Madda Cooperation

The Madda Tower, Madda's headquarters in Kekuode, Illqurioe

The **Madda Cooperation** or commonly known as just **Madda** is a Ilkursiee multinational oil and gas startup conglomerate subsidiary of Huanwhuei, Inc. headquartered in the Madda Tower of the Kekuode Metropolitan Area, in Illqurioe. The cooperation is a public company listed on the Illqurioe Stock Exchange Association (IQSEA) and the Kekuode Metropolitan Area Stock Exchange (KMASE). Madda is prominently known for being the largest energy and oil production company in Illqurioe by revenue and assets.

The company is vertically integrated and is active in almost every area of the oil and gas industry, including transport, oil production, refining, exploration, marketing, petrochemicals, trading, and power generation. Madda has also overseas operations in the territory of Angeollic under the Madda Angeollic division and produces around 2.4 million barrels of oil equivalent every month. The cooperation also owns the brands of Kappada, Mobile, and Cent, all of which are energy companies.

## History

Madda was formed by a completion of a merger that lasted to December 1st, 1990, to May 7th, 1991. The new merger consists of 11 companies, the most prominent being Kappada and Cent, which both alongside Mobile were made as brands to the new company. Teo Takeo, the already president of Kappada will lead the new company as announced on the same day as the closure of the merger. Kappada and Cent also were both made private and delisted immediately from the Illqurioe Stock Exchange Association 31 minutes after the closure of the merger.

The new cooperation retained around 92.2% of it's employees and all of it's top executives. On June 9th, 1992, the cooperation performed a initial public offering (IPO) with the executives of IQSEA and KMASE, looking to be listed on both of the stock exchanges under the ticker symbol "IQ-MADDA". On June 11th, 1992, the cooperation acquired Namono, a prominent oil and gas company in the regions of northern Illqurioe for around 4.2 billion quri. On October 6th, Madda acquired Renomo, a renewables company for a undisclosed amount of quri. IQSEA and KMASE then approved the IPO on October 8th and October 18th respectively. The company went public on October 27th, 1992 on both of the stock exchanges.

### Acquisition by Huanwhuei

In May 3rd, 1993, Huanwhuei, with a already massive 44.6% stake of the company at the time since it went public two months after it's founding made a unsolicited offer to acquire the Madda Cooperation for 468.7 billion quri to take the company private again. Madda then introduced a poison pill strategy to prevent a hostile takeover. Reactions to the proposed buyouts were incredibly mixed.

On January 2nd, 1994, the deal to buy the entire company was accepted by the chairman of Madda, Teo Takeo, and is expected for the deal to be completed on late 1994, however both parties' bankers and lawyers were set to complete the paperwork for the acquisition by the end of August, a few months earlier than expected. Mass layoffs are expected to happen at the completion of the acquisition as told by the chairman and CEO of Madda, Teo Takeo.

At August 29th, 1994, the acquisition was closed and Madda was immediately taken private, along side a massive layoff of up to 24,400 employees.

### Post-acquisition by Huanwhuei

On August 30th, 1994 after the completion of the acquisition, Huanwhuei's top executives has suggested phasing out Madda's major oil and gas industries due to environmental concerns and Madda's heavy carbon footprint, although it was met with mostly lukewarm reactions. Madda also temporarily closed it's headquarters and overseas offices for 2 days.