Date post: | 04-Apr-2018 |
Category: |
Documents |
Upload: | nielsen-figueroa |
View: | 227 times |
Download: | 0 times |
of 24
7/30/2019 4 Cleopatra Case
1/24
I N T E R N A T I O N A L !
!"#071
,-*./-&'-0&&'
1234567$853"23!97:*1372856;5*
!"#$% &'$(% )'$% *+(*'+(,% -.%
/+01($$0+%2'3,+'%4'3,(+5(+)(6%
)#7"% 7"(%'$$#$7'3&(% 01%89%:'+7(+%
/0)#$%;6%?
7/30/2019 4 Cleopatra Case
2/24
I N T E R N A T I O N A L
! F!J!F! QOMFRFGSTS!
6?=@A! :&=! A)/=.! )'./;(+,$(! )'! 3/&',$! )'! U;0$D4$/! 678VC! K5! O&5! .#$!A;**;:)'1!5$&/!.#$!4/&'(!#&(!/$&,#$(!&'!&D&2)'1!D&/).$!).=!
JSW! >/),$! >/$D)+D! ,;D>&/$(! .;! ;.#$/! 4/&'(=C! Q'! A&,.?! %;*1&.$FI&*D;*)0$P=!4)11$=.!>/;4*$D!:&=! )'1!+>! :).#!($D&'(C!K5!.#$! $'(!;A! 678R?!D&/!.;!6RWC!%*$;>&./&!#&(!&,.+&**5!4$,;D$!.#$!'+D4$/!;'$!4/&'(!)'!3/&',$C!!
"#$!=+,,$==!)'!3/&',$!/$,$)0$(!&!1/$&.!($&*!;A!>+4*),).5!:).#)'!.#$!;/1&')2&.);'C!B',;+/&1$(! 45! .#$! $->$/)$',$?! .#$! XL*;4&*! O&/$,)&**5! 3/$',#F=>$&(&.$! D$$.)'1! )'! U$:! Z;/
7/30/2019 4 Cleopatra Case
3/24
I N T E R N A T I O N A L
! F!S!F! QOMFRFGSTS!
"#$! /$=$&/,#! ,;'A)/D$(! .#$! A$$*)'1=! ;A! H.$0$! K;5(! &'(! D;=.! ;A! .#$! D&/>;/.+').5C!"#$5!:;+*(!>;=).);'!%*$;>&./&!&=!.#$!>/$D)+D!@+&*).5?!
>/$D)+D!>/),$(!=;&>!&'(!()AA$/$'.)&.$!).!A/;D!&**!.#$!;.#$/=C!"#$5!:&'.$(!.;!&0;)(!#&0)'1!&!>/),$!:&/!&.!&**!,;=.=C!
LHP=*QIARS?HM@K*H@*1HGSIF=$8IGPHGD,=*1I@IKI*
%;*1&.$FI&*D;*)0$?! &! D+*.)'&.);'&*! ,;'=+D$/! >&,;/&.);'!;>$/&.)'1! )'! R8! ,;+'./)$=?! D&/$/=;'&*! ,&/$! &'(! #;+=$#;*(!
>/;(+,.=!:;/*(:)($C!c).#! &''+&*!=&*$=! ;A! dRCT! 4)**);'?!D&'5!;A! ).=! 4/&'(=!:$/$!1*;4&*! *$&($/=C! 3;/! $-&D>*$?! %;*1&.$! .;;.#>&=.$! :&=! '+D4$/! 6?! &'(! I&*D;*)0$!=;&>!:&=!'+D4$/!J!)'!.#$!:;/*(!)'!.#$)/!/$=>$,.)0$!D&/$.).;/=?! I/;,.$/! e!L&D4*$! &'(! f$0$/?! 4;.#! d6! 4)**);'! =+4=)()&/)$=! ;A! .#$)/! >&/$'.! ,;D>&')$=?! .#$5!(;D)'&.$(! .#$! &11/$==)0$! &'(! )'';0&.)0$! >$/=;'&*! ,&/$! &'(! #;+=$#;*(! D&/$/=;'&*!,&/$!&'(!#;+=$#;*(!>/;(+,.=!)'=)($!%&'&(&!&'(!&*=;!=+>>*)$(!4/&'(=!.;!.#$!g').$(!H.&.$=!&'(!I+$/.;!h),;C!"#$!D&i;/!>/;(+,.=!D&/;;! \/,.),!I;:$/!M$.$/1$'.!!
Q/)=#!H>/)'1!H;&>! 3&4!M$.$/1$'.!
I&*D;*)0$!H;&>! K&11)$=!3;;(!c/&>!
%&=#D$/$!K;+@+$.! \i&-!%*$&'=$/!
%*$;>&./&!H;&>! \i&-!\**FI+/>;=$!f)@+)(!!
"#$!%;*1&.$FI&*D;*)0$!#$&(!;AA),$!&'(!A&,.;/5!:$/$!4;.#!*;,&.$(!)'!&!4+)*()'1!)'!";/;'.;C! H&*$=! ;AA),$=! :$/$! )'! $&,#! ;A! .#$! =)-! D&i;/! /$1);'=! &,/;==! %&'&(&?!'&D$*5! .#$! O&/).)D$=?! [+$4$,?! ^'.&/);?! .#$! I/&)/)$=?! \*4$/.&?! &'(! K/).)=#!%;*+D4)&C!!
7/30/2019 4 Cleopatra Case
4/24
I N T E R N A T I O N A L
! F!V!F! QOMFRFGSTS!
O&/;'=)4*$!A;/!&!4/&'(!;/!1/;+>!;A!4/&'(=?!/$>;/.)'1!.;!&!1/;+>!>/;(+,.!D&'&1$/!:#;!)'!.+/'!:&=!/$=>;'=)4*$!.;!.#$!NI!D&/*&'')'1!&'(! $-$,+.);'?!A/;D! D&//;D;.);'C!"#$!>/;(+,.!D&'&1$/=!D&($!=+/$!.#&.!.#$)/!4/&'(=!/$,$)0$(!.#$!'$$($(!/$=;+/,$=!A/;D!.#$!#$&(!;AA),$C!!
6$.).);'!:;+*(!,;'.)'+$!&.!.#$!=.;/$!*$0$*?!:#$/$!*)D).$(!=#$*A!=>&,$!:&=!&.! &! >/$D)+DC! K$,&+=$! ;A! .#$! )'.$'=$! ,;D>$.).);'?! /$.&)*$/=! :$/$! &**F>;:$/A+*C!"#$5!*).$/&**5!,;+*(!>),/;D;.$?!:#),#!>/),$=!.;!,+.!&'(!.#$!&**;,&.);'!;A!=#$*A!=>;.=C!
"#$/$!:$/$!=;D$!1;;(!/$&=;'=!:#5!,;D>$.).);'!:&=!=;!A)$/,$E!
6C! N;*+D$!1/;:.#!)'!.#$!D&/;>+*&.);'!j6CGWF6CRW!&''+&**5kC!U;!A+/.#$/!/&>)(!$->&'=);'!:&=!$->$,.$(C!
JC! "#$/$!:$/$!D&'5!'$:! 4/&'(=! &'(!'$:! 0&/)&'.=! ;A! $-)=.)'1! 4/&'(=?!:#;=$!
;'*5! D$.#;(! ;A! =+/0)0&*! :&=! .;! =.$&*! =#&/$! A/;D! ;.#$/! >/;(+,.=! )'! .#$!D&/!:$/$!4&=$(!;'!>/),$C!"#$/$!:$/$!6R!D&)'=./$&D!4/&'(=?!&*;'1!:).#!JGFJR!D)';/!;'$=?!A)1#.)'1!.;!4$,;D$!;'$!;A!.#$=$!X&,,$>.&4*$Y!,#;),$=C!
9C! "/$'(=! .;:&/(! *&/1$/! 4+'(*$! >&,$(! jD;/$! .#&'! ;'$! 4&/! ;A!=;&>!>&,&,
7/30/2019 4 Cleopatra Case
5/24
I N T E R N A T I O N A L
! F!R!F! QOMFRFGSTS!
TC! %;D>$.).);'! :&=! 4&=$(! ;'! >/),$?! &=! .#$/$! :$/$! ';! /$&*! ,;D>$.).)0$!&(0&'.&1$=! ;/!D$&')'1A+*! ()AA$/$',$=! &D;'1! D;=.!4/&'(=?!&'(!4$,&+=$!;A!)',/$&=$(!>/$==+/$!A/;D!.#$!/$.&)*!./&($!.;!D$$.!,;D>$.).)0$!($&*=!&'(!>/),$=C!
8C! f)@+)(! =;&>=! #&(! $'.$/$(! .#$! D&/!)=!&!=;&>!)=!&!=;&>Y!:).#!A$:!>$/,$)0&4*$!()AA$/$',$=!&D;'1! 4/&'(=C! K;D4&/($(! 45! &(0$/.)=)'1! )'! $0$/5! ,;',$)0&4*$! .5>$! ;A! D$()&?!,;'=+D$/=!D&)'*5!4;+1#.!.#$!!X&,,$>.&4*$!4/&'(=Y!;'!>/),$C!"#$/$A;/$?!4$,;D)'1!&'(! =.&5)'1! &'! X&,,$>.&4*$! 4/&'(Y! :&=! :#$/$! .#$! ;'1;)'1! ,;D>$.).)0$! 4&..*$!&D;'1!.#$!0&/);+=!4/&'(=!.;;*&,$C!!
"#$! D&/=E! .#$! =$.$(!)'!&**!.#/$$!D&/?! D&($! $=>$,)&**5! A;/! D$'?! ()(! :$**! )'! .#$! D&*$! D&/
7/30/2019 4 Cleopatra Case
6/24
I N T E R N A T I O N A L
! F!9!F! QOMFRFGSTS!
&**;:$(!).!.;!D&$,)&*!,*&)D=!&1&)'=.!;.#$/!4/&'(=?!=+,#!&=!X!).!/)'=$=!,*$&'!&'(!(;$='P.!*$&0$!&!=;&>5!A)*DCY!
6;>+*&.);'k!&/$!,*+=.$/$(!.#/;+1#;+.!.#$!=;+.#$/'!>;/.);'!;A!.#)=!)DD$'=$!/$1);'?!:#),#!)=! J!6lJ!.)D$=!.#$!=)2$!;A!3/&',$C!!!
g'*)/;0)',$=?! :#),#! #&0$! K/).)=#! &',$=./5?! D;=.! ;A! [+$4$,P=!>;>+*&.);'! ,&D$! ;/)1)'&**5! A/;D! 3/&',$C! Q'! A&,.?! ;0$/! 8GW! ;A! .#$! JCS! D)**);'!#;+=$#;*(=!)'![+$4$,!*)=.!3/$',#!&=!.#$)/!D;.#$/!.;'1+$C!U$$(*$==!.;!=&5?!:).#!.#)=!+')@+$!,+*.+/$?!D&/! D&//;>;/.);'!.;!.#$!,;+'./5P=!.;.&*!>;>+*&.);'C!"#$!D&i;/!
4/&'(=!&'(! .#$)/!>;=).);'=!)'! .#$! [+$4$,!D&/;;/*5!4$,&+=$![+$4$,!)=!D&)'*5!&! =;A.! :&.$/!D&/>/;&,#!:&=!0$/5! ()AA$/$'.! A/;D! .#$!)'(+=./5!';/D?! :#$/$! D&'+A&,.+/$/=!./&().);'&**5!#&(!.;!>&5!*&/1$!=+D=!;A!D;'$5!.;!/$.&)*$/=!i+=.!.;!1$.!.#$!>/;(+,.!*)=.$(!)'!.#$)/!X&,,;+'.=!;/($/!4;;
7/30/2019 4 Cleopatra Case
7/24
I N T E R N A T I O N A L
! F!T!F! QOMFRFGSTS!
()=,;+'.=!&'(!&**;:&',$=!.;!#&0$!&!=#;:)'1!)'!.#$!/$.&)*$/=P!:$$&5D$'.=?! ).! :&=! ,/).),&*! A;/! %;*1&.$FI&*D;*)0$!.;!D&/;D;.);'!=,#$(+*$!A;/!.#$!*&+',#C!
"#$!;4i$,.)0$!=$.!45!.#$!,;D>&'5!:&=!&D4).);+=E!&!VCRW!D&//$=$',$?!($A)'$(!&=!.#$!=&D$!'+D4$/!;A!A&,)'1=!&=!.#$!,+//$'.!=$1D$'.!*$&($/!M;0$b!>/;>$/!=#$*A! >;=).);')'1?! :#),#! D$&'.! 4$)'1! '$-.! .;! M;0$b! &'(?! A)'&**5?! D&)'.&)')'1!%*$;>&./&P=!>/$D)+D!>/),)'1!=./&.$15C!
";!D&
7/30/2019 4 Cleopatra Case
8/24
I N T E R N A T I O N A L
! F!8!F! QOMFRFGSTS!
,+//$'.! 4/&'(=! ;'!.#$! D&/=.&$=! .#&.! .#)=!
>/;D;.);'!:;+*(!=.)D+*&.$!)'.$/$=.!)'!.#$!4/&'(C! "#$!>/;D;.);'!4$1&'!)'! \+1+=.!&'(!$'($(!:).#!.#$!(/&:!)'!$&/*5!`&'+&/5!678TC!
H)',$! %*$;>&./&! #&(! 4$$'! >;=).);'$(! &=! .#$! >/$D)+D! @+&*).5! 4/&'(!)'! =;&>?! ';!()=,;+'.=! :$/$! ;AA$/$(C! H)'1*$! ,&/.;'=! :$/$! >&,/),$! ;A!dV6CT6C!%*$;>&./&P=!>/),)'1!=./&.$15!:&=!.;! 4$!#)1#$/!.#&'!M;0$?!#)=.;/),&**5!.#$!D;=.!$->$'=)0$!4/&'(C!;:05*'+'7#G(%*+#&($%'+(%$"0)3%#3%%718980$A9D!
"#$!>/;(+,.!).=$*A!#&(!4$$'!($0$*;>$(!)'!3/&',$?!:).#!';!,#&'1$=!D&($!A;/!.#$!%&'&()&'!D&/!D&($!45!.#$! ,;D>&'5! )'! %&'&(&C! Q.=! +')@+$! A;/D+*&.);'! ,;'.&)'$(! .#$! 4$=.! )'1/$()$'.=?!)',*+()'1! .#$! $@+)0&*$'.! ;A! 6RW! 4$&+.5! ,/$&D?! :#),#! ($*)0$/$(! &! /),#?! ,/$&D5!*&.#$/!&'(!:&=!';.),$&4*5!=;A.!;'!.#$!=/;(+,$! &'! +'A;/1$..&4*$!A/&1/&',$CY! "#$! =;&>! :&=! &*=;! ,&/0$(! )'.;! &! =>$,)&*! =#&>$!.;!D&/;(+,.?!.;! ,;'A;/D!:).#!.#$!;.#$/!4/&'(=C!
B&,#!4&/!;A!=;&>!,&D$!)'!).=!;:'!1;*(F,;*;/$(!*&D)'&.$(!,&/.;'?!&!()AA$/$',$!A/;D!3/&',$!:#$/$!).!:&=!:/&>>$(!)'!>&>$/C!"#$!*&D)'&.$(!D&.$/)&*!:&=!+')@+$!&=!).!';.!;'*5!/$A*$,.$(!*)1#.!:#),#!D&($!).!=.&'(!;+.!&1&)'=.!.#$!;.#$/!4/&'(=!;'!.#$!=#$*0$=?!4+.!).!&*=;!>/$0$'.$(!.#$!>$/A+D$!A/;D!$=,&>)'1C!
6!D&/
\A.$/!6S!:$$
7/30/2019 4 Cleopatra Case
9/24
I N T E R N A T I O N A L
! F!7!F! QOMFRFGSTS!
K5!.#$!$'(!;A!.#$!>/;D;.);'!>$/);(?!.#$!3/$$!K&/!%;+>;'!#&(!4$$'!()=./)4+.$(!.;!#;+=$#;*(=!.#/;+1#;+.![+$4$,?!&'(!J6W!;A!.#$!,;+>;'=!#&(!4$$'!/$($$D$(C!"#$!=:$$>=.&$;>*$!#&(!$'.$/$(!45!.#$!M$,$D4$/!($&(*)'$C!
O&/&'$*=!:$/$!,#;=$'!A/;D![+$4$,E!
&!/&'(;D!=&D>*$!;A!JGV!,;'=+D$/=!! &'!;0$/=&D>*$!;A!77!%*$;>&./&!X./)$/=Y!
^0$/! 7G! @+$=.);'=! :$/$! &=&/.!;A!.#$!3/$',#!,+*.+/$C!c#5!#&=!.#$!4/&'(!A*;>>$(!=;!4&(*5aY!
H.$0$!:&=!($$>!)'!.#;+1#.C!3;/!%*$;>&./&!.;!=+,,$$(!&=!&!D&i;/!4/&'(!)'![+$4$,!&'(! >$/#&>=! &*=;! )'! &**! ;A! %&'&(&?! &=! .#$! XL*;4&*! O&/&./&!*&5!;'!.#$!.&4*$C!I/;(+,.!O&'&1$/!_$'!`;#'=;'!&'(!\==)=.&'.!I/;(+,.!O&'&1$/!H.&'!];+=$!#&(!4$$'!;0$/!.#$!/$=$&/,#!:).#!#)D!
.;!./5!&'(!=;*0$!.#$!%*$;>&./&!/)((*$C!K+.!.#$5!,;+*(!';.!&1/$$!&4;+.!:#&.!=#;+*(!4$!(;'$C!!
_$'!:&'.$(!.;!=,/&>!.#$!4/&'(C!]$!=&)(!.#&.!%*$;>&./&!:&=!i+=.!>*&)'!:/;'1!A;/!%&'&(&!&'(!=#;+*(!'$0$/!#&0$!4$$'!*&+',#$(!.#$/$!)'!.#$!A)/=.!>*&,$C!"#$/$!:&=!';!
>;)'.!*$..)'1!D;/$!1;;(!D;'$5!,#&=$!&!*;=$/C!
7/30/2019 4 Cleopatra Case
10/24
I N T E R N A T I O N A L
! F!6G!F! QOMFRFGSTS!
H.&'!:&=!&(&D&'.!.#&.!:#&.!.#$!4/&'(!'$$($(!:&=!.)D$C!]$!&,,+=$(!_$'!;A!4$)'1!=#;/.=)1#.$(!&'(!)D>&.)$'.C!Q.!:&=?!#$!A$*.?!.;.&**5!+'/$&*)=.),!.;!$->$,.!&!'$:!4/&'(!.;!=+,,$$(!;0$/')1#.?!&'(!%*$;>&./&!#&(!;'*5!4$$'!;'!.#$!D&//;>;=$(!/$.#)';=).);'$(!&=!&!=.);'=E!!
6k! \(D).!($A$&.!&'(!()=,;'.)'+$!.#$!4/&'(b!
Jk! %;'.)'+$!.#$!=./&.$15!:).#!D)';/!D;()A),&.);'=?!)A!'$,$==&/5?!&'(!./5!.;!1$.!&!VCRW!D&/>;/.b!
Sk! \*.$/!.#$!=./&.$15!;/!$0$'!.#$!>/;(+,.!).=$*AC!
]$!,;+*(!';.!#$*>!A$$*)'1!.#&.!#$!=#;+*(!./5!.;!A)'(!&!:&5!.;!D&&./&!:;/
7/30/2019 4 Cleopatra Case
11/24
INT
ERNAT
IONAL
!
F66F
QOMFRFGSTS
B-#)4).6
1372856;5L258
! !
7/30/2019 4 Cleopatra Case
12/24
I N T E R N A T I O N A L
! F!6J!F! QOMFRFGSTS!
B-#)4).!J!
1372856;5*L258*
"5;[76*L74"7\6L*5\#*Q;5\#*5#97;6!L!\4*135!"L*
.U/V*!!2(H5(37% =+'3,% >,G(+7#$#3H%:0*.%:E'#5%
% % %2T#3%:'+(% M;0$! 3;/!=;A.$/?!=D;;.#$/!=$/A+D$!% \*;$!e! !% !!!f&';*)'! L;;(!A;/!=
7/30/2019 4 Cleopatra Case
13/24
I N T E R N A T I O N A L
! F!6S!F! QOMFRFGSTS!
B-#)4).!S!
1372856;5*L258*
156742;]*"5;[76*LT5;7L*).+*
!![+$4$,! 678R! 6789! 678T!Z"M!jJk! ! ! !:XSY>!JC/>S/)'1! 9CJ! 9CG! 9CR!I&*D;*)0$! SCT! SC9! 9CV!%&=#D$/$!K;+@+$.! SCS! SCV! JC8!%*$;>&./&! G! GC7! 6C6!"^"\fE! 6SCJ! 6SC7! 69C8!! ! ! !SJ4JW% % % %
f+-! VCS! 9CG! 8CS!M;0$! TC6! 7C9! 6GC8!%&/$==! 6CR! 6CT! JC7!^.#$/! SC7! JCT! 6CJ!"^"\fE! 69C8! JGCG! JSCJ!! ! ! !/WX:!JW%Z%Y>$/);(=!F!M$,$D4$/l`&'!&'(!3$4/+&/5lO&/,#C!
!!H;+/,$E!%;*1&.$FI&*D;*)0$!%&'&(&!
7/30/2019 4 Cleopatra Case
14/24
I N T E R N A T I O N A L
! F!6V!F! QOMFRFGSTS!
B-#)4).!V!
1372856;5*L258*
67379!L!2\*12""7;1!53*
!!
%*$;>&./&?!!!
!
"#$!'&D$!)=!*)'.C!!!
!
,/$&D!&'(!>$/A+D$n!!!!
n/),#!&=!&!,/$&D?!!
!!
&!'$:!=;&>!.#&.!D)1#.!:$**! ,#&'1$! .#$! A&,$!;A!.#$!:;/*(C!!
!
%*$;>&./&?!$.$/'&*!:;D&'?!#;*($/!;A!&**!=$,/$.=C!
!
n%*$;>&./&C!!!!
=$'=+&*!&=!&!>$/A+D$n!!!
%*$;>&./&C!\!'$:!=;&>C!"#$!=$,/$.!;A!4$&+.5C!!
!
7/30/2019 4 Cleopatra Case
15/24
I N T E R N A T I O N A L
! F!6R!F! QOMFRFGSTS!
B-#)4).!R!
1372856;5*L258*
12"85;56!97*8;!17L*
!!
! 1G=HCIF?I* #H,=*! * *
%&=$!=)2$!j6k! V8!o!6VG!1! V8!o!6VG!,!
%&=$!I/),$! dV6CT6! dS7CTJ!
g').!%;=.! dGC8T! dGC8S!
h$1+*&/!H$**)'1!I/),$! d6CJ7! d6C67!
^AAFQ'0;),$!\**;:&',$! FFF! dSCGG!
M$&*!g').!%;=.! FFF! dGCTT!
3$&.+/$!I/),$! FFF! dGC77!
!!!
j6k!! M;0$!)=!&*=;!&0&)*&4*$!)'!&!":)'>&,
!!!
!!!!
U;.$E! "#$!&0$/&1$!D&'+A&,.+/$/p=!>/),$!A;/!%*$;>&./&!:&=!8T!,$'.=!>$/!=)'1*$!4&/?!,;D>&/$(!.;!&'!&0$/&1$!D&'+A&,.+/$/p=!>/),$!;A!S6!,$'.=!>$/!=)'1*$!4&/!A;/!&**!.;)*$.!=;&>=C!
!!!
7/30/2019 4 Cleopatra Case
16/24
INT
ERNAT
IONAL
!
F69F
QO
MFRFGSTS
B-#)4).9
1372856;5L258
87;>
2;"5\17$62$#567
! ! [+$4$,
!
6789
3$4C
O&/C
\>/C
O&5
`+'$
`+*5
\+1C
H$>C
^,.C
U;0C
M$,C
678T
`&'C
3$4C
O&/C
H#)>D$'.=j,&=$=kE
!
3;/$,&=.jGGG=k
S
CG
RCG
RCG
6RCG
6RCG
9CG
RCG
6GCG
TCG
7CG
6GCR
8CG
TCR
TCR
\,.+&*jGGG=k
S
C9
SCG
GCV
JCR
JC6
6CS
GC9
GC7
6CS
GCT
6CT
6C7
GC7
6CJ
W\,#)$0$(
6
JG
9G
8
6T
6
V
JJ
6J
7
67
8
69
JV
6J
69
O&/$'().+/$=! d! 767 6VG! !! W! 6J6CT 8SC8! !! ! ! !%;'./)4+.);'!jRk! d! jVVJk jSJk! !! W! jR8CRk j67CJk! !
!!!!!!
6k! Q',*+($=!()/$,.!>/;(+,.!,;=.=?!A/$)1#.l:&/$#;+=)'1!$.,C!Jk! Q',*+($=!&**!$->$'().+/$=!()/$,.$(!.;!.#$!/$.&)*!./&,$C!Sk! Q',*+($=!&**!,;'=+D$/!>/;D;.);'!$->$'().+/$=C!Vk! Q',*+($=!,;=.=!;A!($0$*;>)'1!&!,;DD$/,)&*!>*+=!&)/F.)D$C!Rk! %;'./)4+.);'!.;:&/(=!F*;,&.$(!;0$/#$&(=!&'(!;>$/&.)'1!>/;A).C!!!!!
H;+/,$E!%;*1&.$FI&*D;*)0$!%&'&(&!
!
7/30/2019 4 Cleopatra Case
18/24
INT
ERNAT
IONAL
!
F68F
QOMFRFGSTS
B-#)4).8
1372856;5L258
LT73>82L!6!2\
! H;+/,$E%;*1&.$FI&*D;*)0$
%&'&(&
7/30/2019 4 Cleopatra Case
19/24
I N T E R N A T I O N A L
! F!67!F! QOMFRFGSTS!
B-#)4).!7!
1372856;5*L258*
12\LW"7;*;7L75;1T*
!!!
[+$4$,! K/&'(=!j";.&*!h&'(;D!H&D>*$k!j6k!
! ! ! ! ! !
!\*;$!e!f&';*)'!
!%&D&5!
!%*$;>&./&!
!M;0$!
!I&*D;*)0$!
! ! ! ! ! !
K/&'(!\:&/$'$==!jJk!jWk! RVCV 78CR TSCR 77CR! 79C6
K/&'(!Q'F];D$!jSk!jWk! SCR 6RCJ 9C7 JSC7! TCV
B0$/!"/)$(!jVk!jWk! 6JCS 89CS 6VCJ 8SCR! 9RCJ
K/&'(!g=$(!jRkE! !
!!!!!!!!\**!^A!"#$!")D$!jWk! 6CR 8CS JC7 6JCS! SC7
!!!!!!!!O;=.!^A!"#$!")D$!jWk! GCR SC7 6CR RCV! SC7
!!!!!!!!^,,&=);'&**5!jWk! TCV VTC9 8C8 V9C9! S9CS
!!!!!!!!H.;>>$(!g=)'1!jWk! JC7 J9CR 6CG 67CJ! J6C6
!!!j6k!! ";.&*!h&'(;D!H&D>*$!F!JGV!/$=>;'($'.=C!jJk!! [+$=.);'!E!]&0$!5;+!$0$/!#$&/(!;A!nnnCa!jSk! [+$=.);'E!c#&.!4/&'(=!(;!5;+!#&0$!)'!5;+/!#;D$!';:!a!jVk!! [+$=.);'E!]&0$!5;+!$0$/!./)$(!nnnCa!jRk!! [+$=.);'E!M;!5;+!+=$!nnnCa!QA!5$=?!:;+*(!5;+!=&5!5;+!+=$!).!! &**!;A!.#$!.)D$?!D;=.!;A!.#$!.)D$?!;/!;,,&=);'&**5!a!QA!';?!()(!
! 5;+!+=$!nnnC!&.!=;D$!.)D$!)'!.#$!>&=.!a!!!!H;+/,$E!"/&,
7/30/2019 4 Cleopatra Case
20/24
INT
ERNAT
IONAL
!
FJGF
QOMFRFGSTS
B-#)4).6G
1372856;5L258
12
\LW"7;;7L75;1T
[+$4$,E
K/&'(=K$=
.3;/nYj6k
\../)4+.$q;Ah$=>;'($'.=k
!
K$)'1L;;(
N&*+$3
;/
!
O;'$5
K$)'1O)*(
\'(
!
L$'.*$
]&0)'1\
h),#?
%/$&D5
!f&.#$/
]&0)'1\
I*$&=&'.
!3/&1/&',$
O;)=.+/)2)'1
Z;+/
!
H&./&
6G
SG
8
SS
JT
R6
J6
RS
6R
S6
9
JS
JG
V7
M;0$
J9
6S
RS
J7
9S
S6
R6
69
S7
JG
V7
J6
98
JV
I&*D;*)0$
S9
68
JG
R
6J
R
67
7
7
S
VS
67
67
V
\**
J9
6G
R
R
67
J
J7
R
J
V
9
R
R
8
U;'$
JJ
T
J8
8
8
G
9
J
S8
67
JR
6J
6R
J
M;'P.*$sJGV/$=>;'($'.=C
jSk
%*$;>&./&"/)$/H&D>*$j>$;>*$:#;#&0$./)$(%*$;>&./&)'.#$*&=.9D;'.#=ks77/$=>;'($'.=C
!
U;.$E.#$J=$.=;A(&.&&/$A/;D=$>$/&.$>&'$*=j)$C.#$77%*$;>&./&./)$/=&/$';.)',*+($(
!
)'.#$";
.&*h&'(;DH&D>*$;AJGV/$=>;'($
'.=kC
! H;+/,$E"/&,*$! j>$;>*$! :#;! #&0$! ./)$(! %*$;>&./&! )'! .#$! *&=.! 9!
D;'.#=k!s!77!/$=>;'($'.=!jSk! VJ!/$=>;'($'.=!#&(!';!()=*)$/A+D$! )=! >$/,$)0$(! .;! 0&/5!
()/$,.*5!:).#!.#$!,*$&')'1!=./$'1.#!&'(!#&/=#'$==!;A!.#$!>/;(+,.C!!!H;+/,$E!"/&,
7/30/2019 4 Cleopatra Case
22/24
I N T E R N A T I O N A L
! F!JJ!F! QOMFRFGSTS!
B-#)4).!6J!
1372856;5*L258*
12\LW"7;*;7L75;1T*
!!L2>YJ%;@D%!! W!;A!h$=>;'($'.=!!R0%^0F%/E'3%X3%=F.#3H%:E(0*'7+'%>H'#3%_%!h$1+*&/*5! JT!^,,&=);'&**5! 99!
U;!)'.$'.);'!.;!4+5!&1&)'! T!!!
R0%^0F%L$(%:E(0*'7+'%JG(+.%R'.%_%;`D%!Z$=! V6!
U;! R7!!!a"'7%/'+7%X1%!"(%=0,.%R0%^0F%L$(%:E(0*'7+'%X3%_%!3&,$!;'*5! S!K;(5!;'*5! T9!3&,$!&'(!4;(5! J6!!!a"0%L$($%:E(0*'7+'%?3%^0F+%K0F$("0E,%_%!Z;+/=$*A!;'*5! 9R!^.#$/=! SR!!!K0)%X17(3%R0%^0F%L$(%:E(0*'7+'%_%!h$1+*&/*5! SS!^,,&=);'&**5! 9T!!!j6k! [+$=.);'=!&=&./&!)'!.#$!*&=.!9!D;'.#=!
j%*$;>&./&!"/)$/!
! H&D>*$!F!77!/$=>;'($'.=kC!jJk! H#;:$/=!;+.'+D4$/!4&.#=!V!.;!6!)'!.#$!>/;0)',$!;A![+$4$,C!!!H;+/,$E!"/&,
7/30/2019 4 Cleopatra Case
23/24
I N T E R N A T I O N A L
! F!JS!F! QOMFRFGSTS!
B-#)4).!6S!
1372856;5*L258*
12\LW"7;*;7L75;1T*
!!>R4JW!?2?QY%% W!;A!h$=>;'($'.=!jJk!l=;&>!A;/!:;D$'! JJ!Q.p=!>$/A+D$(l,;'.&)'=!>$/A+D$! 68!Q.p=!D)*(l&!D)*(!=;&>lD)*(!&=!D)*&./&l4$&+.5!*)'&./&lB15>.)&'=!*)'17(+%2((#3H%>,G(+7#$#3H%;]D%
I;=).)0$! V6!U$1&.)0$! 6S!U;!/$&,.);'! V9!!!?37(37#03%!0%!+.%:E(0*'7+'%>17(+%2((#3H%>,G(+7#$#3H%;bD%
Z$=! ST!U;! 9S!!!j6k! [+$=.);'E!M;!5;+!/$,&**!%*$;>&./&!&(0$/.)=)'1!a!QA!5$=?!:#&.!:$/$!.#$!D&)'!
>;)'.=!;A!.#$!&(!a!jJk! U+D4$/!;A!/$=>;'($'.=!;+.!;A!.#$!";.&*!h&'(;D!H&D>*$!:#;!/$,&**$(!
%*$;>&./&!&(0$/.)=)'1!s!6J8C!jSk! [+$=.);'E!c#&.!)=!5;+/!/$&,.);'!.;!%*$;>&./&!a!jVk! [+$=.);'E!M;!5;+!)'.$'(!.;!./5!%*$;>&./&!a!!
!U;.$E![+$=.);'=!S!&'(!V!:$/$!&=*$!:#;!#&(!=$$'!.#$!&(0$/.)=)'1!4+.!:#;!#&(!';.!./)$(!%*$;>&./&!&.!.#$!.)D$!;A!.#$!=.+(5C!!!H;+/,$E!"/&,
7/30/2019 4 Cleopatra Case
24/24
I N T E R N A T I O N A L
! F!JV!F! QOMFRFGSTS!
B-#)4).!6V!
1372856;5*L258*
12\LW"7;*;7L75;1T*
!!!W?>S%% W!;A!h$=>;'($'.=!!a".%K'G(3c7%^0F%!+#(,%:E(0*'7+'%_%;@D%
U;.!&0&)*&4*$!:#$/$!Q!=#;>! J7!]&0$'p.!'$$($(!&'5!=;&>! J6!";;!$->$'=)0$! 67!]&>>5!:).#!D5!>/$=$'.!4/&'(! 67!]&=!.;;!D+,#!>$/A+D$!)'!).! 69!Q!(;'p.!.#)';'! 9!Q.p=!'$:! V!M;'p.!!6G!/$=>;'=$=!&/$!=#;:'!#$/$C!!!!!!!!
!!!!!!j6k! [+$=.);'E!c#5!#&0$'p.!5;+!./)$(!%*$;>&./&!H;&>!a!j\=