processes

 

 

 

 

 

 

 

 


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Selling Memorandum


A profile of the enterprise being divested is prepared in the form of a selling memorandum. The DIC engages private sector specialists / consultants to prepare these document on its behalf. The Selling Memorandum provides specific information on the enterprise – its activities, products, work force, opportunities etc and general information on the economy, the competitive environment and investment incentives. Where SOEs have up to date accounts, the accounts are made available to potential investors for examination.


Valuation


The DIC obtains an independent valuation of the SOE assets which are to be divested and the valuation is vetted by the Land Valuation Board. This work is carried out by private sector specialists. The valuation provides DIC with a guide to the value of the assets and serves also as an inventory of the assets. DIC ensures that a standard approach to valuations is followed by the specialists to give consistency in procedures for valuations ain accordance with the requirements of the Law establishing DIC.


The assets valuation is uses as an indicative price only by DIC; it is not a reserve price. Persons preparing bids take their own advices as to the price they are willing to offer for the assets and the final selling/purchase price is arrived at after negotiations.


Advertisement of Divestiture


DIC is obliged by the Divestiture of State Interests (Implementation) Law 1993 to ensure consistency in procedures for selling enterprises. Accordingly, notice of intended divestiture is cast widely and the process to be followed clearly spelt out. The advertisement of the sale of the enterprise is the initial stage of this part of the process. DIC advertise the enterprise being divested in various media depending on the likely potential interest in the enterprise.


Registration of Interest


DIC registers persons interested in purchasing the enterprise on payment of a fee and provides a Selling Memorandum. Registration includes the provision of an undertaking to abide by the procedures of DIC. The investor would then be issued with a letter of authority or entry permit to facilitate inspection of the enterprise/assets for sale.


Evaluation of Bids and Proposals


DIC obtains and analyses proposals form interested persons and now seeks and obtains a bid bond from potential investors. The bid bond is converted into a non-refundable commitment fee and part payment of the purchase price once the sale has been agreed.


Proposals are evaluated in accordance with established criteria which include both price and non-price criteria. Bids are ranked and the bidder with the highest price bid is invited for discussions to clarify plans for the business and to discuss the non-price criteria.

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Contact Us

The DIC's offices are located at No. F35/5 Ring Road East, Labone Junction. Labone, Accra.

  • Hot line: +233 (0302) 772049/773119/760281