Chapter 1087 Pit
Behind the powerful Toho is the Hankyu Hanshin Group.
The latter, like Seibu, is a large-scale enterprise developed mainly on the subway, with real estate, department stores, hotels, logistics and other businesses.
There is some overlap with Seibu's business.
There is a basis for integration.
In 2005, Toho's revenue was 97.4 billion yen.
Seibu Bus's revenue is 80.7 billion yen.
Although Seibu is far behind, Seibu holds all the shares of Seibu Bus, while Hankyu Hanshin Group only has a controlling interest.
To realize the transaction, Hankyu Hanshin Group will also need to provide part of the money to Seibu Bus.
Of course, this is without adding in the debts of both parties.
"I'm afraid it will be difficult to acquire Toho now." Fukuda Gandera said.
"Why?"
"Hankyu Hanshin and Toho are discussing a merger. They want to form a larger group."
Xu Liang frowned slightly, but he didn't hear the news.
However, with the Futian family's deep-rooted connections in Japan, they would not lie to him about such a thing.
"If you sell Seibu Railway to Hankyu Hanshin, they will definitely be very interested." Yasuo Fukuda said.
Xu Liang shook his head.
Seibu Railway has an operating mileage of 176.6 kilometers and 92 stations, transporting nearly 700 million passengers every year, with annual revenue of nearly 190 billion yen and net profit of 21.7 billion yen.
It is a high-quality company with stable returns.
It’s not that he was reluctant to sell it, it was just that Toho wasn’t worth handing over to Seibu Railway.
"A Toho is not worth the cost of my two companies, Seibu Railway and Seibu Bus."
"Xu Jun, I think it's too early to plan for Toho. The top priority is Seibu. If Seibu's financial situation cannot be improved, no one will want to sell the company to you." Yasuo Fukuda said.
"I know this, but I hope to get a promise from my uncle to help me capture Dongbao after you become prime minister."
"I can help you, but the person who acquires Toho must be a Japanese company, at least on the surface it is a Japanese company."
"A word is settled."
"A word is settled."
After talking about the business, the two sides chatted for a while, and then Fukuda Iwaji and Fukuda Yasuo left.
"How was the talk with father and uncle?"
"Not bad, we have basically reached an agreement. ...Is Vincent sleeping?"
Fukuda Xinmei smiled and nodded, "I was so noisy that I wanted to find my father, but I finally managed to coax him to sleep."
"Yeah."
"I have good news for you, I'm pregnant again."
He took out a checklist and handed it over.
Although it is less than half a month old, it is not possible to detect pregnancy.
Xu Liang was not surprised either. He was particularly excited that night when he took in two new lovers. The tadpoles were also quite active, so the probability of winning the prize was very high.
Now it was just confirmation of his suspicions.
"Very good. This time next year, Vincent will have a younger brother or younger sister."
"Maybe two."
"Haha, that's better."
He handed the information back to Fukuda Xinmei and hugged her slim waist.
"Just take good care of our children, and I will earn you a big family fortune."
Futian Xinmei nodded, and Yubi tightly hugged the man's thick waist.
The next day, Xu Liang received Caleb Lewis, head of Goldman Sachs Tokyo, at Hanhua’s Tokyo office.
"Mr. Xu, it's a great honor to meet you."
"Mr. Lewis, you're welcome. Please sit down."
"Thank you."
After both parties sit down.
"My secretary told me that you want to talk to me about Osaka Universal Park?" Xu Liang asked directly.
His time is precious, so if you have anything to say, please tell me directly.
There are not many people who deserve his humility now.
"Yes. We hope to acquire the 10% stake in Universal Studios Osaka held by Universal Studios, and we are willing to pay US$200 million."
The annual number of visitors to Universal Studios Osaka is between 8 million and 9 million.
And there is a trend towards less and less.
The investment has not been recovered yet.
"The total investment in Universal Studios Osaka is US$2 billion. It has been five years since it was built. If I sell it for US$2 billion, my losses will be huge."
Money will depreciate. The actual purchasing power of US$2 billion in 1998 and US$2 billion now may be 20 to 30% different.
"Mr. Xu, although the total investment in Universal Studios Osaka is claimed to be US$2 billion, in fact the money is invested year by year, and only US$1.34 billion has been invested so far.
Our acquisition for US$2 billion is very sincere. ”
Universal Studios planned to invest US$2 billion, but after the development failed to meet expectations, the investment enthusiasm of all parties faded.
"If this is your sincerity, let's do this. Based on the standard of US$2 billion, you can sell me 41% of the equity you hold in Universal Studios." Xu Liang said directly.
Caleb Lewis's eyes flashed with joy, "Mr. Xu, there is a saying in your country that 'a gentleman's words can't be caught by four horses.' As a respected celebrity gentleman in the world, you will definitely keep your promise." .”
Xu Liang was stunned for a moment and reacted instantly.
I have fallen into a trap.
This Caleb Lewis originally planned to sell the equity of Universal Studios, but in order to get a better price, he did the opposite and started with acquisitions.
Xu Liang was unprepared and was caught directly.
Looking at the middle-aged man wearing black-rimmed glasses and a crisp Armani suit, he looks as elegant as a university professor.
"Mr. Lewis, you are a smart man."
"Thank you, I'm just a little clever. I can defeat Soros and Quantum Fund. You are the real genius who controls the global financial market."
"Although your compliment is very pleasant to hear, I'm sorry, but I have no interest in Universal Studios Osaka right now."
In addition to the number of visitors to Universal Studios Osaka reaching 11 million in the first year after its opening, the number of visitors has continued to decline every year since then.
The number of people is basically maintained at 8 million, which is different from Disney, which has nearly 30 million annual visitors.
Although it also makes money.
But it takes longer to recover costs.
Moreover, the subprime mortgage crisis is coming soon. With consumption downgraded, the global tourism industry will plunge into a trough.
If he buys it now, wouldn't it be for Goldman Sachs to take over?
It is better to wait until the crisis breaks out and global assets depreciate to pick up the slack.
"Mr. Xu, since you are not interested, why not sell us the equity of Universal Studios."
"Sorry, not selling." "Why? You don't want Goldman Sachs's shares, which means you are not optimistic about the future of Universal Studios Osaka. Why keep them in your hands anymore."
"Because I believe in the ability of Goldman Sachs, I want to see if Universal Studios Osaka can create better returns in your hands. If so, I will make money on the equity in my hand.
If it doesn't work, you won't lose much. ”
Caleb Lewis frowned slightly.
Something was beyond his expectation.
"Mr. Lewis, I still have a lot of work. If you have nothing else to do, I will leave."
"Mr. Xu, in addition to Osaka Disneyland, there is one more thing I would like to cooperate with you on."
Xu Liang made a gesture to please continue.
"I heard that Mr. Xu plans to sell the Internet technology company?"
"Goldman Sachs is indeed well informed, but now that you have the information, you should understand my purpose of selling Internet Technology."
Caleb Lewis smiled and said: "Mr. Xu, if you are interested, we can give you the opportunity to invest in Petroleos de Venezuela."
Looking at this guy with a smile on his face, Xu Liangliang felt the urge to punch him.
Venezuelan oil is indeed a huge piece of fat.
Proven oil reserves are 296.5 billion barrels, accounting for 18% of the world, ranking first in the world, and even more powerful than Saudi Arabia, the Middle East oil producer.
In addition to oil, there are 196 trillion cubic feet of natural gas, ranking eighth in the world.
The abundant oil and gas resources are coveted.
My family has a mine, and Venezuela has indeed lived a good life.
Especially the two oil crises were a waste of money.
But the princes of the Middle East have thousands of years of history, have seen the world, and know how to be prepared for danger in times of peace.
Use the money earned from oil to invest around the world and strive to develop other industries.
Venezuela is just like its black brothers in Africa. Once they have money, they can build as much as they can, regardless of tomorrow and the future.
Short-sighted behavior combined with the Chavez brothers' dirty tricks.
Venezuela’s oil industry collapsed.
It’s okay if you want to nationalize it, but since we have invested so much money in development, you have to make sure we get a return on our investment, right?
As a result, there was no result from the search, so our assets were confiscated.
Who the hell dares to invest in you?
Credit goes bankrupt, and the technology and markets brought by foreign oil companies are gone.
Venezuelan oil is really weak.
Venezuela is now a beggar with a golden rice bowl and has become a global laughing stock.
"Mr. Lewis, are you kidding me?"
Xu Liang looked unhappy.
We all know Venezuela is a big hole, but you still want me to go, what are your intentions?
Caleb Lewis sneered and said: "Mr. Xu, you are a world-class business genius who has created countless miracles. Maybe you can break the current chaotic situation in Venezuela and mine gold mines there..."
Xu Liang rolled his eyes directly.
"Forget about the gold mine. If Goldman Sachs thinks there is a gold mine, go there by yourself and don't take me with you."
After saying this, he completely lost his patience and stood up and walked towards the door.
"Sister Li, help me see off the guests."
Li Jinling agreed, "Mr. Lewis, please."
Caleb Lewis sighed inwardly and stood up slowly.
It was a wasted trip today.
……
Mizui Financial wanted to get rid of the Seibu mess as soon as possible, and Xu Liang also thought of a plan to solve the Seibu Group's liabilities.
Negotiations progress relatively quickly when both parties are interested.
About half a month later, their respective bottom lines were almost clear.
"President, this is the agreement just reached.
It is mainly summarized into nine articles and seventy-three sections.
First, Seibu Group must not go bankrupt.
Second, Hongyan provided a guarantee and Mizuhui Financial Group provided US$1.5 billion in liquidity to help Seibu Group resume operations.
Third, from the date of signing the agreement, Seibu Group does not need to repay debts within two years.
Fourth, Seibu Group’s total debt of US$27.054 billion is repaid in five years, with an annual interest rate of 2.57%.
If repayments are made for two consecutive years, Mizuhui Financial Group can provide Seibu Group with a new loan with an interest rate of no more than 3% to cover the previous debt.
No interest is charged if we repay it within two years.
Fifth, Ruihui Financial Group supports all Xu's reforms of Seibu Group and provides certain help when necessary.
Sixth, Ruihui agreed to provide US$7 billion in CDS bonds collateralized by U.S. AAA real estate subordinated bonds. ”
"Only 7 billion US dollars?" Xu Liang interrupted.
"Yes."
"Ask again if it can be increased, preferably 10 billion US dollars."
Recalling the hesitation of the negotiator on Mizui's side, Kawashima Makoto hesitated and said: "It's probably difficult. It took us a long time to negotiate the US$7 billion."
Xu Liang asked with great interest: "The reinsurance company owned by Ruihui is not optimistic about the U.S. housing market?"
“I’m not sure, maybe it’s related to the risk control system.”
Xu Liang nodded. During this period, both Hongyan and Hanhua purchased CDS bonds collateralized by U.S. 3A real estate subordinated bonds from major Japanese insurance companies.
All added up, it's $20 billion.
Adding in this US$7 billion, it is close to US$30 billion.
"During this period, you can go to Sumitomo Mitsui and Tokio Marine & Nichido Fire Insurance to see if they can provide insurance policies."
"Hi."
"Go ahead."
Makoto Kawashima nodded and continued: "Seventh, if Seibu Group's mergers and acquisitions encounter political risks, Mizuhui Financial Group is obliged to resolve them. If it cannot resolve them.
Ruihui Financial will compensate Xu for all losses incurred during the acquisition of Seibu Group.
Eighth..."
After everyone explained it to Xu Liang.
"President, that's about it. If you are still dissatisfied, let's talk about it."
"Except for CDS bonds, that's it."
"Hi."
After several more talks and increasing Seibu's share of CDs to US$8 billion, the two parties signed a contract.
With the cooperation of Mizue and the Fukuda family, there was not much scrutiny and obstruction from the political circles.
(End of chapter)