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Welcome to our support website for the business case "PE in Emerging Markets: Can Mekong Capital's Operating Advantage Boost the Value in its Exit from Golden Gate Restaurants?".

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Abstract

Vietnam-based private equity firm Mekong Capital is looking to exit its growth equity stake in Golden Gate restaurant group. Mekong Capital weighs the pros and cons of various means to exit, including a third-party sale and an IPO. The firm must decide how to best maximize value operationally and prepare Golden Gate for exit— deciding between emphasizing growth opening new locations and optimizing current unit performance. In shaping the exit to enhance value the firm must convince other stakeholders and Golden Gate management to take bold action operationally.
 

Pedagogical Objectives

  1. To consider how emerging market PE Firms with an operations focus use it to their advantage to source investments.
  2. To recognize the differences in how a strategic buyer, a PE firm or public shareholders (if exit is via an IPO) evaluate a business in an emerging market.
  3. To use an acquirer’s or investor’s criteria in order to determine what measures drive the most value.
  4. To see how a growth equity investor, as a minority investor, can secure a major role in formulating operational strategy and partner in executing operational initiatives.
     

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  • Hard and soft copies of the case and teaching note (which contains the login and password to access the private area of this site) can be purchased via our distributors’ websites. To choose a distributor please visit the INSEAD Case Distributors page.
  • The case can also be purchased directly from INSEAD.
  • If you are not a registered instructor, follow the instructions on our distributors’ websites to identify yourself as such.

 

 

 

 


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