corporate finance
We provide professional business evaluations and consultations in the area of financial management of the business
CASE STUDY
"Financial due diligence, evaluation and preparation of an information memorandum for the privatization of a pool of three footwear enterprises".
Under a contract with the Ministry of Economy and Energy privatization preparation was carried out for the sale of three footwear enterprises (Stara Reka EAD - Peshtera, Kocho Chestimenski EAD - Plovdiv, Ilyo Voyvoda EAD - Kyustendil). State participation in enterprises was offered to potential buyers through the negotiation method.
Activities of the HIRON's team * Analysis of the sector and the external factors affecting the value of the shares of each of the companies proposed for privatization; * In-depth in-house business analyzes focusing on the market, production, technology and financial potential of each; * Estimation of the fair market value of the shares by applying methods of valuation previously agreed with the Ministry (Net Asset Value, Liquidation Value, PPIs and Markets Based Market Estimates); * Benchmarking and Benchmarking with justification of the price range for negotiating with potential buyers for each company; * Information memoranda for state-owned companies. |
MORE CASE STUDIES
Industrial holding company AD
Analysis and evaluation of the share capital of the holding to justify its capital restructuring to the Securities Commission. Evaluation of the capital and assets of eight of the holding companies - Chimatech AD - Sofia, IC Iskar AD - Sofia, Velka Lak AD - Dupnitsa, ZIIU Standard - Blagoevgrad, Elp Harmanli AD - Harmanli, Gurkovo. Fairplay Agriculture Fund (FAF)
Analysis and evaluation of the share capital of a holding joint stock company for the purpose of selling a minority stake of the company's capital to a private investor and / or for a tender offer. Assessment of the capital and assets of six of the holding companies - Stroy Invest 2002 EOOD; Rimex Oil EOOD; Agrogram Ltd; Proagro EOOD; Agrosorte EOOD; Agropont Ltd. Varna shipyard AD, Varna
Evaluation of property, real estate and machinery for the purpose of restructuring the company's liabilities to the State Fund for Reconstruction and Development. Privatization Agency / PHARE Programme / SARA
Preparation for privatization and mediation in the sale of the shipyards in Rousse, Varna and Burgas. Project implemented jointly with DFC Group - Spain, Appeldore International - United Kingdom, Comerzbank - Germany. Performing financial due diligence and business valuation of companies. US Agency for International Development
Pilot project to accelerate municipal privatization in Plovdiv and Kardzhali, realized jointly with the consulting firm Peat Marwick - USA. EU Agency for Reconstruction
Analyzes and assessments of the capital and assets of 50 state and public enterprises in the Republic of Kosovo. The project was implemented by DFC / PET / HIRON consortium. Petrol AD, Sofia
Evaluations of 18 real estate per company for market realization. Saint Gobain Weber Bulgaria
Market evaluation of real estate of MAXIT Bulgaria OOD under an acquisition deal. Sredna Gora - Invest, Stara Zagora
Business plan and project for acquiring Sredna Gora AD in a scheme of foreign investor participation - IKEA. BIC SIME - 98 AD, Sofia
Business plan for acquiring a share package from BIC Sime AD with competitive documentation on the privatization procedure. АББ, Швейцария
Проект за закупуване на контролен пакет акции (дялове) от Авангард АД - Севлиево. Bulbrik - engineering 97 AD, Sofia
Project for financial restructuring. Ministry of Economy and Energy
Privatization assessments, legal analyzes and information memoranda on procedures for the privatization of state-owned enterprises: VMZ EAD - Sopot; Ilinden EOOD - Pleven; Sredna Gora Ltd. - St. Zagora; Rouen Fashion EOOD - Sofia, Rodina Ltd. - Popovo; Rouen Fashion - Sofia; Old River - Peshtera; Kocho Chestimenski EAD - Plovdiv; Ilyo Voyvoda EAD - Kyustendil; Odiana Ltd. - Sofia, Izgrev EAD -Dimitrovgrad and others. Privatization Agency
Privatization assessments, legal analyzes and information memoranda on procedures for the privatization of state-owned enterprises: Jiti AD - Rousse; Chimco EAD - Vratsa; INCOMS Ltd. - Blagoevgrad; Fazan EAD - Ruse; Flavia EAD - Plovdiv; Brilliant EAD - Plovdiv; Slavienia EOOD - Retail; Domostroene Ltd. - Silistra; Interhotel Sandanski AD, and others. Project for the purchase of a controlling stake (shares) of Lav AD - Gabrovo AD
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Ministry of Agriculture and Food
Privatization assessments, legal analyzes and information memoranda on open privatization procedures for privatization. Ministry of Regional Development of the Republic of Bulgaria
Privatization assessments, legal analyzes and information memoranda on open procedures for privatization. US Agency for International Development
Project for privatization preparation of state companies: Pioneer - Byala Slatina, Velbazd - Kyustendil, WSI - Sofia, Crystal-91 - Plovdiv, Pamporovo ski - Chepelare, etc., realized with the consulting companies Peat Marwick - USA and Policy Economics Group - USA . Akva Engineering OOD - Sofia
Market evaluation of the capital and assets. Troleybusen Transport EOOF - Vratsa
Analysis of a joint venture agreement and market valuation of assets for liabilities restructuring. Cable Networks OOD, Vratsa
Market evaluation. Lekoom Slavov and Sie OOD, Sofia
Project for the purchase of controlling stake (shares) from BIOS EOOD, Sliven. Business plan and feasibility analysis
of a project for development and financing of agrarian complex of a meat processing plant and auxiliary farms in the village of Aglen. Balkamerika AD
Analysis of the economic feasibility for developing a chain of stores in small and medium-sized towns in the country - at the request of a foreign investor. GG and Sie OOD - Belitsa and Business Centre - Razlog
Project for the completion of a small wood processing plant in the town of Belitsa (Business plan and financial and economic justification). ET Zlaten plod - NEVI, Kyustendil
Financial - economic analysis and business plan for construction of a plant for production of dried and frozen fruits and vegetables. ЕТ Bigi DV
Business plan of a plant for processing wild mushrooms, herbs and berries. Sofia Privatization Agency
Privatization assessments, legal analyzes and architectural services for privatization sites in Sofia. Sofia Privatization Agency
Privatization mediation in a consortium with Lixed Ltd for the sale of three municipal companies in Sofia - Domostroene EAD; Sredets EAD; Bakery products - Revival under contract with Sofia Privatization Agency. Implementation of privatization assessments, legal analyzes and information memoranda for companies. Preparation and conduction of tenders and negotiations with potential buyers. State Agency for Privatization in Plovdiv
Privatization assessments, legal analyzes and architectural surveys of more than 70 commercial municipalities Industrial holding company AD
In liquidation. Market valuation report of the subsidiaries of the holding company - Fimenco EOOD, Menfico EOOD, Chimatech JSC - Sofia, IC Iskar AD - Sofia, Velik Lak AD - Dupnitsa, Elp Harmanli JSC - Harmanli, Trakia Industrial Center - Plovdiv, Gurkovo AD - Gurkovo . The report was prepared for the liquidator in the liquidation proceedings of the holding company. |