public share buyback tender offer or Delisting tender offer or squeeze-out, take over bid ...As a reminder, consultation is made mandatory by article 261.1 in the following cases :
  • The target company is already controlled by the offeror before the transaction is launched ;
  • The directors of the target company have reached an agreement with the bidder before the transaction ;
  • the shareholder does not tender his shares to a public buyback offer launched by the company for its own shares ; 
  • There are one or more transactions related to the bid that are likely to have an impact on the parity of the public bid ;
  • The bid relates to different financial instruments at prices that affect the equality between shareholders.

In this respect, we carry out the necessary fairness opinions in situations of conflicts of interest.


  • Fairness opinion and fair value
  • Independent valuation
  • Earn out calculation
  • Fair value and value creation
  • Valuation of tangible or intangible assets
  • Missed gain and/or loss incurred valuation


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