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> SUN Brewing (A)

商品編號: 9-207-022
出版日期: 2006/08/17
作者姓名:
Villalonga, Belen;Amit, Raphael
商品類別: Finance
商品規格: 16p

再版日期: 2010/06/02
地域: Russia
產業: Alcoholic beverages
個案年度: -  

 


商品敘述:

The Khemka family of India--founders, managers, and majority owners of Russia-based SUN Brewing--faces a difficult decision in 1998. Following the ruble''s massive devaluation in August 1998, the stock price of SUN Brewing, which is publicly listed on the Luxemburg exchange, has declined by over 90%. Only two months earlier they had planned a $200 million to $400 million equity and debt offering on the New York Stock Exchange to finance major investments in the face of increased competition from international beer companies in the Russian market. However, the rouble devaluation and the deep financial crisis that has ensued has led to the cancellation of the proposed NYSE listings--and to a $40 million bridge loan that now needs to be repaid. The family is debating the merits of two main alternatives: To bring in a major global beer company as a strategic partner at this difficult time or to stay on as controlling owners, inject millions of dollars into the company from other parts of the family business group, and weather the storm until better terms can be expected from any outside capital provider.


涵蓋領域:

Decision making;Devaluation;Emerging markets;Entrepreneurial finance;Entrepreneurship;Family-owned businesses;Financing;Recession


相關資料:

Spreadsheet Supplement, (9-207-703), 0p, by Belen Villalonga, Raphael Amit;
Case Teaching Note, (5-208-074), 14p, by Belen Villalonga