At this time, Lin Haocang said to Zhou Ting: "Later, you will send an email to those big customers who have invested in my name..."

Li Ze of the Li family invested 8 billion before, and then chased 10 billion, a total of 18 billion to Sky Capital.

Hengsheng Bank invested 15 billion yuan before, and added 35 billion yuan later, for a total of 50 billion yuan.

Yingda Bank invested 25 billion before, and added 50 billion later, for a total of 75 billion.

Huifeng Bank previously invested 35 billion. An additional 165 billion will be added later, for a total of 200 billion.

Singapore, Malay, and Indonesian billionaires invested a total of 10 billion and chased 30 billion, totaling 40 billion.

Liang Bixia invested 1.4 billion before, and then chased 5 billion, for a total of 6.5 billion.

Huang Huizhong, Zheng Hongbiao, Huang Zhixiang, Lin Guotai, Li Wenzheng, the five invested a total of 10 billion before, and added 30 billion later, for a total of 40 billion.

Ha Qiong invested 3.5 billion before, and added 5 billion later, for a total of 8.5 billion.

In total, an additional 300 billion yuan has been invested!

Lin Haocang felt that he needed to thank these people for their trust and support.

Zhou Ting hurriedly said: "Okay, chairman, I'll send them a thank you letter later." ”

Lin Haocang nodded, and then took Zhou Ting to the restaurant together.

After lunch, Lin Haocang pulled Zhou Ting to the elevator.

At this time, his mobile phone rang, and when he opened it, he found that it was Li Ze calling, and immediately Lin Haocang answered the phone, "Mr. Li, what's the matter?"

On the phone, Li Ze said excitedly: "The representatives of EDF are about to arrive in Jiangdao, at 2 o'clock in the afternoon, come to me for tea, hehe, let's have a good chat."

Their Li family's Hejiang Infrastructure is a company dedicated to transportation, energy and infrastructure materials, and Jiangdao Electric is one of the major power suppliers in Jiangdao, both of which belong to Hejiang Industrial. In recent years, many Jiangdao public service companies have encountered development bottlenecks, so Hejiang Industrial has set its sights on overseas markets to expand profit margins.

The sale of the British power grid aroused great interest in the Li family, and Li Tiancheng believed that the global economy had begun to bottom out, and his father told him that no matter what the project, as long as it was in a country with political stability and legal protection, it was possible to invest, and the key was to see the rate of return and robustness of the investment project. The return on investment for UK Power Grid is expected to be as high as 15%, and the acquisition will double the presence of Hejiang Infrastructure in the UK.

In the face of the hesitation of the new CEO Puglio, Li Ze, after gaining the support of Lin Haocang, immediately struck hard, and knocked down the McGonagall in one fell swoop with a 27% premium to the purchase price compared with his appraised price.

Hejiang Industrial formally delivered the tender offer in the form of an irrevocable offer to EDF. This is Lai's fifth investment in the UK and the largest overseas acquisition ever undertaken by Hejiang Industrial.

The main business of Hejiang Infrastructure includes energy and infrastructure materials, and Jiangdao Electric Lighting specializes in energy infrastructure projects, and Jiangjiang Infrastructure has joined hands to develop energy infrastructure business with the advantages of Jiangdao Electric Light. Hejiang Infrastructure and Jiangdao Electric Light have cooperated many times in business, not only because of the synthesis benefits, but also because of the tax expenses. As early as '94, his father incorporated Felixstowe, the UK's first container port, into its portfolio.

In the past 7 years, Hejiang Industrial began to plan the huge territory of British utilities: in August 04, Hejiang Infrastructure acquired Cambridge Water, a water supplier, for 51.38 million pounds.

In June 05, Hejiang Infrastructure acquired a 40% stake in North Gas Network for £557.5 million, while Jiangdao Electric acquired a 19.9% stake in the company for £277.3 million, and Hejiang Industrial held a total of 59.9% of the equity of North Gas Network.

In November '09, Hejiang Infrastructure and Jiangdao Electric increased their stake in Northern Gas Network to 88.4%, involving about 75.8 million pounds, and in May '10, Hejiang Construction acquired a 50% interest in power supplier SeabankPower for 220 million pounds, and resold 25% of the interest to Jiangdao Electric Light in June.

After the joint acquisition with Sky Capital, Hejiang Industrial will control about 25% of the grid distribution market, about 10% of the natural gas supply market and 5% of the water supply market in the UK.

"Oh, the representatives of EDF are already here?" Lin Haocang was a little surprised, "Okay, I'll go over later"

After a brief conversation, the call ended.

Zhou Ting on the side said curiously: "Chairman, what's a good thing?"

Lin Haocang said with a smile: "This time, our Sky Capital will jointly acquire a British power grid company with Hejiang Infrastructure."

"Hejiang infrastructure, is that the Li family's industry?" Zhou Ting was shocked.

Lin Haocang said with a smile: "Yes, their Li family wants to expand overseas, and they meet strong competitors and lack money, so they are united with our firmament."

Zhou Ting suddenly realized, and hurriedly said: "This is a good thing, Sky Capital can diversify its investment!"

The two walked and chatted, and then came to the roof of the Sky Capital Center and got on the helicopter.

Soon Lin Haocang and Zhou Ting came to the Yangtze River Building.

Li Ze and a group of executives were already waiting for Lin Haocang, and when he saw Lin Haocang getting off the helicopter, Li Ze hurriedly stepped forward and said, "Mr. Lin, here"

The two shook hands warmly and chatted as they walked.

Lin Haocang smiled: "Mr. Li, I didn't expect you to move so fast!"

Li Ze smiled: "Haha, Mr. Lin, with your financial support, of course, there is a quick solution, and the business opportunity is fleeting."

In recent years, due to the development bottleneck of Jiangdao Public Service Company, Hejiang Industrial has set its sights on overseas markets. The transaction is an important step in the UK's layout of Hejiang Industrial, which already owns Cambridge Water and Northern Gas Grid, and the acquisition of high-quality mature grid assets will enhance the business synergies of Hejiang Industrial.

After the successful acquisition, Hejiang will control about one-quarter of the grid distribution market in the United Kingdom, transmit about 89 billion kilowatt-hours of electricity, the number of customers is about 7.8 million, and the service area is 29,165 square kilometers, covering London, the east and southeast of the United Kingdom. These regions account for about 40% of the UK's GDP. The grid will also provide a steady stream of revenue for transmission services in key public facilities such as London's four airports, the London Underground, the Channel Tunnel Railway, the London Stock Exchange, and famous attractions and universities.

Moreover, Hejiang Industrial actively takes the road of internationalization, in addition to complying with the needs of scale expansion, but also mainly through business globalization to diversify its investment risks. Different markets are affected by different economic cycles, the degree of industry competition is different, and the market development stage is also sequential. Hejiang leverages this geographical differentiation to increase its investment flexibility, reduce risk, and ensure a satisfactory overall return. Before the merger, about 60% of Hejiang Infrastructure's revenue came from Jiangdao Electric Light, 40% of its revenue came from overseas, and 75% of Jiangdao Electric's revenue came from Jiangdao. After the acquisition, it will greatly increase the investment income of Hejiang Industrial from outside Jiangdao.

In addition, infrastructure and power are long-payback businesses that are characterized by low exposure to current economic conditions, stable income, and large capital investment. The UK electricity market is known as the world's freest electricity market, which is mainly reflected in the bidding of power companies for grid access, while the part of the power grid responsible for power transportation relies on fixed electricity transportation fees, and the investment income is relatively stable. In the free market, stable returns through acquisitions will also help the Group's other businesses to develop and reduce financial crises in times of distress. In the face of such an enticing cake, it is no wonder that international consortia are also salivating.

The acquisition funds are as high as 10 billion US dollars, and their Li family will not be able to take out so much money for a while, but with the support of Sky Capital, they can completely win it, and the investment of Sky Capital has always been to be a major shareholder and hand over the management rights to partners, which is their favorite place for Li Ze.

At this time, Lin Haocang smiled and said: "Mr. Li, let's put it down if we cooperate with you, but we need to send five directors and five financial officers to Sky Capital!"

The estimated total acquisition capital is 80 billion, the Li family will invest 50 billion, and Cangqiong Capital will invest 30 billion, which is a very large amount, and Lin Haocang needs to participate in the operation of the power grid company.

Li Ze smiled, "Of course there is no problem" As he spoke, he stretched out his hand and said, "Mr. Lin, please, let's have tea first and talk about some details slowly!"

"Okay, please!" Lin Haocang said with a smile: "The funds can be received today!"

····

Time passed slowly, and at 2 o'clock in the afternoon, the representatives of EDF also came to the Yangtze River Building!

"Hello, Ms. Irene!" Li Ze smiled and held out his hand.

"Hello, Mr. Li" Erin, executive director of EDF, as the leader of this time, came to Jiangdao from France.

After a few words of greeting, Li Ze introduced: "Ms. Erin, this is Mr. Lin, my partner"

Looking at Lin Haocang who was so young, he was shocked in his heart, he didn't expect Li Ze's partner to be so young and able to come up with tens of billions of funds.

"Hello, Mr. Lin, it's a pleasure to meet you," she said as she held out her hand.

"Hello, beautiful Ms. Irene," Lin Haocang shook her hand with a smile.

Then everyone came to the conference room and began to discuss.

EDF is Europe's largest power producer, acquired the British energy group for 12.5 billion pounds in 08, and manages the UK's electricity network, supplying power to major infrastructure such as the South of England and the London Underground and the Channel Tunnel, covering 7.8 million people and supplying about 1/4 of the UK's electricity, making it the UK's largest distributor.

In order to increase the UK's reliance on renewables from 2% to 15%, the UK grid needs to implement a major upgrade programme: £14 billion by 12 years ago and £13.5 billion by 20 years ago, to carry out a comprehensive grid technology transformation and expansion coverage. However, EDF's large-scale acquisitions in the early stage have left it heavily indebted, and its profit has plummeted from 3.1 billion euros in the same period of '09 to 1.6 billion euros in the first half of 10 years, resulting in slow grid construction, and some construction delayed until 2018 to connect to the grid, which undoubtedly hinders the UK's renewable energy development goals. Therefore, starting in October 09, EDF wants to sell its British power distribution business to solve its debts.

In December of the same year, a consortium of Macquarie Australia, the Abu Dhabi Investment Authority and the Canada Pension Plan, known as McGonagall, also prepared to compete for this huge infrastructure deal. After more than a year of taking over as Gardney's new CEO, Puglio has been hesitant to sell the British power grid, with speculation about whether the deal can continue. In addition, due to the outbreak of the credit crisis, McGonagall was conservative in its bidding, and in the second round of bidding, it lagged behind Hejiang Infrastructure, and finally had to lose.

The reason why Hejiang Infrastructure defeated the McGonagall financial group was because of the strong support of Sky Capital, which will cooperate with the Heli family to jointly acquire 100% of the grid assets of EDF Energy, the British power network business of EDF Group.

The negotiations went well, and at 5 p.m., the acquisition agreement was signed.

Wojiang Infrastructure Group Co., Ltd., Jiangdao Electric and Sky Capital jointly defeated a consortium of Abu Dhabi Investment Authority, Canada Pension Plan Investment Authority and Macquarie Group of Australia to acquire 100% of the UK's regulated and unregulated grid assets of EDF Energy, a UK electricity network business, from EDF Group (EDF) for 80 billion yuan.

70% of the transaction price will be paid by project financing, while the remaining 30% will be 40%, 22.5% and 37.5% respectively by Hejiang Infrastructure, Jiangdao Electric and Sky Capital, with the three parties investing in the formation of a new company, UK Power Networks, to manage UK grid assets. The merger became the largest acquisition of UK assets by a Jiangdao listed company, and the largest acquisition in the history of Hejiang Industrial.

The transaction will be part of Hejiang's overseas expansion plan to enrich the company's investment income from outside Jiangdao, with an estimated market return of approximately 15%.

After Li Ze signed the agreement, he was very happy and said gratefully: "Mr. Lin, thank you!"

Against the backdrop of the debt crisis in Europe and the United States and the rise of global inflation, this merger and acquisition case has given a shot in the arm to Hejiang Industrial's overseas M&A, reducing investment risks with global business, and investing in public utilities to benefit Hejiang Industrial. In addition, Hejiang Industrial's financial position is good, and the public believes that it will continue to expand its overseas public business capabilities, and the merger and acquisition will also bring growth momentum to the group's earnings.

If the early integration is smooth, the merger and acquisition will bring better returns, first, about 60% of the revenue of Hejiang Infrastructure before the merger and acquisition comes from Jiangdao Electric Light, and Jiangdao Electric Light 75% In order to expand the UK investment market and break through the bottleneck of development, Hejiang Infrastructure has gas and water projects in the UK as early as the UK, and the acquisition will further diversify the local business, enrich the overseas investment portfolio, and promote revenue growth through these attractive assets, secondly, the power grid is a long-term return business, and the GDP of the area covered by the grid accounts for about 40% of the UK's GDP, and a number of important public facilities in the region will bring stable income to the transmission business. Ninety per cent of the acquisition is regulated assets with a low return on assets, with stable returns, while the remainder, which includes the unregulated businesses of the Airport Power Supply and Tunnelling businesses, has a higher return and is estimated to generate EBITDA of between £60 million and £70 million per annum. Third, the UK's antitrust regulators and the public are not concerned about the transaction, mainly because the UK government needs to meet the 2020 renewable energy development target, and the M&A process is less obstructed by the private sector and regulators.

Lin Haocang smiled faintly and said: "Mr. Li, we are all win-win, and I thank you for taking me to participate in this grand acquisition!"

Li Ze listened to Lin Haocang's modest words, and suddenly became more grateful to Lin Haocang, and felt that Lin Haocang was very, very worthy of his trust.

At this time, Erin, the executive director of EDF, smiled and said: "Mr. Li, Mr. Lin, I hope you can operate better than our EDF in the British electricity market!"

"As a lesson from the past, you and Jiang Infrastructure should speed up the upgrade of the power grid after the merger and acquisition!"

Once, in order to meet the UK's renewable energy development goals, EDF's electricity network is under pressure to upgrade, and the Suffolk power network alone is upgrading two substations, each of which costs more than £1 million, which will be another additional expense for the acquisition fund, in 08 EDF acquired the British energy group for 12.5 billion, the United States Constellation Energy had to sell part of its shares, but its debt was high due to excessive investment, and it was forced to sell the British power grid.

The UK is known as the world's free electricity market and is highly competitive. In order to increase market competition, the British Conservative Party planned to split the six major power companies in the United Kingdom in 09 to reduce consumers' energy consumption. Although the deal did not cause concern to the British public, it will be very difficult for Hejiang to acquire the power grid business on top of the 25% of the UK's grid distribution market.

In terms of management, EDF Energy has a bad customer service record and was fined £2 million by the British industry regulator Gas and Electricity Market Office, which shows that its management needs a change. Although Jiangdao was once a British colony, there are similarities in management to British management, but in cross-border mergers and acquisitions, integration is still key. This time, EDF urgently needs to sell its assets by the end of 10 years, and from the available information, it is a rescue merger. On the other hand, the acquired company is a disappearing company, when a large number of managers are replaced, fear and gossip spread among the middle and employee levels, and employees are very worried that the acquirer will take redundancy actions to solve the original problems.

Thinking of this, she added, "Mr. Li, Mr. Lin, I hope that you will seize the time to overcome the resistance of the acquiree and eliminate the acquirer's excessive dependence on some of the management personnel of the original company. In addition, it is necessary to pay attention to the compatibility of the corporate culture of the two parties, so that the intangible assets of both parties can also achieve synergy, and then refine the corporate culture of the new company to adapt to the new market competition.

Li Ze smiled, "Lady Irene, thank you for reminding us, we will do all this."

Erin nodded, and suddenly said to Lin Haocang, "Handsome Mr. Lin, France must contact me in the future!"

Lin Haocang smiled: "I will definitely do it!"

In the evening, a press conference was held, and the Li family announced the acquisition of 80 billion yuan, which shocked Asia!

However, at the press conference, according to Lin Haocang's request, Li Ze did not mention Sky Capital.