NDBIB successfully finalises Mobitel’s e-Channelling buyout
View(s):NDB Investment Bank (NDBIB) successfully closed its advisory role in Mobitel (Pvt) Ltd recent acquisition of e-Channelling PLC.
“NDBIB takes pride in having partnered Mobitel in its maiden acquisition and supporting the latter as it ventures in to value added services, particularly in the fast growing e-health space,’ the bank said in a media release.
The controlling shareholder of e-Channelling, Senior Marketing System Asia Pte Ltd (SMSA), an entity based in Japan is one of the largest providers of healthcare information infrastructure in the region. SMSA entered into a Share Sale and Purchase Agreement undertaking to divest the entirety of its shareholding in e-Channelling amounting to 87.6 per cent to Mobitel via the said Voluntary Offer. The Voluntary Offer was selected as the acquisition mechanism to cater to the needs of both Mobitel and SMSA whilst avoiding any negative impacts on the transaction arising from market volatilities, it said.
“This transaction comes after the Hela Clothing and Foundation Garments deal where NDBIB was involved in originating and conceptualising the entire transaction starting from connecting the two parties and highlighting the merits of a merger right up to deal structuring, negotiations and successful execution,” the release said.
NDBIB’s involvement in the e-Channelling transaction began when the idea of acquiring the target was still at its infancy and NDBIB was requested to carry out a valuation exploring multiple scenarios on the value creation to the investor. NDBIB also advised and assisted the client in identifying suitable external consultants to carry out legal, financial and tax due diligence whilst helping to structure the due diligence in a focused manner to address the key risks to the investor. Subsequently, the acquisition mechanism was decided in consultation with the legal advisors to the transaction, whist NDBIB continued to provide additional services by liaising with external consultants carrying out due diligence and managing the Voluntary Offer process.