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Ellerines and African Bank [electronic resource] : a toxic acquisition recipe (B) / Odongo Kodongo, Helen van den Berg, Claire Beswick

Author
Kodongo, Odongo
Published
London : Wits Business School, 2015.
Physical Description
1 online resource : illustrations
Additional Creators
Berg, Helen van den and Beswick, Claire
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Summary
At the end of the third quarter of 2007, Leon Kirkinis, chief executive officer (CEO) of African Bank Investments Limited (ABIL), unexpectedly arrived at the head office of Ellerine Holdings Limited (EHL), a South African furniture retail group, with a proposal to purchase EHL. For some time, EHL, which derived a substantial portion of its profit from loans provided to customers wishing to buy furniture, had been looking to enter into a deal with a bank as a means of growing its business. Up until the ABIL offer, EHL had been seriously considering a joint venture with Capitec Bank. Now, EHL's CEO, Peter Squires, and the EHL board had to decide which route to choose.
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ISBN
9781526430458 (ebook)
Note
Originally published in Kodongo, O., van den Berg, H., & Beswick, C. (2015). Ellerines and African Bank: A toxic acquisition recipe (B). WBS-2015-17. Johannesburg: The Case Centre, Wits Business School.
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