4 resultados para Rainó, Päivi: Kiva nähdä


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A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics

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Dissertation submitted in partial fulfilment of the requirements for the Degree of Master of Science in Geospatial Technologies

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Siliceous rocks are widely used as dimension stone but the last decades have registered an increase rate of their alteration when exposed to polluted environments. Anorthosites were treated by acidified solutions of HCl, HN03 and H2S04 simulating acid rain and the response was recorded through different experiments such as on the surface of the polished rock and on the surface of uncovered thin sections. The main components, plagioclase and olivine, both responded in similar ways to each acid solution, although following different trends; while plagioclase develops a thin layer which acts as protection to the mineral, olivine at first undergoes alteration due to leaching of magnesium and iron and in a following stage, is mechanically removed from the rock. The action of warm water on the rock was tested through the use of the Soxhlet extractor which caused changes on the rock colour and leaching of several cations from its components.

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The main purpose of this case-study is to analyse CTT’s privatisation process, a previously Government-owned firm, which went public in 2013, under the terms of the adjustment program agreed between Portugal, the European institutions (ECB and European Commission) and the IMF. The emphasis will be placed on the IPO process, but also on the company itself (its history, current situation and prospects for its new phase, as a publicly listed company). This piece of work aims to evaluate the different alternatives for the privatisation of the company along with the respective implications, as well as the outcome of the actual decision taken by the Portuguese Government. One key aspect of the case is also to understand the importance that the privatisation of the Royal Mail, which can be seen as a peer of the Portuguese company, in the unfolding of the process and in the choice of the privatisation model. The case intends to show how the British process influenced the subsequent option of the Portuguese entities to sell CTT through an IPO, instead of a trade sale. All in all, the overall objective of this case-study is to analyse CTT’s successful sale process, which created the first Portuguese company with 100% free-float. 3 On the last days of November 2013, Steven Bernstein was staring at the window of his office overlooking downtown Manhattan, not even noticing the intense rain that was pouring down. As senior manager at ABC Fund, a pension fund responsible for managing more than 800 million dollars, his thoughts were focused on a very important decision that ABC Fund would have to make in just a matter of days. The American pension fund was considering whether or not to invest in the upcoming Initial Public Offering of CTT- Correios de Portugal, the Government-owned Portuguese mail company. Is this investment opportunity in accordance with the risk profile of a pension fund? Is it a wise decision to acquire shares in a Portuguese company when the country is at the centre of the European Sovereign debt crisis, going through a very demanding economic adjustment program imposed by its bail-out creditors? Would the creation of Portugal's Postal Bank make CTT a sure bet today when its price does not fully reflect the future benefits from entering financial services? Those were some of the questions that were constantly in Mr. Bernstein’s mind over the last couple of days and he was struggling to find the answers…