A prominent law firm in South Africa was acquired by a local bank. Five years after the law firm was sold, the firm’s directors bought the firm back at a vastly lower sum than had initially been paid for the firm.
This had resulted in allegations of either huge destruction of value or the bank being ‘taken for a ride’ in the original purchase. In addition, the senior partner of the firm also happened to sit on the board of the bank.
In anticipation of public criticism and resultant fall out with the bank, the firm was provided with the crisis communications strategy to be adopted as well as media training for the spokespeople, that took account of the hostility they would face from the media.
The agency also provided the firm advice on how to deal with criticism regarding an issue around its empowerment, the firm’s name change and re-branding; the move to new premises; and an internal communications strategy.