Michael Salcher joined KPMG Corporate Finance in January 2000. Before joining KPMG Michael worked for Deutsche Bank AG (Corporate and Investment Banking). As an energy and valuation specialist he worked on multiple corporate finance assignments, focusing on business planning and valuations for transactions and accounting purposes.
He has spoken about valuation issues at various conferences and has published several articles. He is member of the IDW working group “Fairness Opinions” and has drafted the professional standard for Fairness Opinions (IDW S8) in Germany.
He focuses on the energy sector and is heading the energy valuation team in Germany. As such, he was responsible for many valuation projects in the energy sector, like:
- Performance of numerous company and asset valuations (different types of generation plants, e.g. oil, gas, coal, CCGT, hydro, wind, nuclear, biomass)
- Purchase price allocation opinions for acquisitions in the area of conventional generation and renewable energy, particularly valuation of plants, generation components, concessions for gas, oil and CCGT plants as well as windparks
- Financial modelling of generation projects and regulatory assets
- Valuation of power and gas networks, particularly major networks in Berlin and Hamburg
- Expert (second) opinion on costs of capital
- Fairness Opinions on the acquisition price for the acquisition of power plants and energy trading businesses
- Independent expert valuation opinions for tax motivated restructurings
- Second opinion on biomass activities
Private Investor Test for capital increases in the area of renewable energy projects.