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问答题2.ThetreasurydepartmentofChawanCo,alistedcompany,aimstomaintainaportfolioofaround$360millionconsistingofequityshares,corporatebondsandgovernmentbonds,whichitcanturnintocashquicklyforinvestmentprojects.ChawanCoisconsideringdisposing27millionshares,valuedat$2·15each,whichithasinvestedinOdenCo.TheheadofChawanCo’streasurydepartmentisoftheopinionthat,shouldthedecisionbemadetodisposeofitsequitystakeinOdenCo,thisshouldbesoldthroughadarkpoolnetworkandnotsoldonthestockexchangewhereOdenCo’ssharesarelisted.Inthelastfewweeks,therehavealsobeenrumoursthatOdenComaybecomesubjecttoatakeoverbid.OdenCooperatesinthetravelandleisure(T&L)sector,andthepoorweatherconditionsinrecentyears,coupledwithacontinuingrecession,hasmeantthattheT&Lsectorisunder-performing.Overthepastthreeyears,salesrevenuefellbyanaverageof8%peryearintheT&Lsector.However,therearesignsthattheeconomyisstartingtorecover,butthisisbynomeanscertain.GivenbelowareextractsfromtherecentfinancialstatementsandotherfinancialinformationforOdenCoandtheT&Lsector.OdenCoYearending31May(allamountsin$m)Required:

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问答题Discuss the benefits and disadvantages of PMU entering into a joint venture instead of setting up independently in Kantaka.As part of your discussion,consider how the disadvantages can be mitigated and the additional information PMU needs in order to make its decision. (20 marks)