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• Case | HBS Case Collection | 2013 (Revised from original 2012 version)

  Persephone's Pomegranate: Crédit Agricole and Emporiki

  Dante Roscini, Daniela Beyersdorfer and Jerome Lenhardt

  In 2006 the French bank Crédit Agricole bought the Greek Emporiki bank, for €2.8 billion, at the peak of a bull market for bank takeovers. Six years, a major financial crisis, and €5.2 billion of losses later, in a context of great uncertainty in the European banking sector, what decision should Crédit Agricole take regarding Emporiki? Through the example of this European cross-border acquisition the case looks at the Greek banking system before and during the unprecedented Greek sovereign debt crisis; the efforts of Greece and the main actors of the European financial system to prevent the embattled country from having to exit the Euro zone; and the potential scenarios for Greek banks in mid-2012.

  Keywords: Business and Government Relations; Currency; Development Economics; International Finance; International Relations; Banking Industry; Greece;

  Citation:

  Roscini, Dante, Daniela Beyersdorfer, and Jerome Lenhardt. "Persephone's Pomegranate: Crédit Agricole and Emporiki." Harvard Business School Case 713-055, May 2013. (Revised from original November 2012 version.)

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• Teaching Note | HBS Case Collection | 2013 (Revised from original 2013 version)

  Creating the First Public Law Firm: The IPO of Slater & Gordon Limited (TN)

  Benjamin C. Esty and E. Scott Mayfield

  Citation:

  Esty, Benjamin C., and E. Scott Mayfield. "Creating the First Public Law Firm: The IPO of Slater & Gordon Limited (TN)." Harvard Business School Teaching Note 213-027, April 2013. (Revised from original April 2013 version.)

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• Case | HBS Case Collection | 2013 (Revised from original 2011 version)

  Kroll Bond Rating Agency

  Bo Becker

  The established credit raters were criticized for inflating the mortgage credit bubble that imploded in 2008. A new rating agency, KBRA, is considering how to capitalize on the opportunity this presents and how to enter the industry. A small group of managers have to decide on a business model, how to meet hiring and funding needs, and what types of ratings to start with: municipal, corporate, or structured. Where are the needs for new ratings stronger? How can investors be convinced to use the new ratings? How can KBRA compete with Fitch, Moody's, and S&P?

  Keywords: Financial Instruments; Financial Management; Financial Services Industry;

  Citation:

  Becker, Bo. "Kroll Bond Rating Agency." Harvard Business School Case 212-034, April 2013. (Revised from original October 2011 version.)

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