Emerging markets are challenging and require special expertise. India in particular is known to be a tricky business environment. The case follows two senior executives from Alvarez & Marsal’s India practice as they deal with an urgent request from one of their US private equity clients, Sapphire Capital.

This case deals with the issue of a joint-venture between a UK-based multinational textile company and a Tunisian, owner manager firm. The objective of the joint-venture is to upgrade the current facilities of the Tunisian firm in order to produce garments to be distributed by the UK firm.