Mannai Corporation (A): On the Brink Harvard Case Solution & Analysis

In September 2000, Mannai Corporation, one of the oldest and largest private enterprises in Qatar, is facing death. A combination of events has led to the achievement of the company significant limitations borrowing by banks, and it was in grave danger of being unable to meet the wage bill for its 4,000 employees. Mannai Corporation has grown to become the largest private trading house in Qatar. Mr. Ahmed Mannai, a prominent member of the establishment of Qatar, was created out of nothing, a highly successful conglomerate with activities ranging from automobile sales and service through the construction and oil-related maritime activities. More recently, in 1998, Mann made headlines when he became the subject of the first management buyout in the Gulf region. Ahmed Mannai bought out his two partners with a small consortium of banks bay contributing $ 110 million bridging loan. Subsequently caught on drop in oil prices to below $ 10 a barrel at the end of 1998 and the resulting slowdown in the sector and the general malaise in the local economy, Mannai Corporation faced serious financial problems. With interest obligations now close to $ 1 million a month, Mann was brought to its knees. Was supposed to be a celebration for Mannai, marking 50 years of successful trading and expansion, not only in Qatar but throughout the Gulf region and beyond. Instead, its very existence is threatened. The company was faced with a stark choice: to eliminate or somehow contrive a means of survival. If this were to be the last, what would be the priorities and how they will be addressed? "Hide
by Stuart Hamilton, Sarah Hutton Source: IMD 24 pages. Publication Date: February 2, 2007. Prod. #: IMD246-PDF-ENG

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