Larive

Type of assignment	Short description	Period	Description
Exit advice/Sell side	Import and Distribution of Food products & Meat Processing Operation	2003 - ongoing	The Client is a Spanish investor that entered the Romanian market by developing two different businesses: a Commercial Operation of Import an Distribution of high quality special Spanish Food Products and a Meat Processing Company. The Spanish Investors decided to exit from the 2 already mature businesses and to enter in a new field of activity. LARIVE is assigned to prepare the 2 companies and to sell them. Expected value of the combined deals is of 3 mio EUR.
Exit advice/Sell side	Pig farm	2003 - ongoing	The Client is a domestic investor who acquired and developed a modern pig farm with 10 500 heads of the highest quality. The farm is one of the most efficient presently in Romania. *The investors decided to sell the operation and hired LARIVE as advisor for exit*. Expected value of the transaction is of 3 mio EUR.
Exit advice/Sell side	Romanian Billboard Network	2001	The Client was no. 4 - 5 player on the outdoor market; having in view the consolidation process which is taking place in this sector in Romania, the Founders of the company decided to exit from the business, by selling their participation into the company; LARIVE prepared the "information memorandum", identified and approached the possible buyers; negotiations with several potential buyers took place. Expected value of the deal was of 0.5 mio USD.
Exit advice/Sell side	MARMURA SA, Romania	2000 - 2001	The Client was no. 2 producer of marble and travertine in Romania; the main shareholder of the company (a Romanian Fund holding app. 80% of shares) hired LARIVE to advice on the exit strategy; a presentation of the company has been made and a group of potential local and foreign investors have been approached; negotiations with 2 interested buyers took place; LARIVE was involved in the process of evaluating the offers and in the negotiations with the potential investors. Expected value of the transaction was of 4-5 mio USD.
Exit advice/Sell side	Media and Newspaper Romanian group	1999 - 2000	The Company developed a group of related local newspapers which was covering app. 30% of Romania, offering also B2B information and market analysis to their clients; LARIVE was hired by the Founders of the Group to sell their participation into the Group; an extensive "information memorandum" has been prepared and different exit strategies have been developed; West European strategic investors and Venture Funds have been approached; negotiations with more potential buyers took place. Expected value of the transaction was of 7 - 8 mio USD.
Exit advice/Sell side	Private Bank, Romania	1999 - 2000	The client was a small, private owned bank looking for an increase of capital. LARIVE Romania prepared the bank for sale, writing all the necessary documents and papers for presenting the company; a list of potential investors has been made and the most suitable of them have been approached; LARIVE advised regarding the structure of the deal (exit of a group of initial investors who owned app. 80% - app. 2 mio USD - combined with issue of new shares) and during the whole process of negotiation. *Total value of the concluded transaction was of app. 4,5 mio USD*
Exit advice/Sell side	SANEX SA, Romania	1999 - 2000	SANEX was one of the most important (no.2) players in the field of sanitary ware and tiles on the Romania market; the company is a public one, and the main shareholder was the association of the management and employees (PAS); LARIVE was member of a team of consulting companies which advised SANEX with respect to the exit strategy; a presentation of the company was made and potential local and international investors have been approached; the consultant supported the company during negotiation process, advising on the best solution of the structure of the deal; an international Venture Fund + Strategic investor entered the company, *closing a transaction of about 5 mio USD*
Exit advice/Sell side	NUTRICOM SA, Romania	1999 - 2000	The Company was, with a turnover of more than 30 mio USD, the main independent Romanian feed mill; the main shareholder, the Management & Employees Association (PAS), hired LARIVE to find a way to capitalize the company; a deep analyze of the sector and of the company, which led to an extensive "information memorandum", convinced a financial investor to enter into the company, buying the majority participation of the PAS (M & E) to the company and increasing the share capital. *Total value of the closed transaction was of app. 3 mio USD*
Exit advice/Sell side	Food Industry Company	1999	The Client was a minority shareholder in a company producing margarine; after 5 years from the initial investment which the client made together with a strategic western foreign one, he decided to exit and focus on distribution of food products; LARIVE advised on exit's strategy and supported the client during the whole process of negotiations; all the necessary papers for selling the minority participation to the majority shareholder have been prepared. *Total value of the transaction was of 1 mio USD*
Exit advice/Sell side	Romanian private dairy processing company	1995 - 1996	A privatized dairy company approached LARIVE Romania to identify a strategic investor to be its partner. LARIVE Romania found a Western investor and was involved in the whole process of pre-investment advisory services, including negotiations, the development of a business plan, the valuation and a feasibility study. Total estimated value of the project was about 4 million USD.
Acquisitions/Buy side advice	International Company in Dairy Products	2000 - ongoing	The Client was looking for a local partner to produce high quality dairy products for the local market; LARIVE identified the local company, structured a complex financial schema (subsidies included) for financing the development of the local partner and of the deal. *Total estimated value of the investment is of 2,5 mio EUR*.
Acquisitions/Buy side advice	Western Company in Aircraft Industry	2002 - ongoing	The Client is looking for a local partner to produce aircraft's parts at high quality standards and low labor costs. LARIVE identify the target local company, advised the entry strategy and is providing consultancy services for structuring the co-operation between the parties. *Estimated value of the investment is of 3 mio EUR*.
Acquisitions/Buy side advice	Dutch Company in Harbor Logistic	2002 - ongoing	The Client is a major Amsterdam Port operator that is looking for similar activities in Romania and for investing in and developing a production capacity for production, marketing and sales of containers. LARIVE made the feasibility study of the proposed development, identified financing possibilities and provides consultancy for implementing and developing the business. *Estimated investment is of app. 2 mio EUR*.
Acquisitions/Buy side advice	Dutch-Romanian JVs	1996 - ongoing	The client is an important producers of margarine and halvarine in Central Europe. Based on the support and advice given by LARIVE in the pre-investment phase, the client decided to set up two production JVs with Romanian private companies in the Bucharest and Moldova (Iasi) area. The two companies are among the first producers of halvarine in Romania. LARIVE Romania was involved in the whole pre-investment phase and currently is monitoring both investments of the Client in Romania, offering post investment advisory services for the two companies (in Iasi and Bucharest) such as: developing the investment, management support and consultancy, financing supplementary developments. The value of the total investments in the two projects is of more than 10 mio USD.
Acquisitions/Buy side advice	Multinational in Media	2000 - 2002	The Client is a global information and media group; LARIVE was hired to identify potential partners to fit (through acquisition) Client's strategy for increasing the market share and development in Central and East Europe; the initial discussions have resulted into preliminary negotiations and possible investment; assisted by LARIVE Romania, the Client acquired a minority position in the local target company. *Total value of the first closing (initial investment) was of app. 6 mio USD.*
Acquisitions/Buy side advice	Western Manufacturer of Textile	2000 - 2001	The Client company was looking to divest the operation they have in Western Europe and to relocate in Romania. LARIVE was the consultant for the acquisition, being responsible for identification of the local partner, for making the financial due diligence and organizing the other necessary diligence, for proposing and structuring the deal; LARIVE was supporting the Client during the whole process of negotiation and closing of the deal. The expected value of the initial investment of the Client into the Project was of 5 mio USD.
Acquisitions/Buy side advice	Belgian-Romanian JVs	1998 -1999	The client was no.1 Belgium stockings producer. The company wanted to enter new markets and LARIVE was hired to find local partners; LARIVE identified the main local players and was involved as an adviser of the buyer in deal structuring, negotiations, closing the deal. Financial, juridical, technical and environmental researches were initiated. Two new joint ventures were set up, through increase of capital and acquisition of shares from the former shareholders. LARIVE was further involved for about 1 year in the post investment phase and the development of the operation, by participating in the Board of Administration of the JVs. *Initial investment in the two companies: 6.5 mio USD.*
Acquisitions/Buy side advice	Dutch international milk processing company	1998	LARIVE prepared an overview of the situation of their activities in Romania and presented a business plan in order to improve the distribution network built by the current local distributor.
Acquisitions/Buy side advice	Dutch producer of dairy products	1998	The Client was one of the main players in Western Europe in the sector of dairy products. LARIVE was hired as adviser for the buy side, to investigate the market trends and opportunities and to propose a strategy for the development of the Client's activity in Romania. More local independent companies have been approached and analyzed for a possible take over / investment by the Client; LARIVE advised with respect to the most appropriate local partner and regarding the entry strategy. As a follow up of this project, *the Client acquired majority interest in 3 companies, investing app. 6 mio USD.*
Acquisitions/Buy side advice	Dutch industrial company	1994 - 1996	Initial partner search in the field of production lines for the automotive industry. Feasibility study regarding a JV in the field of engineering and production for automotive industry. Participation in the negotiation process between the two partners. Total *value of the initial investment 1 mio USD*.
Acquisitions/Buy side advice	English company in high-end ladies garments	1993 - 1994	Partner search, negotiation assistance, and a joint venture creation for a ready-made garment company. The company is fully operating with more than 200 employees and the social capital has been increased. *Initial investment: 0.7 mio USD*).
Project finance	Investment Fund for SMEs in Romania	1999 -2001	Together with LARIVE International, LARIVE Romania was involved in setting up an investment fund for SMEs in Romania. LARIVE Romania selected the local team and offered support in starting the activities; identified and selected target projects (pipe line); provided pre and post investment advisory services; monitored the investment. *The total value of the Project was of app. 4 mio EUR.*
Project finance	Financing the import of high-tech medical equipment for the Romanian Ministry of Health	2000	The project was designed for the rehabilitation of 42 major health care providers, including 10 reference centers. LARIVE was responsible for obtaining the external credit for financing the operation. The value of the obtained credit was of 15 mio USD for a 4 years period.
Project finance	Romanian producer of margarine	1998	Business plan for obtaining finance in order to build a new production hall and to purchase all necessary equipment; identification and negotiation with several financing institutions; value of the project: 2 mio USD
Project finance	Eurobalance	1994 - 1998	LARIVE acted as the local fund manager for Eurobalance, a Dutch venture fund for the agricultural, food and industry sectors. Eurobalance was established by ING daughter Parcom, former ABN Amro daughter Mees Pierson, and FMO, a financial institution to support Dutch investments abroad. The fund owns around 20 million USD, which were all invested in CEE countries. LARIVE monitors running projects, reports to the Board of Directors, and gathers information about potential projects in which local partners, together with Western strategic investors, are looking for venture capital.
Project finance	International developer and investor in hotel business	1996 - 1997	Identification of partners with added value and raising funds for a project of about 15 million USD for developing a transit hotel in the Otopeni airport area. App. 2 mio USD were raised for the development of the Project.
Project finance	EDCS / private local bank / FRDM	1993 - 1996	Establishment of a credit fund (total 2 million USD) for small scale credits to projects in the Mountainous Areas of Romania. The partners involved in the project were the Ecumenical Development Co-operative Society (a Dutch non profit organization of the World Council of Churches), a Romanian local bank and Federatia Romana pentru Dezvoltare Montana (Romanian non-profit organization which promotes the development of the rural zones from the mountainous area). LARIVE Romania was the initiator and the lead consultant of the whole project. LARIVE Romania had, in the starting phase, a place in the Supervisory Board of the Credit Fund.
Project finance	Dutch investor in service company for agricultural services	1994	Feasibility study, company structuring, business plan and setting up a majority Dutch owned JV for the import of 20 combines. Based on studies and investigations, a 2 mio USD loan was negotiated and obtained from the EBRD via Banca Agricola. After the startup, LARIVE provided to the Dutch investor monitoring, post investment advisory services and management support for the established company. Initial investment of 1 mio USD.
Market research	Western lime producer	2001	Research on the Romanian lime market. Drawing up a report containing the general picture of the lime sector, opportunities and threats. Identification of potential partners.
Market research	Dutch pork meat processor	2001	Market research for identifying the demand existing on the Romanian market for some special half-prepared meat products. Recommendation with regards to the geographic area and the type of clients such products should be addressed to.
Market research	French Multinational telecommunication company	2000	Research on the Romanian market of telecommunication equipment. Detailed company profiles for the potential commercial outsource partners. Complete market report and recommendation related to starting a commercial relationship with the most suitable Romanian producer. The research was conducted by LARIVE in 5 CEE countries.
Market research	Dutch non-ferrous metals, steel alloys and precious metals recycling company	2000	Investigation and market research, drawing up a report containing main issues related to the Romanian recycling market and recommendation for a potential entry on that market. Follow up expected. Investigation carried out in 5 countries.
Market research	Dutch multinational in trucks and buses business	1999	Market scan of all the main producers and traders of trucks, identification of distribution channels of the competitors, brand image in the market. Recommendations for improving the sales and image of the brand. The research was conducted in 7 countries in the same time.
Market research	Belgium wire producer	1999	Market research, identification and drawing up the profiles of the major Romanian wire producers. Recommendations for entry strategy were made
Market research	German transportation company	1998	Extensive research on Romanian and international transportation providers on the Romanian market. Also identification of 300 potential clients. For 10 transporters and 40 promising potential clients, elaborated company profiles and close contacts were established.
Market research	French cheese producer	1997	Investigation of the distribution possibilities in Romania for well known French cheese products. Overview made on the Romanian dairy market and its foreign trade regulations. Recommendations made. Investigation carried out in 8 CEE countries.
Market research	Large foreign international medicine producer	1997	Designing a marketing plan for the representative office of a foreign medicine producer. The position of its brands in Romania had to be improved. An investigation of the underdeveloped and unclear pharmaceutical market was conducted and a national strategy was developed.
Market research	Western European rubber company	1997	Research about the opportunities on the Romanian market for newly developed mattresses. This research was conducted by Larive in all Eastern European countries simultaneously. From this complete report an entrance strategy was developed.
Market research	Romanian large private milk processing company	1996 - 1997	Research regarding the position on the local market of ice cream products; re-structuring the relationship with distributors, developing a marketing plan for the near future, and improving the distribution strategy of new ice cream products.
Market research	Medium size private beer company	1996 - 1997	Conducting a market research on the local market regarding the image of the brand name of the company.
Market research	International producer and distributor of coffee and tea products	1997	Competition analysis on brand names and importers / distributors present on the local market.
Market research	Market study on IMF products	1996	LARIVE assists a multinational company in the field of the Instant Milk Formula in entering the Romanian market. The result was a very detailed report and a presentation regarding the Romanian trends in population and habits about baby feeding.
Phare/Institutional projects	Access to education for disadvantaged groups, with a special focus on roma, PHARE project 0104.02, grant management scheme	2002 - ongoing	LARIVE is one of the two local partners of the consortium that provides technical assistance for the implementation of the grant scheme (in value of 4.000.000 EUR) in the projects selected by the Ministry of Education and Research. Technical and financial assistance is provided for organising the tenders for contracting of services, works, supplies. Selected projects (grant value being between 200.000 - 500.000 EUR per project) will be closely monitored for observing the conditions requested by EU procedures. The total value of the TA project is of 550 000 EUR.
Phare/Institutional projects	Support to enterprises in the food industry for harmonization of standards for food products	1999 - 2001	LARIVE Romania was the local partner in an international consortium executing this project for the Ministry of Agriculture and Food. The project aimed to support food processing companies to adapt to the new environment resulting from the enforcement of new quality standards and to prepare for joining the European Union. LARIVE Romania was involved in the co-ordination, selection and management of the local expertise, a major part of the project being implemented by Romanian experts. The total value of the project was of 2 million EURO.
Phare/Institutional projects	Multi-country project Road and Motorway Management; Road Transport Charges in Central European Countries; Regional Seminars in the Re-structuring of Railways	1998 - 2000	For these multi-country projects, with their goal to improve the strategic infrastructure planning and financing, LARIVE Romania investigated the current situation, made recommendations for the consortium-leader and organized in Romania several workshops and seminars on the implementation for five countries.
Phare/Institutional projects	Evaluation of Phare Multi-Country and National Telecom and Post Programmes and Projects for SCR of the European Commission	1999
Phare/Institutional projects	Strategic Review of the Agricultural Knowledge and Information System (AKIS)	1998	LARIVE Romania provided the local experts that have worked for this project. At the end of the project LARIVE organized the National AKIS conference, with more than 100 participants.
Phare/Institutional projects	Foreign Investors Council	1997 - 1998	LARIVE Romania acted as the representative office for the Foreign Investors Council (F.I.C.) and offered management and logistic support. After the council had grown significantly and became mature, it established its own office. The F.I.C. consists of senior managers of leading foreign investors in Romania who devote their time individually or in work groups proposing solutions to policy makers on issues of common concern to foreign investors. F.I.C. members invested altogether, in Romania, more than 4 billion USD.
Phare/Institutional projects	Medical Projects developed within the Ministry of Health	1994 - 1998	The projects consisted in supplying medical equipment for 419 rural dispensaries, vaccine cold chain equipment at 41 district stores, equipment for ambulances etc. The value of the projects were between 0.5 mio EURO - 1.3 mio EURO. LARIVE provided the local support to the Dutch procurement company assigned for these projects, consisting in identifying the tenders, representing the foreign partner against the Romanian institutions during all the phases of the projects, contract negotiations with the Ministry of Health, registration of the medical equipment in Romania, follow up of the delivery in time of the equipment.
Phare/Institutional projects	Technical Assistance for Managers of Commercial Companies from the Agri- business Sector	1996 - 1997	LARIVE Romania was the main local partner in an international consortium led by Finnconsult Oy, executing this project for the Ministry of Agriculture and Food. Consultancy and training courses were provided for the top and middle management of private and state owned companies. The project was financed by the European Union as a part of the PHARE program. LARIVE Romania was involved in the management of the project and was also providing consultancy and training for managers of the local target companies. More than 50 medium size companies were involved in the project of a duration of 14 months. The total value of the project was of 1.25 million EURO.
Phare/Institutional projects	Environmental due diligence procedures for private banks	1995 - 1996	Environmental Resource Management (U.K.) and LARIVE Romania have been contracted by the EBRD to prepare extensive bank procedures for environmental issues. Manuals for the implementation of such procedures, with the observance of the local and international regulations and laws, have been prepared and full training of two banks' experts has been executed. Similar projects were to be developed for all banks where the EBRD had financial participation.