Post by account_disabled on Feb 28, 2024 4:04:12 GMT
The Banco Garantia team saw a lot of money to be made here. Their next target was the brewery Brahma which they took over in . After decades of development the brewerys growth slow and the business began to falter due to shareholder disputes. Brahma had a share in the Brazilian beer market of as much as and yet the companys profitability was worse than that of the competition. The owners came to the conclusion that the best years of the business were behind it and decid to sell it. After several months of negotiations and the purchase of freely trad shares Garantia bought the brewery for USD million. What was funny was the simplicity of the investment thesis that Jorge Paolo Lehman formulat to justify this acquisition.
The thesis look like this Tropical country. Hot climate. Good brand. Young population. Poor management. He supplement the factors that constitute an investment opportunity with a benchmark. At the time the richest man in Venezuela own a brewery. The richest guy in Colombia Brewery owner. The richest man in Argentina Brewery. When I listen to myself I start to think that someone who advis Jan Kulczyk in Phone Number List taking over the controlling stake in Lech and later the Tyskie breweries knew the history of Banco Garantia.
As the company abandon traditional due diligence due to the rush to deal the change began with the identification that the companys pension fund with million in assets ow its employees approximately million in pensions to be paid. In practice Garantia bought a hole for million that would require a quarter of a billion dollars to fill . Marcel Telles who became president of the merg company act very quickly. He came to the conclusion that the managers especially those highest in the companys hierarchy were to blame for the situation and that they should bear the costs of their incompetence.
The thesis look like this Tropical country. Hot climate. Good brand. Young population. Poor management. He supplement the factors that constitute an investment opportunity with a benchmark. At the time the richest man in Venezuela own a brewery. The richest guy in Colombia Brewery owner. The richest man in Argentina Brewery. When I listen to myself I start to think that someone who advis Jan Kulczyk in Phone Number List taking over the controlling stake in Lech and later the Tyskie breweries knew the history of Banco Garantia.
As the company abandon traditional due diligence due to the rush to deal the change began with the identification that the companys pension fund with million in assets ow its employees approximately million in pensions to be paid. In practice Garantia bought a hole for million that would require a quarter of a billion dollars to fill . Marcel Telles who became president of the merg company act very quickly. He came to the conclusion that the managers especially those highest in the companys hierarchy were to blame for the situation and that they should bear the costs of their incompetence.