Chapter 759 Guangdong Development Bank
In that year, the central bank approved Guangdong Development Bank to establish branches in Beijing, Jinling, Hangcheng, Chuncheng and Dalian.
Together with the previously opened Zhengzhou branch, it laid the foundation for Guangdong Development Bank’s nationwide network layout.
By the end of 2003, the balance of loans outside the province of Guangdong Development Bank exceeded the balance of loans within the province by 50.12%.
As of the end of 2004, Guangdong Development Bank had 26 branches and more than 480 business outlets across the country, with total assets reaching 344.5 billion yuan, various deposit balances of 300.5 billion yuan, and various loan balances of 215.7 billion yuan.
This is the current background of Guangdong Development Bank.
The reason why this bank, which has the worst financial situation among its peers and the highest non-performing asset ratio, has surpassed joint-stock banks such as Bohai Bank, Minsheng Bank, and Hua Xia Bank to enter Standard Chartered's field of vision.
The main reason is that in order to change the current situation of Guangdong Development Bank, it was decided that existing shareholders should use all the capital reserves and surplus reserves accumulated over the years to make up for losses.
The shareholding amount will be recalculated based on the ratio between the original purchase price and the purchase price of newly introduced investors based on the shares held by the company.
The original shareholders' equity of 3.5 billion yuan is converted into about 1.8 billion shares based on the bidder's bid - about 2 times the premium. After the reorganization (share capital is 12.5 billion yuan), they hold 15% of the shares. .
"Guangfa has only heard rumors of shareholding reform. Is it specific? We still have to wait for the matter to be implemented before we can decide. So, we don't have to be too anxious."
John frowned, and his heart rose. Bad feeling.
Xu Liang poured him a cup of tea.
By then, even if he cannot become a puppet, his control over Standard Chartered will be greatly reduced.
Standard Chartered's involvement in such trouble will undoubtedly leave a very bad impression and affect China's business development, especially Guangdong Development Bank's investment. ”
After taking full control of Standard Chartered's board of directors, he couldn't wait to reach out to Standard Chartered's management.
It is precisely because China Guangdong Development Bank has become the first Huaxia Bank to allow foreign capital to purchase a majority stake that this bid has reached a milestone.
"Don't worry, I will support anything that is beneficial to the development of Standard Chartered, and it will be the same this time."
Xu Liang put down his tea cup and looked directly at Humphrey.
And he wanted to use Xu Liang's power to win Guangdong Publishing, so he had to compromise.
Xu Liang nodded slightly and pondered for a while.
But he also admitted that the other party picked a good opportunity.
Through capital injection, it will completely improve Guangdong Development Bank’s current dilemma of excessive non-performing assets and poor financial status.
What does it mean?
“There are many foreign-funded institutions interested in GF now, right?”
Moreover, Guangdong Development Bank clearly stated that foreign parties can have management rights and nominate the chairman and president.
Of course, the qualifications still need to be approved by the China Banking Regulatory Commission - such conditions are obviously not available to China Construction Bank, Bank of China or ICBC as state-owned commercial banks.
I can tell you very responsibly that China, whether official or private, deeply hates drug addicts.
Badu Kirkland has been charged with possession of contraband by the Metropolitan Police. It is a certainty that even if he can be released on bail, he will definitely not be able to stay at Standard Chartered.
"Police in London discovered contraband while inspecting a bar and Kirk just happened to be there."
Looking at the man staring eagerly in front of him, Humphrey understood.
"Xu, thank you."
"Really? But the news I received is that the London Metropolitan Police has launched charges against him."
Bank management is all appointed by the China Banking Regulatory Commission. Even if you are a shareholder, you have no way to control personnel rights, let alone management rights.
"John, I heard that our respected Mr. Kirkland is a drug addict?"
Naturally, it attracted a large number of financial giants who coveted Huaxia Banking industry.
Now all domestic banks, whether state-owned or joint-stock.
Xu Liang waved his hand with a smile and took a sip of the tea in his hand.
Xu Liang put down the information.
That is to say, Guangdong Development Bank’s original shareholders’ shares were reduced to 15%, and then 85% was used to attract foreign investment.
If you want to swallow Guangfa from the mouths of these giants, Xu Liang's help is essential.
Now Guangdong Development Bank has broken this rule.
Compared with Citigroup and UBS, Standard Chartered’s influence is obviously weaker.
Humphrey nodded.
Humphrey nodded, "As far as I know, almost all foreign-funded institutions are interested, but Citigroup, Société Générale, and UBS are more actively participating."
"So, I feel that Badu Kirkland is no longer suitable to continue to serve as the chief financial officer of Standard Chartered."
Xu Liang emphasized his tone on 'Guangdong Publishing'.
And it was a high position like chief financial officer from the beginning.
“John, Standard Chartered is a world-class bank with a long history and rapid development. The position of the CFO is very critical, especially when we want to acquire GF and expand into the Chinese market.
Humphrey struggled in his heart.
He didn't want to compromise like this, otherwise one day, the man in front of him would eat up Sichuan bit by bit.
Of course, the most important thing is that the other party controls the board of directors.
The CEO, the core executive of the group after the CEO and COO, must obtain the approval of the board of directors.
After struggling for a long time.
"Xu, after I return, I will discuss with the management and select a suitable candidate to take over Badu's position as soon as possible."
"Okay, I'll wait for your news."
The two chatted for a while, and Humphrey left.
After watching the car drive away.
"Mr. Xu, do you really want them to recommend the candidate for the chief financial officer?" Lu Hui asked.
“How is it possible? Don’t push things too hastily, otherwise it will be counterproductive.
Our goal of replacing Badu Kirkland has been achieved, and we can take our time in promoting our own people. "
Lu Hui nodded and handed over today's documents. "Mr. Xu, this is the progress of Hanhua Pacific No. 2 Fund's purchase and sale of U.S. subprime debt and its acquisition of Unocal received today. ”
Xu Liang took over.
Three months have passed since Hanhua cooperated with Oppenheimer, JP Morgan and Goldman Sachs. By the end of the month, they had sold off $59 billion in subprime debt.
Xu Liang also truly saw the huge network of the world's top investment banks.
"In two or three months, the Pacific No. 2 Fund will be able to settle down." Xu Liang said.
Look at Unocal’s information again.
“Has the stock price risen so high?”
Since Chevron joined the competition, Unocal’s market value has been hovering around US$12 billion, and it has soared to US$140 in just one week billion dollars.
It has now risen to around US$15 billion.
"Mr. Xu, do we want to close our position?" Lu Hui asked.
When Xu Liang acquired Unocal’s equity through Hongyan, the latter’s share price was only about 10 billion US dollars, and it has now risen by 50%.
Counting the leverage used.
The rate of return has exceeded 100%.
"No, it's still early."
Xu Liang shook his head decisively.
The Pacific side is not over yet, and more importantly, there are still players who have not entered the venue.
“Hasn’t our acquisition of Delong been approved by the higher authorities yet?”
“No, let us wait for notification.”
"Where's the Tang family?"
"The teams from Hanhua and Hongyan have already settled in and are currently doing due diligence." Lu Hui said.
"Notify me immediately after they finish the investigation."
"Okay."
Although he has been investigating Delong through Hongyan for nearly three years, in the end Without going deep inside Delong, the details of some related transactions and even secret transactions are not very clear.
Therefore, due diligence this time is very critical.
He must find out if there are any hidden debts inside Delong that he doesn't know about.
“By the way, after the negotiations with JD.com were almost complete at No. 1 Store, Liu Qiangxi was asked to lead the team to join in the due diligence of Denong Supermarket Chain and Denong Seed Industry, so that he could become familiar with it as soon as possible and take over in the future. It will be easy to get started later.”
“Okay.”
For Denong, his short-term plan is to develop agricultural retail terminals and seed industries.
In the mid-term, we will integrate three-dimensional chemical fertilizers and get involved in the agrochemical field.
The long-term plan is to incorporate Hongyan’s Harvest Agriculture.
Let Denong Group become a 'big agricultural group' with business scope covering planting, seed industry, deep processing of agricultural products, agrochemical products and agricultural chains, integrating upstream and downstream.
The Great Qiangzi was prepared by him to be the helmsman of Denon.
Lu Hui’s cell phone rang.
After picking up and listening for a while.
"Mr. Xu, Mr. Sha from Fuhua Real Estate is here."
"Let him come over."
It didn't take long, and Sha Zhigang, who was in a hurry, pushed The door came in.
“Mr. Xu.”
Xu Liang waved, "Lao Sha, come and sit."
After agreeing, Sha Zhigang sat down on the sofa opposite.
As Xu Liang became more and more successful, his businesses became larger and larger.
The majesty on his body is getting heavier and heavier.
Although he still maintained his original appearance and did not pretend to be sophisticated, the people around him became more and more respectful to him.
Xu Liang realized this change and couldn't help but sigh at the loneliness of feeling cold at high places.
Of course, what he really values is not loneliness, but standing too high and unable to hear the sounds below. Over time, it will become a fixed mindset and lose touch with reality.
It is also commonly known as ‘gone away’.
Jie Kema started out as a promising young man who guarded sewer manhole covers and was determined to let Chinese companies go global through the Internet.
But as he became more and more successful, more and more people said good things to him.
At the beginning, I was still alert and could listen to advice that was unpleasant to my ears.
But over time, after hearing too many good words, it becomes a fixed mindset. This is the real big trouble.
This is also the reason why the relationship between emperors and ministers between Emperor Taizong of the Tang Dynasty and Wei Zheng has been passed down for thousands of years and is highly praised.
For those who stand at the top, being able to listen to what is being said below and never forget the original intention is really an excellent and explosive quality.
"Mr. Xu, this is the financial statement of Fuhua Group for January 2005."
Xu Liang picked it up, flipped it over briefly, and then put it down.
He has read Fuhua’s 2004 annual development report. It has only been two months and not much has changed.
This is not why he brought Sha Zhigang here.
“How is the negotiation with Sunchi going?”
“We have almost reached the point of negotiating, 3.5 billion Huaxia coins to acquire all the assets of Sunchi.”
Sha Zhigang said quickly.
(End of this chapter)