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In February 1991, the managers of this multinational specialty publishing company proposed to take the company private in a leveraged buyout (LBO). In addition to the ordinarily interesting features of the typical LBO, this transaction was the first to be denominated in ECUs and one of the few in which the managers provided all the equity financing. The tasks for the student are to value the company and evaluate the attractiveness of the transaction from the standpoints of seller, senior lender, mezzanine lender, and equity investor/manager. The case can be used to (1) exercise students' skills in valuing a highly leveraged company, (2) illustrate how deal structuring can mitigate potential agency problems, and (3) explore the problems and possible solutions associated with financing a global firm.

After completion of this case, students will be able to: define and understand the external and internal components of the strategic management process; define and explain various alternative strategies that help companies create a sustainable competitive advantage; understand and explain the five main choices of entry mode that are available to organisations when considering entry into a foreign market, suggest an entry mode that is relevant to Standard Bank and explain the pros and cons of each entry mode; and understand how a company can offer or phase in its service offerings.

This case situates Sola David-Borha, CEO for the Africa Region at the Standard Bank Group, in April 2018, considering whether and how to expand into personal and business banking in Cote d’Ivoire – a country that Standard Bank had just re-entered, having exited there in 2003 because of the civil war. The bank has operations in 20 sub-Saharan African countries and its growth strategy is focussed on Africa. This strategy is reflected in its slogan: “Africa is our home. We drive her growth”. David-Borha has a number of questions on her mind. These include: can the bank offer financial services that will meet the needs of the Ivorian people, how can the bank expand into personal a business banking – indeed is rapid expansion into this sector the right decision for now?

Advanced/graduate courses in strategic management and international business.

Teaching Notes are available for educators only.

CSS 5: International business.

With the establishment of Competition Commission of India (CCI), Competition law-class actions, especially with regards to abuse of dominance by monopolists, are slowly becoming unhappy realities with both government-owned as well as private companies. This case used Coal India Limited (CIL), a public monolith which was penalized recently by CCI, as a subject of analysis to delve deeper into various conceptual understandings related to public sector functioning, such as public versus private provisioning, natural versus designed monopoly, dominance versus abuse of dominance, corporate governance versus government mandated governance, and finally natural resource allocation.