Sector of activity: Tourism/Hotels
- Plan by two investment funds which are shareholders of the target (20% stake between them) to become the majority shareholder in unison
- The target being listed on the Paris Stock Exchange, the proposed acquisition took the form of a takeover bid
Our mission was structured in three phases over a period of approximately 9 months.
- Identification of key points on the basis of analysis of publicly available information (reference document and presentations to analysts)
- Issuance of a preliminary report which enabled our client’s investment committee to take the decision to continue the operation
- In-depth analysis of due diligence subjects on the basis of detailed information (particularly sales, earnings and key indicators per site and per zone)
- Analysis of recent earnings (current trading)
- Support for our client in dealings with banks during the financing process as well as syndication of equity
- Input which helped trigger the takeover bid, while ensuring a high degree of confidentiality.
Key success factors
- Familiarity with the sector
- Ability to support our customers on a lengthy project (9 months) with “stop and go” phases of varying intensity while protecting confidentiality
- Constructive interaction and a relationship of trust with the target’s management
- Extensive business expertise concerning acquisition due diligence, particularly in the context of a takeover process