Finanzauto S.A.

This case deals with the problems of a general manager taking charge of a business acquired through a hostile takeover. Though the GM has considerable knowledge and experience in the sector, he faces a series of setbacks, not least of which is that the financial data used to calculate the bid for the business appears to have been highly inaccurate. As he takes over the business he finds it in a worse condition than had been initially anticipated. He also encounters Spanish labour laws which make it extremely difficult to replace either management or labour. With his hands tied he cautiously proceeds to restructure the firm and to remotivate the organisation.