In later generations in Britain, almost all car brands either went out of business or were sold abroad. Genius one lives three five first 35d1

Rolls-Royce, Bentley, Mini, Rover, Land Rover, Jaguar, Aston Martin, none remained in the hands of the British.

Although this is the overall development plan of the United Kingdom, it can also be seen that it is difficult to develop industry in the United Kingdom.

In particular, after entering the 90s, Britain, which was isolated from Europe, actively integrated into Europe under the trend of European integration, and accelerated the process of their deindustrialization.

When Rolls-Royce sold it to BMW in '98, the asking price was $570 million.

But that was after the rapid depreciation of the dollar, which is worth much more now than it will be thirteen years from now.

$250 million, at least $400 million for future generations.

Moreover, Rolls-Royce has been losing money in the eighties and has hardly ever made a profit.

When it's a good time, I'm elated when I make 10 million dollars a year, and finally I don't lose money!

They haven't bought a large piece of land in Goodwood yet, and it is indeed a bit inflated to shout such a high price.

What does the Vickers Group do? This group can be said to be the British Defense Industry Corporation.

From submarines, destroyers, aircraft carriers in the sea, to tanks and armored vehicles on land, to planes in the air, as well as radars, missiles, etc., they are producing, manufacturing.

It was in their hands that Rolls-Royce was split into Rolls-Royce and Rolls-Royce.

Rolls-Royce, which produces aircraft engines, is what they value, but Rolls-Royce, which produces cars, they don't care at all.

At this time, they shouted such a high price, I am afraid that it is not only the premium of the brand, but also the pride of the boss empire.

Jonas asked, "Aunt Ursula, with your experience with the Vickers Group, how much more splash do you feel you can squeeze?"

Ursula laughed, "Jonas, it's not just about money. We're not a full-fledged car company, and Vickers was worried that we'd be doing poorly and losing jobs.

Before we prove our ability, they need a guarantee of hundreds of millions of dollars as a guarantee to ensure the interests of the workers. ”

Jonas asked, "That is, 450 million dollars, and the actual cost of buying two factories is 350 million, and the other 100 million is a guarantee?"

"So to speak. ”

Jonas was relieved that if that was the case, the cost would have to be calculated separately. "So how is the guarantee of 100 million calculated?"

"After three years of successful operation, we return 10 percent each year. Ten years later, the remaining 30 percent, or about $30 million, will not be returned to us, but will go directly to the pension account. ”

"So is it possible to reduce the cost of purchase?"

"If we were Volkswagen, GM, it would still be possible, but we are just a newcomer to the automotive industry, and even if we talk about it, we will only have a small price reduction at most, and at the same time we have to accept harsh conditions. ”

"So, what about Deloitte's auditors' assessment of the two factories?"

"The two factories have less than $200 million in fixed assets in Crewe, or even about $160 million. However, with their brand, their mature industrial system, supporting supplier system, sales system, and skilled workers, it is still worth about 300 million US dollars. ”

Deloitte now has a close relationship with Hoffman Investment Bank, and Jonas believes that their valuation is definitely slightly skewed in favor of Hoffman Investment Bank.

"That's equivalent to a premium of $50 million, and then another $100 million in bankruptcy guarantees. ”

Ursula nodded and said, "Even so, I still think these two factories are worth buying. ”

"Why?" Ursula didn't think at first.

Ursula laughed, "Brand effect. We are a newcomer to the automotive industry, and if we win the world's only two luxury brands, it will help us grow in this industry. ”

Indeed, just like the Indian Tata of later generations, at the beginning, few people in China knew about this Indian car brand, but after they acquired Land Rover Jaguar, it became widely known.

Jonas doesn't care about tens of millions of premiums, their Hoffman investment bank entered the automotive industry, not for how much money to make from producing cars, but for the investment bank to find a pillar industry and develop in the direction of a consortium in the future.

At this time, taking down the two most luxurious car brands in the world will help enhance the overall image and influence of Hoffmann Investment Bank.

However, Jonas has another problem in mind.

"Aunt Ursula, you don't think there is a need to restructure the investment structure, all the equity is placed in Hoffman Investment Bank, and Hoffman Investment Bank is a private equity fund, which is not conducive to future equity transactions. ”

"If you think it is necessary to re-register a new group of companies, at least for now, we can't do without the funds of our partners. But in the long run, separating partnership funds from equity funds will help you control the company. ”

Jonas nodded and said, "There is another reason, that is, if all the equity is placed in the name of a company, it will form a giant before the development of Hoffman Investment Bank." Like Toei's Mitsui and Mitsubishi, they have always kept a hidden low profile. ”

Ursula asks a question. "Jonas, if you form a holding group of companies, how many shares are you going to give to meet the needs of your partners?"

Thinking of this, Jonasden was speechless.

In the early days of development, Jonas borrowed funds from interest groups and concentrated funds to do big things.

The good thing is that in just over a year, Jonas's personal assets have tripled from $500 million to about $1.5 billion.

But the downside is just as obvious, the current Hoffman investment bank has become a big piece of fat, and everyone can see the ability of Jonas and Rogers to make money.

As a partnership-style private equity fund, everyone's funds are still their own, but Jonas and Rogers are responsible for the investment, charging 20% of the profit service fee.

They have no right to meddle in any of Hoffman's investment bank affairs, and the funds can be withdrawn when the contract expires.

However, if a joint-stock company is formed, they no longer have the power to withdraw their funds, and they also have the power to meddle in the affairs of Hoffmann's investment bank.

There are good and bad ways in each way.

Otherwise, if you invest one billion dollars in a company today, and the partners want to withdraw the funds, it will lead to the failure of the investment.

Jonas doesn't want to give up his controlling stake, but if he doesn't give enough benefits to the other partners, Jonas will become a typical example of crossing the river and tearing down bridges, and will become the target of public criticism.

Jonas thought for a moment and said, "In the essence of economics, there is a distinction between economic subjects and economic objects, and the spatial relationship between subjects and objects, industrial structure, regional structure, including financial and corporate structure, can become the main basis for consideration of this matter." ”

Ursula asked sharply, "Do you want to separate the financial subject from the industrial object?"

"Professor Schwarch is already helping me design the management structure, but because our equity investment has not yet entered the actual operation stage, the necessary factors are lacking. ”

Ursula frowned, thought for a moment, and said, "I see what you mean. You want to continue to use the funds of your partners and continue to make money for them, but you don't want them to interfere with the investment of Hoffmann Investment Bank, let alone lose the right to speak in the company. ”

"It's understandable. ”

"Well, the first step is to reclassify the money management plan that Hoffman Investment Bank has now signed with its partners, and you want to make sure that there is no gap in Hoffman's funds for each time period," Ursula said. ”

"This matter still needs a little more help from Aunt Ursula. ”

Ursula nodded. "I can help you organize the partners to re-sign the investment agreement, and divide the funds that Hoffman Investment Bank now controls into two phases, and no matter which period of time the funds are withdrawn, it will not affect the management of equity investment. But, Jonas, what do I get?"

"I'll give you one percent of the company's shares, which won't be affected by future equity changes. ”

Ursula leaned back on the couch and stretched out her hand. "Jonas, great cooperation. ”

As the general manager of an equity investment company, Ursula knows very well what kind of behemoth this equity investment company will become in the future.

Even now, Jonas has more than $600 million in Austria, and there will be a huge amount of money to be invested in the future.

At today's calculations, one percent of $600 million is less than $6 million. But what about the future? In the case of the acquisitions of Rolls-Royce and Bentley, an additional investment of $400 million would increase Ursula's stake by four million.

Of course, Ursula is worth the price, not to mention her management skills, just because she can be the link between Jonas and interest groups, and can help Jonas solve all kinds of disputes, she is worth spending a lot of money.

The bigwigs on the interest group side have more than $20 billion in money in the hands of Seaman Investments, Wall Street's Steinhardt.

With just a slight flow to Hoffman's investment bank, Jonas won't worry about running out.

Tie the amount of investment to Ursula's return, and don't be afraid that she will be careless.

Although the relationship between them is very good, no matter how good the relationship is, it is necessary to give Ursula enough in return.

"I'll go back to Zurich now, get in touch with the Vickers Group, and you're ready, maybe we'll be on our way to London tomorrow." ”

Jonas laughed. "Aunt Ursula, it's important to make money, but don't lose sight of the meaning of life. ”

Ursula got up and hugged Jonas's head, kissed him on the forehead and smiled, "For a woman in her fifties, there are very few things worth pursuing in life. Money and power are what I value most. ”