Consider the following scenario. SuperSodas, an international soft drink manufacturing company

of Latin American origin, recently acquired a 40% interest in a Southeast Asian bottler. SuperSodas'

stake was limited because laws in the Southeast Asian country prohibited companies that were more

than 40% foreignowned from acquiring real estate. Among the synergies projected by SuperSodas

was the estimated $87 million in total revenue enhancements (in today's value) if the Southeast

Asian bottler were to build another plant and market SuperSodas trademarked soft drinks in the

country's southern region, which was currently underserved. Purchasing land and building a new

plant would require an initial investment of $48 million. The government in the Southeast Asian

country has policies in place to promote investments in the southern region in the next 5 years. After

that, the government may switch its attention to the northern region. Is there an option embedded

in this acquisition and how might you go about valuing it (no calculation required)