Campbell R. Harvey's
Emerging Markets Corporate Finance
Case Presentations 2006
Group 1: Mindtree [Proprietary]
MindTree Consulting is a $100M technology services company based in Bangalore, India. The company has grown from $15M in 1999 to over $100M today, and envisions growth to a $1B by 2011. The company is planning to go public in the next 18 months and needs to choose whether to IPO in the U.S. or India.
Letter to instructor briefly outline objectives of case (one page) For instructor.
Case document. For students.
Supplementary spreadsheets for case. For students.
Proposed solution. For instructor. Email to obtain access.
Proposed solution spreadsheets. For instructor. Email to obtain access.
Powerpoint slides. Class presentation show.
Group 2: CECOCAFEN - The Decision to Buy a Dry Processing Mill
In 1999, Cecocafen, a two-year-old Nicaraguan coffee
cooperative, was exploring the option to become vertically integrated and buy a
dry processing mill. Due to the nature of coffee and very limited access to
financing, a coffee cooperative had never owned a dry processing mill before. Would the Fair Trade movement and creative financing mitigate the substantial
odds against the young cooperative?
Letter to instructor briefly outline objectives of case (one page) For instructor.
Case document. For students.
Supplementary spreadsheets for case. For students.
Proposed solution. For instructor. Email to obtain access.
Proposed solution spreadsheets. For instructor. Email to obtain access.
Powerpoint slides. Class presentation show.
Group 3: Privatization of Trepca Mining and Metallurgical Complex
Kosovo, a province of the former Yugoslavia, is currently administered by the United Nations Mission in Kosovo (UNMIK). Trepca Mining and Metallurgical Complex has been operating in Kosovo since the 1920s. As of 1996, Trepca was Kosovo's largest company and exporter. Given the continuing conflict in the former Yugoslavia, Trepca has in effect ceased functioning and faces an uncertain future. UNMIK is considering privatizing Trepca in order make use of its capital resources and spur economic development in conflict-ridden Kosovo.
Letter to instructor briefly outline objectives of case (one page) For instructor.
Case document. For students.
Supplementary spreadsheets for case. For students.
Proposed solution. For instructor. Email to obtain access.
Proposed solution spreadsheets. For instructor. Email to obtain access.
Powerpoint slides. Class presentation show.
Group 4: Developing the Moatize Coal Mine
This project consists of a project to explore the coal reserves in the Moatize region in Mozambique. A group led by a Brazilian company, Companhia Vale do Rio Doce (CVRD), won the concession to explore the coal reserves in 2004, a bid amounting to US$ 122.8 M. Surprisingly, although CVRD is one of the most successful company's in the world in exploring aluminum based minerals, CVRD has no experience in exploring coal. The total coal reserves in Moatize is estimated to be 2.4 tons and total forecasted cost for the project is nearly US$ 1 Billion. We approach this case from CVRD's perspective in valuing this opportunity to embark into the coal mining industry. We also consider reasons why Mozambique granted the concession to CVRD rather than to the other bidders. Additionally, we explore the involvement of multi-lateral agencies as well as the future interests of the private sector in the region.
Letter to instructor briefly outline objectives of case (one page) For instructor.
Case document. For students.
Supplementary spreadsheets for case. For students.
Proposed solution. For instructor. Email to obtain access.
Proposed solution spreadsheets. For instructor. Email to obtain access.
Powerpoint slides. Class presentation show.
Group 5: Poltava Confectionery - Is Ukraine sweet enough? [Proprietary]
SigmaBleyzer, one of Southeastern Europe's leading private equity funds, was
looking to make a controlling investment in Poltava Confectionery, a
confectionery firm in the Ukraine. In the 1990's, the Ukranian economy and
securities market became open to investors, creating a unique investment
environment. This case outlines this particular investment opportunity and
examines potential costs and benefits associated with the deal in the context
of the Ukranian market.
Letter to instructor briefly outline objectives of case (one page) For instructor.
Case document. For students.
Supplementary spreadsheets for case. For students.
Proposed solution. For instructor. Email to obtain access.
Proposed solution spreadsheets. For instructor. Email to obtain access.
Powerpoint slides. Class presentation show.
Group 6: Suzano Petroquimica
Suzano Petroquimica had a joint venture with Basell in a company called PoliBrasil, which is the second largest polypropylene producer of Brazil. In June 2005 they announced a buyout of the Basell’s 50% stake in the company for $253M USD. The acquisition was partly funded by the IFC with a loan of $200M USD.
Letter to instructor briefly outline objectives of case (one page) For instructor.
Case document. For students.
Supplementary spreadsheets for case. For students.
Proposed solution. For instructor. Email to obtain access.
Proposed solution spreadsheets. For instructor. Email to obtain access.
Powerpoint slides. Class presentation show.
Group 7: The Privatization of Orpheus Tours
The government of Eastlandia, a hypothetical country in Eastern Europe, has decided to privatize Orpheus Tours, one of the largest national hospitality companies. The key issue that government officials are facing is the minimum price for the company they should accept. More specifically, as the company is operating a number of business lines, the case will explore whether the sum of the parts would exceed the value of the company as a single entity. Further, the case will address some other challenges such as forecasting cash flows and estimating the cost of capital in a highly volatile environment.
Letter to instructor briefly outline objectives of case (one page) For instructor.
Case document. For students.
Supplementary spreadsheets for case. For students.
Proposed solution. For instructor. Email to obtain access.
Proposed solution spreadsheets. For instructor. Email to obtain access.
Powerpoint slides. Class presentation show.
Group 8: Hutchison Whampoa Limited and the Phase II Shanghai Deep-water Port Project
Starting from the second phase of the Shanghai Yangshan Deep-water Port Project,
the Shanghai government lifted restrictions on foreign and domestic private investment. Seeing this as an opportunity,
Hong Kong based Hutchison Whampoa Limited (HWL), the world’s leading port developer and operator, faced the decision of
whether or not to become one of the project investors. The Phase II Shanghai Deep-water Port Project would almost double the size
of Shanghai's first deep-water port and further alleviate the bottleneck that has constrained Shanghai’s growth as an economic
and shipping center. However, it also comes with various external and internal risks and a total cost of $800 million.
The purpose of the case is to provide background information regarding the project and analyze HWL's investment decision.
Letter to instructor briefly outline objectives of case (one page) For instructor.
Case document. For students.
Supplementary spreadsheets for case. For students.
Proposed solution. For instructor. Email to obtain access.
Proposed solution spreadsheets. For instructor. Email to obtain access.
Powerpoint slides. Class presentation show.
Group 9: Air Deccan
Issues surrounding whether this low cost Indian airline should go public.
Letter to instructor briefly outline objectives of case (one page) For instructor.
Case document. For students.
Supplementary spreadsheets for case. For students.
Proposed solution. For instructor. Email to obtain access.
Proposed solution spreadsheets. For instructor. Email to obtain access.
Powerpoint slides. Class presentation show.
Class of 2006
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2006 Auditors
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