Course Details

Structuring Transactions: Large Scale Privatizations

This course will focus on the increasing use, both domestically and internationally, of public-private partnerships (PPP) to structure transactions to build and operate major infrastructure: airports, ports, roads, transit lines, public parking facilities, water systems. The course will be taught by John Schmidt, with assistance of colleagues at Mayer Brown, who have been involved in almost all major PPP transactions in the U.S. The course will begin by examining PPP transaction structures and will then explore how these structures have been used in specific PPP transactions. The course will deal both with PPP transactions that have succeeded--such as the 2013 privatization of the San Juan airport, the long-term leases of the Chicago Skyway and Indiana Toll Road, new and expanded toll roads in Texas and Virginia, Denver's new Fastracks transit line, and privatized port terminals in Portland and Baltimore--and ones that failed or are still in progress-such as the City of Chicago's 2008 and 2013 efforts to privatize Midway Airport, Pennsylvania's unsuccessful attempt to lease the Pennsylvania Turnpike, privately built toll roads in California that produced political backlash and financial failure and Brazil's effort to privatize its major airports in time for the 2016 Olympics. We will analyze the legal aspects of these unique transactions while also addressing the political and public relations challenges they present. Additionally, the class will feature guest speakers that have been involved in some of the world's largest PPP transactions. Registration Requirements: No prerequisites but the students would find the following courses helpful: State & Local Government and Mergers & Acquisitions Evaluation Methods:Students will write a paper on a transaction--successful, unsuccessful or still in progress--that describes the transaction structure, identifies key elements and analyzes factors that led to success or failure. If students prefer they can do this work and produce the paper as a team. Starting in the 6th week a draft student paper will be presented and discussed in class each week. The paper and presentation will comprise 80% of the overall grade and class participation will account for 20%. Students who would like to complete the 2 draft writing requirement and earn one additional credit hour in this course will be able to self-enroll in the associated LAWWRT 602 Section 17 course section (class nbr 18797) during open enrollment August 26-September 25, 2015. Students who would like to complete the 3 draft writing requirement and earn one additional credit hour in this course will be able to self-enroll in the associated LAWWRT 603 Section 17 course section (class nbr 18779) during open enrollment August 26-September 25, 2015. Course Materials: Course Materials will be provided.

Catalog Number: BUSCOM 633Y


Course History

Fall 2016
Title: Structuring Transactions: Large Scale Privatizations
Faculty: Schmidt, John R
Section: 1     Credits: 3.0
Capacity: 20     Actual: 20

Fall 2015
Title: Structuring Transactions: Large Scale Privatizations
Faculty: Schmidt, John R
Section: 1     Credits: 3.0
Capacity: 25     Actual: 24

Fall 2014
Title: Structuring Transactions: Large Scale Privatizations
Faculty: Schmidt, John R
Section: 1     Credits: 3.0
Capacity: 25     Actual: 24