Autorenprofil
A couple of weeks have passed since Anirudh Kudavelly and I; Alexander Jahn took part in the Solvay Business Games 2025. After a packed exam week and some time to reflect, we wanted to share our experiences, both the lessons we took home and the moments that stood out. What unfolded in Brussels was far more than just a competition; it was a deep dive into the real-world application of our academic knowledge, challenging us to think, act, and negotiate like professionals.
As Master of Finance students at Frankfurt School, we are naturally familiar with topics like valuation, financial modelling, and M&A dynamics from an academic perspective. However, applying these concepts in a high-pressure, fast-paced negotiation setting was an entirely different story. The BDO M&A challenge at the Solvay Business Games gave us the unique chance to move beyond theory and put our knowledge into action in a realistic and competitive environment.
The challenge started with an initial set of information about a potential acquisition target. Working in a team of four, our first task was to align our strategy, assign roles, and leverage each other’s strengths in both quantitative modelling and qualitative assessment. Establishing a strong structure and internal communication flow early on proved to be critical, as the case continued to evolve with the constant influx of new data points and context that required swift recalibrations of our approach.
Once the preparation phase was over, the moment of truth arrived: the negotiation round with the opposing sell-side team. Here, the simulation became truly dynamic. Unlike in a typical classroom case, neither side had complete information, and we quickly realized that understanding the sentiment and strategic position of our counterparts was just as important as presenting a solid valuation. Time pressure added to another layer of intensity, pushing us to make decisions quickly while still staying tactically sound.
What stood out most during this phase, and what we will carry with us going forward, was the realization that a successful deal is not just the result of superior financial acumen. While strong valuation skills certainly help, it is the human aspect of negotiation that can truly make the difference. Empathy, active listening, and rhetorical finesse proved to be key in reaching a mutually acceptable outcome. Recognizing and addressing the concerns and motivations of the other side allowed us to build trust and ultimately arrive at a deal that was both strategically and relationally sound.
And to be honest we were working on the financial model and therefore our bidding price, even during the negotiations whilst our teammates bought us some time through in-depth questions, that essentially carved out hidden information. It was truly the most stressful fun you can get.
One of the most valuable challenges we faced at the Solvay Business Game was the CACEIS Strategy Challenge, where we were asked to create a business plan to launch Le Village by CA—a Crédit Agricole-backed startup incubator—in Belgium. The brief was comprehensive: outline a revenue model, define the ecosystem strategy, identify local opportunities for innovation, and align the project with broader sustainability and ESG goals.
For us, this was unfamiliar terrain. As finance students, we’re used to working with established models and assessing companies from the outside. This challenge flipped that perspective. We had to think like operators—deciding not just how a business should function, but why it would be relevant, and how to make it viable from day one.
The process was intense and fast-paced. Working with teammates from different academic backgrounds across Europe exposed us to approaches we wouldn’t typically encounter. Where we might focus on feasibility and financial structure, others pushed us to consider branding, user engagement, and long-term ecosystem value. It forced us to ask better questions—about market assumptions, about stakeholder alignment, and about how to pitch an idea that balanced innovation with realism.
What we took away from the challenge was not just a better understanding of business model design, but also an appreciation for the broader toolkit needed in real-world strategy work. We had to be clear, collaborative, and pragmatic. It taught us how finance can play a foundational role in building something from scratch, but also how essential it is to move beyond the numbers and engage with business from a more holistic angle.
Participating in the Solvay Business Games was more than just an academic challenge. It was a real-world test of teamwork, adaptability, and interpersonal skill. For both Anirudh and me, it was a memorable experience that has not only deepened our understanding of M&A processes, but also broadened our perspective on what it takes to be effective in high-stakes financial decision-making. We are grateful for the opportunity and are confident that the lessons learned in Brussels will accompany us throughout our professional journeys.
Co-author
Alexander Jahn
Master of Finance, Class of 2026
Alex is studying for a Master of Finance and has a Bachelor’s degree in economics. He has worked in consulting and is founder of ALL LCA. Furthermore, he is active at FS Entrepreneurship and InnoCom as well as FS Coding.
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