Chapter 296 Controlling over 99%
Just after Sioux City had negotiated the contract renewal with Linda Ronstadt, on the other side, Yang Chaoye had successfully negotiated the share transfer with Andrew’s family things.
Based on the crime Habakak Andrew committed, he would have to spend at least 20 to 30 years in prison.
By the time he can be released from prison, he will already be an old man in his sixties or seventies
So, the Andrew family has strategically given up on Habakak Andrew.
During the years that Habakak Andrew has been running Namei Entertainment Company, he and his family have successively transferred all the funds from fraud and corruption over the years to Switzerland.
It is impossible for them to spit out this money.
Of course, Habakak Andrew is responsible for all the sins. As for the Andrew family, of course, it is impossible for him to bear it.
However, the beautiful country will definitely have to pay a large fine, otherwise the Andrew family will not be able to survive in the beautiful country. So what should we do?
First of all, the Andrew family wants to convert the shares of Namei Entertainment into funds, and then use the funds to pay fines. As for how much is left to be filled, they will only consider it at that time.
Although Namei Entertainment was founded by Habakak Andrew on behalf of the Andrew family, the moment Namei Entertainment went public, it was no longer a family business.
So, under this current situation, they plan to sell the shares of Namei Entertainment Company without hesitation.
Because there is no use keeping it.
It is better to sell it and reduce the family's losses.
Originally, under normal circumstances, Habakak Andrew’s shares would definitely be frozen and unable to be traded.
However, with the intervention of Yang Chaoye and relevant personnel, the transaction was approved by the Securities Regulatory Commission of the United States, the FBI, and the Anti-Corruption Department of the Federal Ministry of Justice.
It’s not that Yang Chaoye’s ability is great, but this deal is very beneficial to the official.
Although the case of Habakak Andreu has not yet gone to trial, the crime he committed has basically been confirmed.
Waiting for the court hearing is just waiting for the final outcome of the trial.
So, even if the 23.84% held by Habakak Andrew was frozen, it was just to prevent them from selling the stocks and running away with the money.
Now, the Andrew family is very sure that the funds obtained from this transaction will only be handed over to government departments as fines.
Under such circumstances, what reasons do the Securities Regulatory Commission, the FBI, and the Anti-Corruption Department of the Federal Ministry of Justice have to stop it?
Moreover, Sioux City and the Andrew family will not make any small moves to lower the stock price to a very low level and then trade privately. This is impossible. No one dares to keep an eye on them. The US Securities Regulatory Commission, the FBI and the anti-corruption department of the federal Department of Justice are fools.
In order to avoid suspicion, when negotiating with the Andrew family, Yang Chaoye specially invited representatives from the three major departments to participate in the negotiations as supervisors.
In the end, the price negotiated by Yang Chaoye and the Andrew family was US$1.2 per share.
This price is roughly equivalent to the total market value of Namei Entertainment, which is about US$90 million.
23.84% of the total equity, the final transaction price was US$22.35 million.
Although the unit price is higher than Mike's, it is still acceptable to Sioux City.
After all, we are under the supervision of the government, and we cannot be too greedy. If we negotiate too low a price, it will be bad for the three major departments to take advantage of us.
Under the supervision of Sandaben, the two parties signed an equity transfer contract.
The equity was transferred to Sioux City, and the funds were directly transferred to the supervision account of the government department, and would be subsequently deducted as a fine.
Everything has been settled, which means that basically all the shares of Namei Entertainment Company have been acquired by Suzhou City.
As for the few stocks left on the market, they can be ignored.
This news soon reached Su City, who was still in the headquarters building of Namei Entertainment Company. After hearing the news, Su Cheng was also very happy.
Now, I can finally rest assured and go all out to develop Namei Entertainment Company, because Su City already holds more than 99% of the shares.
As for the traders at the Los Angeles Stock Exchange, while acquiring the stocks of other companies these days, they also specially assigned a trader to be responsible for continuing to acquire the stocks of Namei Entertainment, hoping to achieve 100 as much as possible. % controls Namei Entertainment Company.
Nami Entertainment Company has now reached the conditions for delisting from the stock market and being privatized.
However, Su Cheng had no intention of taking care of this matter.
Today, the equity on the market is no longer enough to affect Su City.
Two days ago, Zhang Qizheng reported to him that the number of stocks on the market was less than 0.3%.
Su Cheng didn’t ask Zhang Qizheng these two days, but thinking about it, there were even fewer.
So, in this case, there is no difference between delisting or not.
Unless the stock exchange feels that Namei Entertainment Company does not meet the conditions for listing, and orders Namei Entertainment Company to delist, then Su City will let Zhang Qizheng initiate the delisting process.
Otherwise, there is no need to worry about it.
In the evening, when Su Cheng was still at the company and had not returned to the hotel, he unexpectedly received a call from Linda Ronstadt.
After Linda Ronstadt left the headquarters building of Namei Entertainment Company, she couldn't wait to ask his personal assistant to investigate Su Cheng's personal information.
As a result, it was naturally what Su Cheng said. Su Cheng did not lie at all. The wealth he possessed was real and there was no bragging at all.
At this time, Linda Ronstadt was completely shocked by Su City.
Although she was shocked when she was in Su Cheng's office before, she actually listened to Su Cheng's words with more suspicion.
Now, she discovered that these were not bragging, but real.
To be honest, in Linda Ronstadt's opinion, this wealth can even make her the richest man in the world.
So, after receiving the information confirmation, Linda Ronstadt already had the idea of agreeing to Sioux City's conditions.
After discussing with her assistant and family, Linda Ronstadt decided to renew her contract with Namei Entertainment!
Are you afraid that you won’t be able to get up after working with such a wealthy boss?
"Su, I've thought about it carefully. I agree to your terms and renew my contract with Namei Entertainment for ten years." Linda Ronstadt said directly on the phone.
"Okay, I believe you won't regret this choice!" Su Cheng said with a smile.
“But I have conditions, that is, those key investments and market development you mentioned must be written into the contract. Also, during the time when I sign the contract with the company, you must always be The boss of the company, otherwise, I have the right to unilaterally terminate the contract with Namei Entertainment Company unconditionally!" Linda Ronstadt said again.
What she said was very simple, that is to prevent Su Cheng from just bragging instead of sincerely developing Na'mei Entertainment Company. In addition, she was also worried that Su Cheng would sell the company midway.
"Don't worry, these conditions can be written into the contract. As long as I can't do it, you can unilaterally terminate the contract at any time!" Su Cheng said with a smile.
On this point, he was still guaranteed.
Nowadays, Namei Entertainment Company can be said to be his private enterprise, and he can naturally develop it with confidence. There is no chance for Linda Ronstadt to break the contract.
Linda Ronstadt was also very happy to hear that Su Cheng agreed so readily. Now, everyone was satisfied.
(End of this chapter)