Harvard Business School Case :
Identifying & realizing Investments in E Europe

St GEORGE’s MILLS COMMERCIAL Ltd

 Time of Investment
1997 
 Time of Exit
1999 
 Sector & Segment
Cereals’ Processing & Products 
 Region & Countries
Romania & Georgia 
 Stage of Investment at Entry
Early 
 Funds Invested
4.8 million $US 
 Cash Proceeds
10.0 million $US 
 Multiple of Invested Capital
2.1x 
 IRR Realized
68% 
 

St George’s Mills Commercial ( SGMC ) was a joint venture between Emporiki VC and St George’s
Mills SA -at the time, the leading four milling company in Greece-, for developing the cereals’
processing & products industry in SE Europe.

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