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Task 2-Target Information and Auction Process

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Saurabh Mirchandani
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16 views

Task 2-Target Information and Auction Process

Uploaded by

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

HappyHour Co. Company Profile

Overview Key financials


Name: HappyHour Co.
Revenue: US$1,071 million
Headquarters: Singapore EBITDA: US$300 million
Other Locations: Malaysia, China Net Profit After Tax (NPAT): US$193
Founded: 1975 by Ms. Happy million
EBITDA Margin: ~28%
Segments: Beer, Spirits, Non-alcoholic
Net Profit Margin: ~18%
beverages

Shareholders Indicative valuation


Family 1 (Happy Family): 60% Preliminary Valuation: US$3,500 million
Family 2 (Hour Family): 20% Valuation Metrics: EV/EBITDA multiple
Family 3 (Co Family): 20% of 10.0x - 11.5x

Source: Information from the company's website, a recent press article, and a broker report.

1
CONFIDENTIAL

Overview of auction process and key workstreams

Date Event Key workstreams

Access to Transaction Information


Memorandum
May 13, 2020 Submission of non-binding Vendor due diligence reports
Round 1:
Indicative Bid
indicative offers Financial forecasts (available via online
Phase
data room)
Limited Q&A (20 questions per bidder)

Detailed due diligence


Site visits
Round 2: Final
Bid Phase
Late May 2020 Submission of final binding Management presentations
(start), Late July offers Additional Q&A
2020 (submission Transaction implementation documentation
deadline)

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