Firm Services News Team Network

Ivan Shmelyov


 


Contribution to success of the team's projects is what makes us professionals.  Ivan Shmelyov provides the commentary when these conclusions can help entrepreneurs in their quest for better opportunities in the Market for Control.

Contribution to Selected Projects

UVC Eastern Europe

1. 2001-2003 Private Equity Investment in North American IT/Media Company Newspaper Direct, Inc. : Justified preliminary positive investment opinion. With the CEO, performed primary due diligence and valuation. Drafted the investment memorandum. Focused and supervised the efforts of the due diligence firms exploring NewspaperDirect and provided critical due diligence findings within extraordinary short period. Proposed and justified downside protection for the Fund, which involved combination of specific rights and series of put options. After the investment, monitored the company, proposed suggestions at the Board Meetings. Helped the Fund negotiate higher price in takeover bids.

2. 2001-2002 Sale of majority stake in machinery producer: Shaped the most beneficial methodology for valuing the company and offered shares. With the CEO, valued the stake and justified the price in negotiations. Reviewed and adjusted all the term sheets, the draft share purchase agreements and the escrow agreement, composed term sheets and memoranda of understanding. Helped formulate and explain sell side position to counterparty in meetings. Provided research and advice on course of action of the sell side.

3. 2001-2002 UVC Ltd. Entry into Russia and Eastern Europe: Trained other associates on Valuation, Deal Structuring, Writing Investment Memoranda, Pitch Letters, and Term Sheets. Helped the CEO in developing the Strategy of UVC Eastern Europe, which included strategic financial modeling, financial reporting, proposal of investment ideas, etc. Interviewed over twenty applicants for an associate position and found Nikolay Sergeev for the team.

4. 2001-2003 Fund’s Origination: Reviewed and explored over 50 Venture Capital projects and helped to save millions of dollars preventing poor investments in several highly tempting opportunities.

Troika Dialog (Investment Banking)

5. 2000 Buy/Sell Side Advice for Severstal: Provided creative analytical back-up for the MD helping to win the mandate. Performed market multiples valuation with new technique for country risk adjustment. Made road-show type presentation for one of Severstal executives that allowed him to win investors’ acclaim at an investment workshop and to be recognized as the best speaker. Explored and suggested several acquisition targets including ZMZ (engine manufacturer), suggested several targets in Russian Wood&Paper industry.

6. 2000 Buy side advice on acquisition of NTV: Performed comps valuation, developed and justified adjusted EV/viewer valuation multiple. Identified and stated key investment positives and negatives.

7. 2000-2001 Sell-side Advice to Russian Corporations: Performed numerous market multiples valuation of companies in industries including Foods and other FMCG, Metals, Industrial Equipment, Machinery, Wood&Paper. Wrote investment memoranda and teasers, drafted presentations.

Selected Publications  

17.10.03

www.2b.finam.ru

Absence of Majority Stake for Purchase Is Not an Obstacle for ProfMedia to Obtain Leadership in Strategic Niche    New joint venture with Independent Media allows ProfMedia to increase up to 75% its share in free cash flow, which the leader in professional magazines will generate for shareholders, without transfer of control over the joint business from the leader.
 

in Russian

25.06.03

www.2b.finam.ru

Acquisition of Interpulp Trading and Lessons of Norilsk Nickel Restructuring    The record of drastic conflicts, which Ilim Pulp Group has gone through consolidating assets into a single corporation with liquid shares, means that it is crucial for this company to formalize all the claims of the insiders on its free cash flow before placing shares to investing public in the stock market.
 

in Russian

29.05.03

www.2b.finam.ru

Synergies between Shipping Business and Wood&Paper Business in Russia?    Two leading shipping companies in Northern Russia and a few lumber producers in Arkhangelsk region have been put under control of Sevmorput Capital. Do the shipping assets enhance the lumber assets? Or is it more likely to be the-other-way-round?
 

in Russian

21.05.03

www.2b.finam.ru

Complicated way to simple ownership structure    Recent news on corporate restructuring of Ilim Pulp Enterprise demonstrate that the group has been building a united corporation to tap capital markets with grave determination. However the difficulties the group has overcome and is yet to overcome could probably have been avoided if they had hired capable investment bankers for this restructuring from the start. The restructuring will take at least two years more than it had been originally expected and sound corporate strategy if funded by money from big capital markets would have offset bankers' fees by tens and probably hundreds of million dollars in extra profits and capital gains.
 

in Russian

04.03.03

www.2b.finam.ru

Deal Revealing New Opportunities    Acquisition of 45% stake in Independent Media by Profmedia highlights recent improvements in investment quality of Russian media assets.
 

in Russian

30.01.03

www.2b.finam.ru

Demand for the Offered Stake in Magnitogorsk Steel Mill?  The 17% stake, which is going to be offered by the state, could hardly be of interest to private equity funds, and there are not many strategic acquirers ready to capitalize significantly on the opportunity.

in Russian

       

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