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Mergers Acquisitions

A company owned by a Saudi Arabian Infrastructure Development Group and a Saudi Arabian  Investment Group for investing in power and water projects in the MENA region, had initially hired Synergy as financial advisor for the potential acquisition of an EPC and O&M company in the Water and Wastewater Sector (the "TargetCo"), owned by a major Saudi investment group. Synergy's responsibility was to perform a detailed Commercial and Financial Due Diligence on the TargetCo, valuation of the TargetCo and then concluding the assignment with a detailed Report. The proposed transaction did not materialize, but the parent company of the TargetCo ("Client"), based on the work product of Synergy and upon signoff from the initial client, hired Synergy to conclude a comprehensive sell-side Valuation and Due Diligence exercise (the "Project") of the TargetCo.

As part of the assignment, Synergy team conducted detailed review of the financial statements, designed forms and questionnaires and interviewed the management and employees to gain insight into the internal structure and operations of the TargetCo. The team developed a flexible, granular and detailed financial model for establishing the Valuation of the TargetCo while taking into consideration all the historical and future market aspects. The assignment also included preparation of detailed reports and multiple presentations to help the Client understand the various factors impacting the valuation of the company and how to improve them while ensuring that the numbers are in line with historical performance and future business outlook.

The results of the assignment have enabled the management to establish areas which would result in substantial increase in operational effectiveness due to the depth and granularity of the study, and Synergy's support in analysing the findings. Some of these were findings on the level and aging of receivables, inter-company transfers, cash management and replacement of higher cost floating working capital facility with a lower cost short term debt facility.

The Due Diligence Report and Valuation has been successfully concluded. Synergy is  supporting the Client search for a strategic partner to corroborate the Client in driving TargetCo's next phase of growth. Upon identification of prospective partner(s), Synergy shall support the Client in the Due Diligence by the prospective buyers, negotiations of the final valuation and support in preparation / execution of documentation to successfully conclude the transaction.
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