Question One Treasury management in a large company owers several areas including funding management, liquidity management, currency management and corporate finance, Required: i Outline the benefits of having a separte centralized treasury department Describe areas covered by treasury 15 Marks 3 Marks Question Two Discuss the benefits and drawback to the shareholders of a company, of a public listing on a stock exchange compared to private equity finance as a way of disposing their shares. 10 Marks Discus circumstances in which a Management Buy-Out (MBO) might be an appropriate form of divestment from a business 10 Marks Explain the factors the venture capital fund is likely to consider er impose when financing the MBO 10 Marks Total (50 Marks) @