Brahma.xls
Rev. 4.012 December 22, 2004
This model supports STUDENT preparation of the case study, "Brazilian Beer Merger Negotiations:
Companhia Cervejaria Brahma S.A." (UVA-F-1418). This is a working model in which the student
may insert alternative for
Tottenham Hotspur PLC
Key Assumptions
Rates
Incremental Revenues
e
1.29
rf
4.57%
35%
Player time out for injury
Net goals slope coefficient
5%
0.12
10.2%
Number of goals per season
Coefficient-adjusted net number of goals
Tottenham average goals per seaso
Toy World
The purpose of this case is to get the student to run out the IS and BS and link the two
With linked IS and BS statements, you can then run the Cash Flow Statement, which you will need for valuation!
The linking of the two statements comes from:
Gulf Oil Valuation
The solution of this case lies in the calculation of the Net Present Value (NPV) of
Gulf's exploration and production (E&P) effort. The argument presented by Mesa
Petroleum (T. Boone Pickens) is that Gulf is losing shareholder value by
The solution to the Friendly case valuation has the following road map:
1
2
3
4
5
6
7
Figure out the WACC (use one only - preferably the one that reflects the final capital structure you devise)
Calculate the NPV of the envelope machine
Calculate the pric