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Task 2 - Process Letter Summary

This document provides an overview of the auction process for the sale of a company called HappyHour. It outlines three key phases: 1) An indicative bid phase from March 19th to April 13th where bidders can submit initial non-binding bids and ask questions. 2) A shortlisting process in late May to select the top bidders to progress to the final phase. 3) A final bid phase from late July where the shortlisted bidders will conduct additional due diligence, site visits, and management presentations before submitting legally binding final bids.

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Soham Aher
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© © All Rights Reserved
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Download as PPTX, PDF, TXT or read online on Scribd
122 views

Task 2 - Process Letter Summary

This document provides an overview of the auction process for the sale of a company called HappyHour. It outlines three key phases: 1) An indicative bid phase from March 19th to April 13th where bidders can submit initial non-binding bids and ask questions. 2) A shortlisting process in late May to select the top bidders to progress to the final phase. 3) A final bid phase from late July where the shortlisted bidders will conduct additional due diligence, site visits, and management presentations before submitting legally binding final bids.

Uploaded by

Soham Aher
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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CONFIDENTIAL

Overview of auction process and key workstreams

Date Event Key workstreams


Mar 19, 2020 Granted access to the Transaction information The Indicative Bid Documents have been prepared to enable Bidders to submit
memorandum, vendor due diligence reports and an indicative bid in respect of this Transaction (“Indicative Bid”) and will be
financial forecasts on a strictly no reliance basis. available via an online data room

After 9 am on Apr 9, 2020, and A question and answer process whereby Bidders will Responses to the questions submitted by the Bidders will be provided to all
Round 1: no later than Apr 13, 2020, at have the opportunity to submit a limited number of Bidders via the online data room. The source of each question will remain
Indicative Bid 5pm (HK Time) questions via the form outlined in Appendix I to the confidential.
Phase Financial Advisor.

Late May 2020 A shortlist of Bidders will be chosen to progress to


the Final Bid Phase (“Shortlisted Bidders”).

During this Final Bid Phase, Shortlisted Bidders will be provided with:
• Further access to the electronic data room populated with due diligence
materials;
• Guided site visits;
Round 2: Final
Bid Phase Late July 2020 In this phase, Shortlisted Bidders will be required to • Presentations from HappyHour’s management team;
submit full and legally binding bids (“Final Bid”). • An additional question and answer process; and
• Transaction implementation documentation.

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