Chapter 390: Closing the Net
Not only the Sioux City project, but also other cities, including shopping malls that have already opened and operated.
Some of the original complicated little troubles seemed to disappear overnight.
And within the company, although Wang Ye appeared on the board of directors once and said something, he did not come to the company in person.
But Nie Xiaoying feels really different from before.
Prior to this board meeting, she struggled to manage the company.
Because she is new to the industry and does not understand many things, the heads of many departments will question some of her decisions either softly or hard.
The atmosphere of the company is also very poor, with constant internal factional struggles and mixed fights between all parties.
But now, the company has a peaceful atmosphere, everyone speaks harmoniously, and the work is much smoother.
Nie Xiaoying's order will be executed immediately without any discount.
Seeing all this, Nie Xiaoying had to be convinced, this is the shadow of a famous tree. Wang Ye has only become the second largest shareholder of the company, and he has not personally intervened in the management of the company, and people from all parties have already gotten the news.
And Wang Ye's influence has begun to come to the fore.
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Nie Dingwen sees Wang Ye's current influence very accurately, so he will strongly advocate transferring part of his shares to Wang Ye in order to be firmly tied to him.
Wang Ye is now, just like Nie Dingwen said, he is the most special one in China!
He has never had this kind of identity before, and it is estimated that it will be difficult to have it in the future. Those halos on the body may not be very easy to use for "offense", but for "defense", it is very suitable.
Clear-eyed people, no one will provoke Wang Ye.
Because the gains outweigh the losses, maybe the advantage is not taken, but it has caused a lot of very tricky trouble, and it will have a very bad impact, international impact!
This is exactly what everyone should try to avoid.
And this is the value of Wang Ye, and it is also the "armor" that he worked hard and paid a lot of money to build for himself.
Nie Dingwen saw this, so if he wanted to use Wang Ye's influence, he had to show sincerity, for example, a 15% stake in Starlight Real Estate......
Two days ago, Nie Xiaoying didn't understand why her father wanted to take out so many shares to win over Wang Ye, of course, now she understands.
These shares, it is worth giving!
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During this time, not only Wang Ye had a harvest in China, but also got a 15% stake in Starlight Real Estate.
In the United States, the team he sent out also had a great harvest.
Through private communication and transactions in the circulation market and with various asset management companies. The Estee Lauder Companies' stake has already taken about 20%.
Although things are done very secretly, even when I go to negotiate with various asset management companies, I use different people and different company names.
However, there is no impermeable wall in the world, and this matter is still noticed by the people of the Lauder family.
The Lauder family also has a head and face in the United States, and their network is even more extensive, and it is impossible to make trouble on their land without being known by them.
"Father, something is wrong, some of my asset management companies with good relationships informed me that they had sold all the shares in their hands, and a mysterious acquirer gave a good price. β
Chairman William reported to his father, Leonard.
He didn't blame those asset management companies in his words, because others don't hold many shares of Estee Lauder, and they don't need to disclose information when they buy and sell, or even tell him.
Now, the other party told him that this is a favor because the relationship between the two parties is good.
So William had no reason to blame the other party at all.
Leonard was stunned for a moment, and then grinned: "How many shares can there be, the outstanding shares outside are only 60%, even if someone can buy half of them and become the nominal majority shareholder of the company, so what!"
Leonard is confident that the Lauder family has a firm grip on the company's board of directors because of the company's AB share structure.
It doesn't matter who holds the tradable shares outside, because it will not threaten the Lauder family's right to speak in the company.
But William was a little uneasy, he frowned and said: "I always feel that something is wrong, this acquisition of Fuhua Company, we have issued a lot of Class B shares, and our family's control of the company has decreased a lot." β
Leonard shook his head and said nonchalantly, "But our family still has 67% of the voting rights, as long as there is no problem with this part. Even if all the other shareholders join forces, it is completely useless! What's more, with so many shareholders in the company, how can they really join forces. β
This also makes sense, in addition to the large shares held by the Lauder family, the number of shareholders of the Estee Lauder Companies is very large.
Those small shareholders basically don't have many shares in their hands, and 0.5% of the shares can be ranked in the top ten shareholders, which can be seen.
So although William learned that someone was buying Estee Lauder shares privately, he didn't pay much attention to it.
They are father and son, but they think it's a good thing!
Because this may be an investment that investors feel that Estee Lauder will have a good development and make an investment in advance.
It's certainly a good thing to be recognized.
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After returning from Pengcheng, EstΓ©e Lauder's board of directors went through the process and announced the acquisition of Fuhua.
The market response was mediocre, because the company had no reputation in the United States at all. Moreover, The Estee Lauder Companies, or cosmetics companies, or even Jahwa companies, is itself a company that needs to be constantly acquired.
Look at Procter & Gamble, Unilever, L'Oreal, which year do not acquire a few or even dozens of brands.
Therefore, this kind of news of brand mergers and acquisitions, if it is put on other industries and other companies, it is major news, which will cause the stock price to skyrocket or plummet.
But in the Jahwa industry, this is just a trivial matter, and not many people will pay attention to it.
Investors pay attention to the company's annual report!
Buying a brand or selling a brand, this is all fake, only the annual revenue, profit, market share, these data are real!
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Ronald didn't worry about that, and now he is focusing on how to raise money and participate in the Christie's spring auction in London to get those famous paintings off his choice.
He is also a VIP customer of Citibank's private bank, and the wealth management and asset custody are handled by Citibank, so if you want to take out a loan, of course, you still have to find Citibank.
With Ronald's net worth, it is not difficult to borrow two or three billion US dollars, and Citibank is also happy to lend him money.
On this day, Ronald came to Citibank's New York headquarters to prepare for this loan business.
In the parlor of the private bank, Ronald saw that not only his personal financial adviser Richard Zai, but also a stranger, tall and strong, dressed in a crisp suit, seemed to know that it should be an executive of the bank.
"Mr. Ronald, let me introduce you to the new Senior Vice President of the Credit Department at our bank's headquarters, Mr. Pitt. Because you have a large loan amount this time, it is Mr. Pitt who will talk to you personally. β
Pete warmly shook hands with Ronald and greeted him, and Ronald responded with a smile on his face, and the two sat down separately.
"Mr. Ronald, with your past creditworthiness and asset guarantees, there is certainly no problem with this $300 million loan. Pete spoke.
Ronald was satisfied, and a smile appeared on his face.
"However, there is another question that you need to answer, and that is that with this loan, you have borrowed a total of $560 million in our company. The last $260 million is about to be repaid, so I would like to take the liberty of repaying it, do you have the ability to repay?"
Pete asked again.
Ronald couldn't laugh at this time, he has a lot of shares in Estee Lauder, worth up to six billion dollars.
However, these shares cannot be realized.
He can use shares as collateral to take out a loan, but what about repayment, in the past, Estee Lauder was very profitable, and the annual dividends could be used to repay the loan.
However, last year, the company's efficiency plummeted, and the year-end dividend was very small, and now it is facing the pressure of repayment.
Actually, Ronald has another way to solve this problem.
That is to borrow money from his brother Leonard, but he will definitely not use this method, and if he wants him to bow his head in front of his brother Leonard, then he would rather die!
Frowning, Ronald asked: "Mr. Pete, I have been cooperating with your bank for many years, and this year my situation is quite special, so I can apply for an extension of repayment." β
Pete said with a smile on his face: "Of course you can! But this is not a long-term solution, this year has been extended, then next year your repayment pressure will be even greater, we still think of a better way, once and for all." β
Ronald's heart moved, and he asked rhetorically, "Is there any way to do it once and for all?"
"Have you ever thought about selling your shares?" asked Pete, staring at Ronald's face with a blazing eye.
Ronald really thought about this question, he not only thought about it but also did it!
In 2009, because of the debt, Ronald cashed out more than $100 million in Estee Lauder stock.
In fact, he doesn't attach much importance to these things in his hands now.
But there are too few people who have the strength to take over, although Estee Lauder is famous in the cosmetics industry, but the cosmetics industry is a traditional industry after all.
In recent years, the real big money has been flowing to Internet companies, and few large funds are willing to invest in these traditional industries.
This can be seen from the list of shareholders of The EstΓ©e Lauder Companies, which has many large asset management companies among its shareholders.
However, those companies hold less than 1% of the shares of Estee Lauder, which is not to say that Estee Lauder shares are very sought-after and cannot be bought, but that others are not willing to invest more.
The shares in Ronald's hands are worth six billion dollars! If he really wants to make a move, he will definitely not be able to go through the circulation market, because that will collapse the company's stock price!
If you look for a big buyer to take over, it is really difficult to find a buyer who can pay so much money at once.
So, he just thought about it.
Now listening to the senior executive of Citibank's credit department in front of him, Ronald's heart moved, is there a buyer interested in the shares in his hands?
This is a good thing, with so many shares in your hands, don't you completely solve your financial problems by selling some of them?
As for affecting the Lauder family's control of the company, Ronald doesn't care too much, anyway, the chairman of the company is not his son, and he doesn't have much say in the company, so why worry so much.
Of course, he also knew that even if he sold some of his shares, it would not really affect the Lauder family's control of the company.
After all, the family still has 67% of the voting rights in the company.
"Mr. Pitt, is there someone who wants to buy my shares?" Ronald asked with interest.
"Of course, if Mr. Ronald wishes, I can find a successor for all the shares in your hands. Pete said quietly.
This scared Ronald, although he wanted to cash out some of the shares, he really didn't want to sell them all.
After selling them all, how can I explain to my family members?
Of course, the temptation to get six billion dollars, or even more, is really great......
Ronald's face changed from one to another, and he was nervously thinking about whether it was better to sell it or not.
"Mr. Ronald, I don't need to remind you, as you must know, this kind of large acquisition is generally at a premium. Pete added another weight, and there was temptation in his tone.
Ronald blurted out: "How much is the premium?"
He immediately reacted and smiled embarrassedly: "I'm just asking, and I don't have to sell shares." β
"Why don't you sell it? The opportunity to cash out a large amount of shares is also very rare, and if you miss this opportunity, you will never encounter it again. Pete asked in surprise.
Ronald also understands that Pete is right.
While it is true that some companies are hard to buy, those are all companies in a period of rapid growth, and most of them are non-listed companies.
Companies that are really listed are generally worried about how to cash out large sums of money!
The shares in his hands, to be honest, have the identity of Class B shares, which may have aroused the interest of potential acquirers.
If it weren't for Class B shares, it is estimated that there would be no such thing as a premium. Because in the circulation market, there are 60% of the circulating shares, why do others have to come and buy these in his hands!
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Ronald was caught in a dilemma.
Selling the shares, he felt sorry for his family, no matter how he looked at it, it meant betraying the family.
These shares, which were left to him by his mother, also brought him identity and status, and now he wants to sell them.
There are also a number of consequences that could result in the loss of control of the company by the Lauder family.
However, Ronald thought again.
The company is at the helm of the eldest brother's family, which has little to do with him, and he and the eldest brother disagree on many things.
Over the years, I have also suffered a lot of grievances on the company's board of directors.
So why should I worry about his feelings now, just cash out, get a huge amount of money, and do what I like?
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