Ivey Business School (Canada)
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Catholic Syrian Bank: Valuing a Majority Stake in a Commercial Bank
S. Veena IyerCase IVEY-9B19N005-EFinance, StrategyFairfax Financial Holdings Limited (Fairfax), the Canadian insurance and investment company, made an offer in 2016 for a majority stake in the Catholic Syrian Bank Limited (CSB), a regional private bank in India. Despite its initial enthusiasm for the deal, the CSB rejected the offer because of low valuation. At the behest of the Reserve Bank of India, the CSB made a counter-offer to Fairfax for a majority stake at a substantially higher valuatio...Starting at €8.20
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ibibo: Grow Independently or Sell
Meeta Dasgupta; S. Veena IyerCase IVEY-9B17M113-EEntrepreneurship, StrategyIn 2016, the chief executive officer of the ibibo Group, one of the largest players in India’s online travel sector, faced a major decision. MakeMyTrip, India’s market leader in online travel, had expressed interest in acquiring the ibibo Group. Should the ibibo Group’s chief executive officer accept the offer and give up partial or total control of the company, in return for growing with the market leader? Or should he continue with the business...Starting at €8.20
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Jaguar Land Rover plc: Bond Valuation
S. Veena IyerCase IVEY-9B15N012-EFinance, StrategyJaguar Land Rover Automotive plc, a wholly owned subsidiary of the Indian company Tata Motors Limited, announced bond issue worth US$500 million. The proceeds of this issue were to be used to refinance costlier outstanding bonds. The company was able to raise new debt at substantially lower interest rates than its outstanding debt as a result of its sustained good performance, which led to strong company fundamentals and improved credit ratings. ...Starting at €8.20
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Flipkart: Valuing a Venture Capital-funded Startup
S. Veena IyerCase IVEY-9B14N018-EEntrepreneurship, Finance, StrategyThe Indian online retail (“e-tailing”) market had seen a flurry of activity. Success stories such as Makemytrip.com and Naukri.com in the travel and job search domains, respectively, were significant catalysts for this new breed of start-ups. Of these start-ups, Flipkart stood out as one of the most successful (and audacious) — more so because of the funding the company managed to secure over a very short period of time as compared to its competi...Starting at €8.20
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Jaguar Land Rover plc: Bond Valuation (Spanish version)
S. Veena IyerCase IVEY-W28507Finance, StrategyJaguar Land Rover Automotive plc, a wholly owned subsidiary of the Indian company Tata Motors Limited, announced bond issue worth US$500 million. The proceeds of this issue were to be used to refinance costlier outstanding bonds. The company was able to raise new debt at substantially lower interest rates than its outstanding debt as a result of its sustained good performance, which led to strong company fundamentals and improved credit ratings. ...Starting at €8.20
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North Dakota Trade Office: Advising a Pasta Exporter
Derek Lehmberg; Jaeha LeeCase IVEY-W25445-EStrategyIn September of 2020, an international business executive at the North Dakota Trade Office was asked by a client company, Dakota Growers Pasta Company Inc., to advise it on how to increase pasta exports to South Korea. Like many other firms in North Dakota, the client faced a number of hurdles to building successful export businesses. These included limited exposure to foreign markets and limited expertise in trade-related regulations and process...Starting at €8.20
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Boots PLC: Japan Market Entry
Derek LehmbergCase IVEY-9B12M048-EStrategyIn 1998, Boots PLC was in the midst of planning to enter the Japanese retail drugstore market. Boots, a household name in the United Kingdom and a fixture in traditional English shopping areas known as High Street, had an impressive lineup of Boots-branded health and beauty products. Boots developed, manufactured, marketed, and sold these products through its chain of Boots The Chemists stores. Management was convinced that the markets for health...Starting at €8.20
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Sharp Corporation: Beyond Japan
Derek LehmbergCase IVEY-9B11M007-EStrategyFaced with major losses from operations, Sharp Corporation’s young and unconventional president questioned the company’s long-standing operating model. Sharp was a leader in the area of liquid crystal display (LCD) technology and manufacturing. It also held strong positions in several categories of consumer electronics in the Japanese market. Although Sharp had been increasing its involvement in overseas markets, it had yet to replicate its succe...Starting at €8.20
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Pioneer Corporation: The NEC Plasma Opportunity (A)
Derek LehmbergCase IVEY-9B11M093-EStrategyIn 2004, Kaneo Itoh, president of the consumer electronics firm Pioneer Corporation, was considering acquiring the plasma display operations of another Japanese firm, NEC. Pioneer had decided some years ago that plasma display panel (PDP) technology was a good strategic area in which to invest. Recently, Pioneer had been selling increasing numbers of plasma television sets using PDPs. While the company was building a new PDP production facility t...Starting at €8.20
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Pioneer Corporation: The NEC Plasma Opportunity (B)
Derek LehmbergCase IVEY-9B11M094-EStrategyThis case, a supplement to Pioneer Corporation: The NEC Plasma Opportunity (A), is set in 2009.Starting at €5.74