Chapter 987 Joint Venture
“This time for cooperation with Russia, Russian oil giants including Lukoil require that the long-term sales agreement signed with us have a flexible adjustment mechanism based on market prices. …”
For United Energy Group CE O Epeli Singleton's words, Barron didn't know what to say for a moment...
After a while, he said lightly:
"Very good, this is exactly what he said..." That’s what we hope, but it’s also nice to be able to make them feel like they’re taking the initiative.”
Although it is no longer the BFT fund that cooperates with the Russian oil giants this time, the "crude oil bet" between the BFT fund and these Russians impressed them more...
For example, Lu Gram Petroleum Company, whose president Waji Alekperov still vividly remembers the profits that the BFT Fund received from Lukoil due to the soaring international crude oil prices - although Lukoil only made less money during that price surge and did not There was no debt, but it still made him feel unhappy.
This is why this time when United Energy Group cooperates with Russian oil and gas giants, they require that a mechanism for adjusting oil and gas prices must be added based on market changes...
It is really because they are worried History repeats itself again. If the price skyrockets again after the contract is signed this time, it will not be so pleasant.
In fact, they guessed it right, but only half of it, because the oil and gas prices will change greatly this year, but they will not rise, but fall - the oil and gas prices for the whole year will fall by more than half. , these declines are mainly concentrated in the second half of the year.
Of course, this is what happened in the original time and space. Many times, Barron's actions in the investment market will take into account the impact on his industry. Therefore, Barron himself is still hesitant whether to control or restrain his participation in crude oil this time. Investments that have fallen and related prices of bulk goods have fallen...
After all, the cooperation with Russia and the scale of purchasing their oil and gas products is not small.
In addition, United Energy Group and Colo itself have considerable oil and gas exploration. The decline in oil and gas prices will inevitably deeply affect these industries.
However, this year's drop in oil and gas prices itself is also affected by many factors - the Federal Reserve's withdrawal from quantitative easing, which led to a stronger US dollar, coupled with reduced global demand, led to a drop in oil and gas prices...
Before this, there was also a lot of capital that was long on oil and gas prices, and began to reduce its positions on a large scale in the second half of this year, causing a panic decline...
Barron does not think they can fight this trend entirely through the capital market...
In this case, the other party is more proactive in negotiating with Russian oil and gas giants on the purchase price adjustment mechanism...
Then DS Group has no psychological burden at all and can prepare to intervene in this wave of sharp declines in oil and gas prices, which in turn will lead to a decline in commodity prices.
As for United Energy Group and Colo Petroleum Company, they will also superimpose corresponding short-selling arbitrage on futures based on their oil and gas production.
……
Throughout March, what attracted the most attention to the British people and the global pharmaceutical field was that GlaxoSmithKline, the largest pharmaceutical company in the UK, announced that it had replaced its chairman and CEO. As Barron’s investment in GlaxoSmithKline through its new fund European Wealth Fund has increased since this year, DS Group and its related capital have now cumulatively controlled 25% of GlaxoSmithKline’s shares, plus their Influence - Other shareholders of GlaxoSmithKline also maintain close cooperative relations with DS Group.
As a result, they have taken control of GlaxoSmithKline's board of directors, thus announcing in March that its chairman and CEO Andrew Witty would "retire" early, having previously served At L'Oréal Group, a subsidiary of the GHL Group, Emma Walmsley, who currently manages the consumer healthcare business at GlaxoSmithKline, will take over the position of Andrew Witty and become the first female leader in the history of GlaxoSmithKline.
“My goal is to lead GlaxoSmithKline’s transformation. I hope to focus on research and development and bring better products to users...”
I have to say Emma Wurm Slee is very determined...
After becoming the leader of GlaxoSmithKline, the first decision she made was to cooperate with Pfizer and merge the consumer health care products businesses of both parties - you know, before that, Emma Walmsley He is the head of GlaxoSmithKline’s consumer healthcare business.
“The merger of the consumer health care products business of both parties will save a lot of costs and occupy the first or second market share in the health care products business in all key regions, including the United States and China. This will It is something that is beneficial to both GlaxoSmithKline and Pfizer..."
It can be said that this time Emma Walmsley chose Pfizer as a partner in the field of consumer health products. The controlling shareholder of GlaxoSmithKline, His Royal Highness the Duke’s influence in Pfizer Pharmaceuticals.
After all, in addition to controlling 25% of GlaxoSmithKline's shares, Barron also controls more than 20% of Pfizer's shares, which is also the driving force behind the cooperation between the two parties.
According to the negotiations between the two parties, after the business combination of the two parties, GSK Consumer Healthcare will be the name of the joint venture, in which GlaxoSmithKline owns 68% of its shares and Pfizer owns 32%. % of the shares - this integration involves multiple products of both parties, such as Sensodyne, Fenbid, Centrum, etc.
The joint venture will focus on the integration of the business, and it is expected that the two businesses will save 500 million pounds per year by 2015. At the same time, they also stated that up to 25% of the cost savings will be reinvested in the business to support innovation. and other growth opportunities.
At the same time, GlaxoSmithKline plans to spin off the joint venture from the company within three years and list its consumer healthcare business in the UK and the United States.
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GSK Consumer Healthcare's management will also be formed primarily by GlaxoSmithKline executives, and Pfizer will have the right to appoint three of the nine members of the joint venture's board of directors.
After the announcement of this cooperation between the two parties, the stock prices of GSK and Pfizer rose slightly, which also shows that the market is still very optimistic about this cooperation between the two parties.
"GSK needs to maintain its strength in research and development, whether it is cancer drugs or vaccine business..."
This was also the last time Barron and Emma Walmsley spoke What I said when we met.
At that time, Emma Walmsley hoped to establish a genomic research laboratory within the company, increase investment in oncology drugs, and focus on research and development.
Barron basically recognized her strategy and specifically reminded that GlaxoSmithKline cannot relax in the vaccine business.
(End of this chapter)