Spreadsheet for product 9B07N003.

Voestalpine AG, a public company located in Linz, Austria, was examining opportunities for growth. The company considers that to meet the needs of its customers, notably automobile, rail and construction, it has to grow. Further, the steel industry in Europe is in a process of consolidation. The company has a very strong balance sheet but due to its ownership structure (35 per cent is owned by the Austrian government), its market value is considerably .....more

Teaching note for product 9B07N003.

KTM is a small motorcycle manufacturing company located in Austria. As a result of difficult economic conditions in 1999, KTM went private with the help of the venture capital firm BC European Capital (BC). Following a couple of years of strong growth, BC is looking to liquidate its position and move on. KTM is faced with the decision of determining the best means to repurchase BC's equity position in the firm and leave the firm with enough financial .....more

KTM was a leading sport motorcycle company based in Austria with sales internationally. In 2005, the company was considering expanding into all terrain vehicles (ATVs), a market which was experiencing mid to high double-digit sales growth with healthy operating margins. There were several options open to KTM to expand into the ATV market, including internal development, acquisition of another firm with capabilities in the area of allying with an ATV .....more