Privatisation of On line and Terrestrial Gaming Company
Situation and Challenge
Privatisation of a government owned asset
Prepare for the process , generate investor interest and align stakeholder interests
Bring together all stakeholders in creating a unified vision of the post privatized asset and its role in the UK gaming industry;
Aligning the PR and Employee communications to support the process;
Working with key stakeholders ensuring all parties interests are represented across the consortia [ his included 2 plc’s, three bodies representing the interest of racing / owners and jockeys, HM treasury and a government minister] and the board.
Complete vendor due diligence on which funding was secured to under pin the bid;
Persuading government departments of the appropriate structure post sale, benefits flowing to the racing industry, employees interests protected and treasury tax yield not damaged;
Ensuring longevity of the enterprise;
Establishing the full range of goals from the disparate stakeholders across the consortia and aligning those under one plan;
Building a financial plan which blended those outcomes across a 10 year period balancing short term vs long term capital requirements;
Investigated and put in place tax plans which stayed inside post disposal government guidelines.
Government considered the bids made;
Funding was secured;
The business overall performance improved substantially during this period despite the significant time invested in the privatisation process
Change of Prime Minister stalled the privatisation process for several years thereafter and was eventually outside the original remit, price range and conditionality by a different government.