Every business opportunity in the global economy is being reassessed. Listed companies go through this process in the spotlight of the public markets where equity value has dropped in value on average by more than 50% since the start of the recession. Divisions within these companies have likewise diminished in intrinsic value. More importantly, they may be distracting the more critical business units from their focus, and holding the consolidated company back from its potential.

Divestitures can help create shareholder value, and although valuations are down, the market is very receptive to these transactions. How, then, to execute? The following 10 points are culled from over ten years of transaction experience:

1) Think backwards from a press release that explains why the divestiture makes strategic sense. Formulate a clear and compelling strategy and articulate that strategy in every communication.

2) Restructure the business before you sell it. Don't expect the buyer to pay for employees that aren't necessary for running it.

3) Contain the process to the division being sold. Don't let the bankers or the media paint the entire company with the same brush. This takes care of itself if your strategy is clear and focused.