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    Tableau Comparatif de Courts Asia

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    L'express Maurice
    Hillbrow (Mauritius) Limited offered to purchase the assets of Iframac for MUR 1.7 billion, excluding stock. They would retain 80% of existing employees but did not offer additional compensation or the ability to submit a revised bid. Mammouth (Mauritius) Ltd offered MUR 1.4 billion for the assets and stock, and pledged to retain 85% of employees, offer MUR 26 million in additional compensation, and allow the opportunity to submit a revised bid. Both bidders indicated they would continue dealing with local suppliers, but only Mammouth offered funding to compensate suppliers and allow for shorter payment terms. Mammouth also outlined specific growth plans involving employee training,

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    Tableau Comparatif de Courts Asia

    Uploaded by

    L'express Maurice
    3K views4 pages
    Hillbrow (Mauritius) Limited offered to purchase the assets of Iframac for MUR 1.7 billion, excluding stock. They would retain 80% of existing employees but did not offer additional compensation or the ability to submit a revised bid. Mammouth (Mauritius) Ltd offered MUR 1.4 billion for the assets and stock, and pledged to retain 85% of employees, offer MUR 26 million in additional compensation, and allow the opportunity to submit a revised bid. Both bidders indicated they would continue dealing with local suppliers, but only Mammouth offered funding to compensate suppliers and allow for shorter payment terms. Mammouth also outlined specific growth plans involving employee training,

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    Tableau comparatif de Courts Asia

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    Tableau comparatif de Courts Asia

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    Hillbrow (Mauritius) Limited offered to purchase the assets of Iframac for MUR 1.7 billion, excluding stock. They would retain 80% of existing employees but did not offer additional compensation or the ability to submit a revised bid. Mammouth (Mauritius) Ltd offered MUR 1.4 billion for the assets and stock, and pledged to retain 85% of employees, offer MUR 26 million in additional compensation, and allow the opportunity to submit a revised bid. Both bidders indicated they would continue dealing with local suppliers, but only Mammouth offered funding to compensate suppliers and allow for shorter payment terms. Mammouth also outlined specific growth plans involving employee training,

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    3K views4 pages

    Tableau Comparatif de Courts Asia

    Uploaded by

    L'express Maurice
    Hillbrow (Mauritius) Limited offered to purchase the assets of Iframac for MUR 1.7 billion, excluding stock. They would retain 80% of existing employees but did not offer additional compensation or the ability to submit a revised bid. Mammouth (Mauritius) Ltd offered MUR 1.4 billion for the assets and stock, and pledged to retain 85% of employees, offer MUR 26 million in additional compensation, and allow the opportunity to submit a revised bid. Both bidders indicated they would continue dealing with local suppliers, but only Mammouth offered funding to compensate suppliers and allow for shorter payment terms. Mammouth also outlined specific growth plans involving employee training,

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    © All Rights Reserved
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    of 4

    1.

    Integrity of the process


    Hillbrow (Mauritius) Limited

    Mammouth
    (Mauritius) Ltd

    Security deposit

    USD 1.2 million

    NIL

    Opportunity to submit a NO

    YES

    revised bid
    Government

    and NO

    YES

    Regulatory Support

    2.

    Commercial Bid

    2.1 Purchase Price


    Purchase of Assets

    MUR 282 million


    Excluding stock, unsecuritised

    & -

    securitised HP book
    Stocks

    See formula below


    -

    Unsecuritised HP Book

    Based on the gross debtor amount as at 1 July 15 and historical bad debts rate
    provided
    amount

    by

    PwC,

    expected

    recovered for Iframac

    is

    MUR 185M
    Securitised HP Book with Based on the gross debtor as at 1 July Not disclosed
    Bramer Bank

    15 and historical bad debts rate


    provided

    by

    PwC,

    expected

    amount recovered for Iframac MUR


    1,235M

    Total

    MUR 1,702M -+to add value of stock MUR


    under formula below

    3.

    360M

    inclusive of stock

    Stocks

    Formula to calculate stock.

    Consideration for Percentage

    Amount would have been

    the Trading Stock (%) of Book

    determined at the time of

    Age

    Value

    Included

    in

    the

    Purchase Price

    inventory.
    Less

    than

    6 75

    months
    6 12 months

    50

    12 18 months

    25

    18 24 months

    20

    More

    than

    24 0

    months
    Display stocks

    4.
    4.1

    10

    Social Considerations
    Recruitments

    Low income staff representing 71% of the 100%

    80%

    workforce
    Higher

    income

    staff

    (including

    Senior At least 50%

    Employed

    Managers and Executives) representing 29%

    Mammouth

    of the workforce.

    (Mauritius) Ltd

    Total Recruitments

    85%

    80%

    by

    4.2

    Compensation

    Proposal prior to discussions with government Over


    and regulatory authorities.

    and

    above

    the Continuity

    commercial bid, a sum of service

    after

    MUR 26M dedicated to opportunity


    make

    for

    continuity

    of

    to

    of submit a revise bid

    service
    Opportunity to discuss with government and No

    Yes

    regulatory authorities

    5.

    Suppliers

    Dealing with Local Suppliers

    Indicated

    intention

    to Indicated intention

    continue dealing with local to deal with local


    suppliers

    suppliers

    Opportunity to trade on No

    consideration

    shorter payment terms and with


    build

    an

    exchange

    for funding MUR 44M

    supplier discounts, injecting to


    cash

    into

    the

    government

    compensate

    supplier suppliers. This is

    community as early as July coming


    2015

    6.

    taxpayers.

    Strategy for Growth

    Prospective Development

    (a) Employees Welfare and None


    Training
    (b) Business

    Expansion

    and

    of

    creation

    Megastore, with first


    rights of employment to
    existing employees

    from

    Injection of additional working capital over the Plans to inject funds to Capital
    within the next four years

    recapitalise the business unknown


    with MUR 498M within 1.5
    years

    and

    refurbishment

    store
    plans

    of

    MUR 74M in the next 4


    years

    plans

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