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LATIN AMERICA
Private Placement. Certified Pure Ingredients.. CPI, an organic and natural food producer and processor, engaged GIC to prepare financial documentation and source capital for the company. CPI is a leading supplier of organic berries and natural mint oil grown and processed by a subsidiary, CPI-Chile, and Agricola, located in Chile. CPI and GIC have jointly developed a debt restructuring plan that will permit the company to grow and achieve greater integration in its operations.
Business Plan and Acquisition Strategy, Hearts of Palm Industry. Preparation of a business plan and investment acquisition strategy for a company in the hearts of palm industry in Latin America. Upon completion of due
diligence and financial analysis, GIC will be responsible for sourcing the debt and equity financing for the venture. Potential partners/ investors are invited to contact GIC for more information.
Private Equity Fund - Evaluation of Potential Exits for Food and Agribusiness Private Equity Investments in Latin America. The GIC Group conducted a thorough study of the potential exit markets for private equity investments in Latin American agribusiness companies. The study included an analysis of foreign investments in four Latin American countries: Argentina, Brazil, Chile, and Mexico. It also discussed in detail the depth of the IPO markets for Latin American agribusiness and contained profiles on current private equity funds in the region.
Targets for Investment in Argentina's Food and Agricultural Sectors. Private Client. GIC Group produced a study describing current expansion in Argentina's agricultural sector and detecting investment opportunities for international agribusiness firms in Argentina and Mercosur.
M&A Services - Acquisition of a Brazilian Grain Trading Company by ITOCHU International, Inc. ITOCHU International (NY) is a Japanese commodity trading house that was seeking to expand its soybean origination capabilities in Latin America for commodities and Identity Preserved (IP) products. GIC identified a suitable target for acquisition, the third largest Brazilian grain trading company (Eximcoop), and was retained by ITOCHU International to provide consulting services regarding the latter's targeted acquisition of Eximcoop. Investment services provided by GIC included financial analysis, foreign currency risk minimization strategy, share valuation, deal structuring, corporate governance assessment, market analysis, and analysis of the Brazilian grain trade and macroeconomic environment.
Guadalajara Wholesale Market, Definitional Mission. U.S. Trade and Development Agency. GIC advised the USTDA and an organization of Mexican wholesale traders on the establishment of a terminal wholesale market. GIC assessed capital requirements, equipment costs, infrastructure upgrade costs, and financing mechanisms.
Investment Feasibility, Tomato Project in Dominican Republic. Private Client. Pre-feasibility review of potential equity ventures for counter-seasonal growing and marketing of fresh tomatoes. GIC conducted marketing and pricing studies and developed the business and financial plans.
ASIA
China Dairy Farm and Milk Processing Facilities. Private Client. The GIC Group completed a due diligence review of proposed vertically-integrated dairy projects near a major metropolitan area in China. GIC also prepared the client's business plan and presented the proposal to various institutional investors.
Investments in Southern India. Private Clients. For several medium- to large-sized food sector clients, GIC assessed the market potential for direct investments in Southern India and established a local presence through an affiliated investment analyst.
Finagro, New Delhi and Mumbai, India. GIC, together with the Confederation of Indian Industry, organized and hosted Finagro, a forum for agribusiness enterprise and infrastructure financing. Bringing together representatives from leading financial institutions and agribusiness companies worldwide, Finagro successfully introduced new sources of funding to agribusiness enterprises and infrastructure projects in India.
Agro Advantage International Export Promotion. Maharashtra, India. GIC supervised 35 pre-feasibility agribusiness projects and directed ten investment grade projects for the Agro-Advantage project of the Government of the State of Maharashtra, India. Projects included a cold chain for fruit and vegetables export, a fruit and vegetable canning plant for exports, an oleoresin extraction facility, a precision agriculture equipment manufacturing facility, a market information system (MIS) service, and an agro-hub port facility. GIC also developed a White Paper on Foreign Direct Investment Incentives and coordinated project work among The GIC Group, U.S. consultants, Indian consultants, and the Government of Maharashtra.
Wholesale Trade Privatization, Republic of Kazakhstan. World Bank. GIC assisted the World Bank in preparing a strategy for privatizing the former, state-owned distribution system in a manner that maximizes new entry and introduces channel competition.
Due Diligence and Financial Services, VST Natural Foods. India. GIC conducted due diligence and financial services for the divestiture of VST Natural Foods, an Indian subsidiary of British-American Tobacco.
Export/Investment Assessment. Ruchi, India. GIC assessed the global and, specifically, the U.S. markets for soy products and possible long-term investment options for a larger soy processor in India. The assessment included a series of teleconferences with U.S. industry representatives, analysis of barriers to entry, and a survey of niche markets.
Joint Venture Services, Development of JV between Indian Seed Company and International Trading Company. Private Client. The GIC Group designed and implemented strategies for development of an Indian/international joint venture. GIC analyzed the feasibility and synergies that impact the success of the proposed joint venture and the project's principals.
Prefeasibility Study, Re-Export/Transshipment Facility for U.S. Bulk Exports to Asia. As part of an in-depth study to assess the feasibility of a Rotterdam-style re-export facility in Asia for U.S. bulk agricultural exports, GIC appraised the infrastructure and development costs for new or expanded port facilities in Asia. GIC produced the financial model for trade flows, transportation rates, and other costs associated with maritime shipping, and integrated these factors into capital cost estimates to determine the feasibility of the export facility. GIC recommended the financing strategy and potential ownership structure for the proposed facility.
Indian Agricultural Finance Study. The GIC Group and GIC India completed a two volume report detailing the Indian agricultural finance structure, activities, and opportunities. The report also addressed opportunities for small to medium-sized agricultural companies in India.
Project Finance, Spice Oleoresin Manufacturing Facility in India. Private Client. GIC developed a business plan for the proposed $3.5 million plant to produce highest-quality oleoresins, pharmaceuticals, and natural dyes for export to the U.S. and Europe. GIC worked to secure private sector equity investors and long-term marketing agreements for the project to go on-line in 1998.
Global Market Analysis and Feasibility Study Assessment. Bindra Agro Industries Corporation. Analyzed price competitiveness for the product lines of a proposed U.S. $40 million horticultural products processing project in North India. The plant will produce frozen and canned vegetables and fruit juice concentrates. Developed containerization, transportation and tariff costs to targeted markets in the Middle East, Europe, the U.S., and Southeast Asian nations. Prepared overall marketing strategy and held preliminary negotiations with potential large-volume importers and brokers. Also evaluated capital and engineering cost outlays and made alternative recommendations. Private sector finance program prepared for the International Finance Corporation (IFC) of the World Bank.
Rice Processing Mill Project in Punjab, India. Private Sector Client. Development of turn-around strategy including a debt restructuring plan for a composite rice mill with an estimated replacement value of U.S. $45 million. Helped to secure a Canadian buyer for the mill.
NORTH AMERICA
Private Placements: Organic Production and Flour Mill. GIC developed a business plan and sourced capital for a new flour plant in Virginia. The principal investor has a large flour mill
overseas, and has experience in the industry.
M&A Services, Acquisition of Midwestern Grain Company by International Trading Company. Private Client. GIC conducted due diligence for acquisition of domestic grain company by one of the largest international trading companies. GIC also provided advisory services in areas of investment strategy, logistics, corporate governance, and corporate finance.
Fish Meal/Fish Feed Plant in Gloucester, Massachusetts. City of Gloucester. GIC conducted a feasibility study for the establishment of a meal and feed processing facility in Gloucester. The project is under review by potential investors.
M&A Services, Acquisition of a Grain Processing Unit (Sharon). ITOCHU International, Inc. GIC was retained by ITOCHU International to conduct on-site due diligence of a grain processing unit--Sharon Interstate Grain (SIG)--as part of ITOCHU's strategy to expand its origination base in the U.S., especially origination of specialty grain. The investment services provided by GIC included financial analysis, auditing, evaluation of futures positions, asset valuation, deal structuring, corporate governance assessment, and market analysis. The objective of the due diligence process was to confirm all information provided by SIG; to assess the economic viability of SIG; to analyze SIG's expected role in ITOCHU's investment plans; and to assist ITOCHU in determining an acquisition price and management structure after acquisition.
Cape Ann Inland Waters Processing Venture. Conservation Law Foundation. GIC worked with the Cape Ann Fishermen's Cooperative to develop a wholesale processing venture within the internal water off the coast of New England. The project would reduce pressure on overexploited species.
Seminis IPO in 1999: GIC conducted market assessment and valuation analysis for principal shareholder prior to the IPO. The underwriters for the issue were Goldman Sachs and JP Morgan.
AFRICA
Angolan Fish Processing Plant Expansion. U.S. Trade and Development Agency and the Overseas Private Investment Corporation. GIC conducted a desk study to assist TDA and OPIC in assessing the investment potential of a proposed Angolan fish processing plant expansion by a U.S. firm. The analysis included demand, supply, and price projections in Angola and in key international markets for tuna; an assessment of the E.U.'s regulatory regime with regard to fish; an evaluation of the key international competitors of Angola; and conclusions regarding the advisability of official U.S. pecuniary support of the proposed investment.
South Africa, Angola and Peru: Evaluations and Identification of Fertilizer Projects throughout Africa. U.S. Trade and Development Agency. GIC developed strategies for investment in and expansion of the fertilizer industry in various African and Latin American countries. GIC also conducted an analysis of key sectoral issues and policies affecting investment and review of planned fertilizer industry development and expansion projects in targeted countries.
Weija Aquaculture Project: Ghana. African Development Bank and Government of Ghana. Feasibility study to establish an aquaculture project in Ghana. The study identified the economic benefits for locating a commercial fish farm to supply local and regional export markets, and included the following components: domestic and export market analysis, site surveys, engineering study, nutritional impact assessment, and financial and economic analysis.
EASTERN EUROPE
Wholesale Trade Privatization. Republic of Kazakhstan, World Bank. GIC assisted the World Bank in preparing a strategy for privatizing the former, state-owned distribution system in a manner that maximizes new entry and introduces channel competition.
U.S./Baltic Joint Venture. Private Consortium/International Finance Corp. GIC designed a joint venture between an international consortium and a state-owned Baltic enterprise following a detailed feasibility study. Based on in-country analysis and discussions with enterprise managers in the three Baltic states, GIC designed an upgrade-operate-transfer structure for a Baltic deep sea trawler fleet. The capital structure utilized an innovative, in-kind equity contribution by the state-owned enterprise. For the Consortium, GIC conducted vessel valuations, costed equipment upgrades, made debt and equity projections, structured throughput agreements, designed risk hedges and elicited the support of multilateral finance sources.
MIDDLE EAST
Investments in Gaza, West Bank. U.S. Trade and Development Agency. GIC was retained by the USTDA to evaluate and make recommendations on investment proposals for the West Bank and Gaza. GIC assessed markets, capital structure, sponsor specifications, and preliminary project economics for an olive oil facility in the West Bank and a vegetable processing plant in Gaza.
MULTINATIONAL
Corporate Profiles and Strategic Investment Planning. GIC is conducting intensive reviews of potential M&A candidates for a private agribusiness company. It is also serving
in an advisory capacity to the company for purposes of concluding investment transactions.
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