Bilancio di scissione

English translation: Demerger financial statements

10:29 Nov 28, 2006
Italian to English translations [PRO]
Bus/Financial - Accounting / financial statement
Italian term or phrase: Bilancio di scissione
actual title of the financial statement. That is, at the top of the page it says "Bilancio di Scissione al ...). I'm at a bit of a loss, I've tried looking for "spin off" and "division" but nothing seem to be quite right. I would be very grateful if anyone could help me!
Thank you :)
Giuliana d'Orazi Flavoni
Italy
Local time: 05:09
English translation:Demerger financial statements
Explanation:
Commonly used for sales of divisions in UK eg www.gallaher-group.com/ir/publications/1997_report/corp_gov... - 13k and
www.ici.com/ici-ir/ordinaryshare/ordinaryglossary.htm
Selected response from:

Jean Martin
Local time: 04:09
Grading comment
Thank you very much!!
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +3Demerger financial statements
Jean Martin
5Completion accounts
DCypher (X)
3Financial Statements reflecting the spin-off
Ivana UK


Discussion entries: 1





  

Answers


22 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
Demerger financial statements


Explanation:
Commonly used for sales of divisions in UK eg www.gallaher-group.com/ir/publications/1997_report/corp_gov... - 13k and
www.ici.com/ici-ir/ordinaryshare/ordinaryglossary.htm

Jean Martin
Local time: 04:09
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 167
Grading comment
Thank you very much!!
Notes to answerer
Asker: Hmm... I've found demerger balance sheet mentioned quite a few times on the internet, could it possibly be that do you think?


Peer comments on this answer (and responses from the answerer)
agree  Ivana UK: much better!!!
0 min

agree  Peter Cox
1 hr

agree  Claire Restivo: Nice.
23 hrs
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17 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
Financial Statements reflecting the spin-off


Explanation:
Definitiely a bit wordy - hence the low confidence.

... Pro Forma Condensed Consolidated Financial Statements reflecting the spin-off are based ...

www.shareholder.com/visitors/activeedgardoc.cfm?f=pdf&id=46...

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Note added at 19 mins (2006-11-28 10:49:25 GMT)
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Although to be honest, I would be tempted to translate with the standard "Financial Statements" after all, details of the effects of the spin-off will be contained within.

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Note added at 22 mins (2006-11-28 10:52:13 GMT)
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... and now I'm wondering whether it's the "spin-off balance sheet", which would make more sense! What is the document - is it a balance sheet (tables)??

... Date of spin-off balance sheet is 31.3.2005 ...
www.ase.gr/content/en/announcements/dailypress/Daily_Announ...

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Note added at 5 hrs (2006-11-28 15:42:47 GMT)
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This would fit within the document itself but not as a heading or document title.

Ivana UK
United Kingdom
Local time: 04:09
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in ItalianItalian
PRO pts in category: 65
Notes to answerer
Asker: From what I can tell, it is sort of a "proforma" balance sheet for the part to be spun off... to give potential shareholders some idea of what the company looks like...

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4 hrs   confidence: Answerer confidence 5/5
Completion accounts


Explanation:
These would be the accounts reflecting the actual assets/net assets being transferred to purchaser at the time of completion of the sale/formation of the new entity. Ex below.

Case Study - TSO Tasks & Timeline
File Format: PDF/Adobe Acrobat
Audited Completion accounts at 31/3/99 (x4). audited by Ernst & Young and required as basis for make-good payments to ensure that post-demerger net assets ...
www.haddocks.com/pdfs/calendar_tso.PDF

The Vendors have warranted that the net assets of the MH Berlyn Group at completion will be equal to at least £500,000 (“the Minimum Net Assets”).
Completion accounts will be drawn up as at 30 June 2004 and will be prepared on a basis consistent with previous audited consolidated accounts of DJ Holdings to show the value of assets and liabilities to be acquired. If the completion accounts do not show a level equal to the Minimum Net Assets then the Vendors shall pay compensation to the Company,..."

extract from page 110
http://www.corporatebroking.brewin.co.uk/pdf/Eliza Tinsley.....


My answer would not apply, if you are talking about "proforma" financial statements for a division being sold (which previously would not have had its own financial statements) which are prepared to show what the divisions financial statements "would" look like if it had been a separate entity. These are usually prepared to show to potential purchasers (or shareholders who will receive the new shares) before the demerger takes place.



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Note added at 6 hrs (2006-11-28 16:48:40 GMT)
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Unfortunately? If you have the right answer, that is the best result.

So this is the pro-forma of a company BEFORE the sale/demerger takes place?

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Note added at 6 hrs (2006-11-28 16:54:13 GMT)
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If that is the case, then "Pro forma statements" for the demerged company is the term you are looking for...

"Set out in section 7.1 are the pro forma financial statements for New Aker Seafoods ... approve a merger or de-merger, to amend Aker Seafoods’ Articles of ..."

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Note added at 6 hrs (2006-11-28 17:13:25 GMT)
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http://www.akerasa.com/_files/aker_asa_prospekt.pdf

see Section 7 (page 48)

DCypher (X)
Local time: 05:09
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 246
Notes to answerer
Asker: Unfortunately, in this case it is a "proforma" financial statement for a division being sold.... thank you very much anyway! :)

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