Our client is one of the largest global advertising and communications groups globally.
Context of the transaction
- Our client is an integrated marketing communications agency operating in over 100 countries;
- The Target group, is an marketing agency network operating across 5 markets in Indochina. It brings a team of 250 people, with specialist operations in Cambodia, Vietnam, Myanmar, Laos and Thailand;
- The Transaction is strategic as it will allow our client to become the only global group with operations in all five countries of Indochina, further strengthening its physical presence across 9 out of 10 Southeast Asian economies (with combined population of 625 millions).
- An integrated team combining professionals from Singapore, Vietnam and Thailand was set up to perform analysis on unaudited accounts of the Target Group;
- Process was based on virtual dataroom supplemented by on-site visits by our team in all jurisdictions, including Myanmar and Cambodia;
- Key analysis focused on revenue/margin recognition in different GAAP environments, cut-off (with testing) intragroup transactions and cash management.
- Project conducted within the 3-month timeline;
- Adjustments to the key transaction figures to reach an agreement on the transaction value.