Chapter 405: Woe to Xiao Wall
CJ Group is a group company with great potential, and after the Asian financial crisis, CJ Group expanded its business into media, entertainment, finance, information and communication fields, and quickly developed into one of the top 10 groups in Korea.
In the entertainment media career, CJ-Eamp; amp; amp; amp; amp; amp; amp; amp; amp; amp; amp; amp; amp; M is Korea's No. 1 entertainment media company, and is at the forefront of the internationalization of Korean culture through its participation in various fields such as television media, movies, performances, music, and animation, and conveys emotion and fun to global audiences. M-net, the largest music entertainment company in Asia and the most famous online commercial channel in South Korea, independently produces complete entertainment and music programs, which are broadcast on a daily basis. M-net has spearheaded the entertainment media in Korea, cementing its position as the largest music website in Korea with a rich form of music content and high customer loyalty. The company has also cultivated many famous artists, such as the beautiful singer Sun Danfei, the women's group T-ara, the "capable person" Kim Jong Kook and so on......
The M-net Asian Music Awards (MAMA Awards) have also become one of the most important events in the Korean music industry, with many well-known artists and bands in attendance, such as Super-Junior, Girls' Generation, SHINee, T-ara, 2PM, SISTAR, BEAST, Big-Bang, 2NE1, TVXQ and other highly-rated artists active in Korea.
CGV is also a subsidiary of CJ Group and the largest cinema company in Korea, investing in the investment, construction and operation of multi-hall high-end luxury cinemas.
In the food and beverage business, Tous Les Jours, Tosun Coffee, Bibigo, Wei Epsi, etc., are must-visit places for Korean foodies......
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CJ Group Chairman Lee Mong-hee is the eldest brother of Samsung Chairman Lee Kun-hee, and at this moment, the two are fighting over the family property.
Originally, Li Mengxi was designated as the heir of the Samsung Group in the sixties of the 20th century, but in 1966, when he worked in a fertilizer factory owned by Samsung, he did not realize his greed and smuggled 56 tons of chemical raw materials from Japan. Unfortunately, the matter was discovered. After that, he lost the favor of Samsung's founder, Li Bingzhe. In the end, Lee Mengxi only inherited the First Sugar Company and set up his own business, changing the name of First Sugar to Xijie Group. It was originally the emperor's life, but who expected it to become the prince in the end, and whoever this rested on was unwilling......
CJ Group is just a small food company spun off from Samsung, and Lee is certainly not satisfied. He accused Lee Kun-hee and said, "It's unfair that Lee Kun-hee almost monopolizes the entire Samsung Group! I am the eldest brother, and Samsung's assets should be shared with me a little more." But Lee Kun-hee's greed for not giving a cent will eventually be able to avoid the brother's rivalry and go to court!"
Lee Kun-hee said in a cold and resolute tone, "No one will think that Lee Meng-hee is the eldest grandson of our Lee family and the eldest brother of my Lee Kun-hee!", "He is already a person who has been kicked out of our family!!", "Although he himself says that he is the eldest grandson and eldest son of Samsung, all family members, including me, do not think so." We will not allow him to come to our family's sacrifices!!"
The fight between Lee Meng-hee and Lee Kun-hee over the family property naturally affected the company. It can be said that at this stage, CJ Group is too unstable due to internal and external troubles. When Henry said that he wanted to buy CJ Group, a large part of CJ Group's shareholders were quite impressed.
However, as the largest shareholder of the company, Li Mengxi holds about 31.6% of the shares, and has a great voice. At the same time, there are many shareholders on his side. If Lee Mong-hee does not support Henry's acquisition of CJ Group, then the acquisition will be difficult!
In the first round of discussions, the price of the $5 billion acquisition of 75 percent did not satisfy Lee Mong-hee, and if it were not for the Asian financial crisis, CJ Group's market value would have been at least $10 billion or more! In addition, CJ Group was Lee Mong-hee's career after he set up his own business, and he would not give up easily! Therefore, the first round of negotiations ended in failure.
When Henry received the news, he frowned and pondered. CJ Group was far from going bankrupt during the Asian financial crisis. Henry has studied the history of CJ Group, which is basically based on the food industry, and has developed step by step. Although it is also diversified, it is very stable and does not make any advances. In addition, CJ Group's main business is food production, so people can not be entertained, but they cannot skip eating, and CJ Group's losses are small. Therefore, CJ Group is able to weather the financial crisis.
Henry paced a few steps in the office, and suddenly thought that Lee Mong-hee and Samsung Chairman Lee Kun-hee were fighting for the family property, isn't this a breakthrough? The corners of Henry's mouth rose slightly and laughed, if he could help Lee Meng-hee and Lee Kun-hee compete for Samsung's family property, Lee Meng-hee might not still value CJ Group so much, maybe he would agree to buy CJ Group by himself.
At the same time, Samsung's chairman Lee Kun-hee had Lee Meng-hee to trouble him and distract him, and Samsung's development must be much slower.
The fortress is easiest to attack from within!
Lee Byung-cheol has three sons, the eldest son Lee Meng-hee, the second son Lee Chang-hee, and the youngest is Lee Kun-hee. In that year, in the "Prince's Rebellion" of the Samsung Empire, Lee Byung-cheol imprisoned Lee Chang-hee in order to put Lee Kun-hee on the throne, and wanted to imprison his eldest son Lee Meng-hee in a psychiatric hospital in the name of suffering from paranoia. After Lee Byung-cheol's death, Lee Kun-hee successfully inherited Samsung. Lee Kun-hee's two elder brothers, how can they be convinced?
Now it's just Lee Mong-hee and Lee Kun-hee, Henry thought to himself, and also pulled Lee Chang-hee in and challenged Lee Kun-hee together.
Wouldn't it be more interesting for the three brothers to "fight"?
However, at present, it is better to get Lee Meng-hee first and acquire CJ Group in one fell swoop. Henry immediately sent someone to inform Lee Meng-hee, and said, "Mr. Lee Meng-hee, our boss, Mr. Williams, heard that you are fighting with Lee Kun-hee, the chairman of Samsung, for property. So, he's going to take your side and use his connections and propaganda power to show his support for you!and, of course, the strongest legal team......"
Li Mengxi knows that there is no pie-in-the-sky good thing in the world, why would others help you for no reason? He was like a mirror in his heart, since Henry expressed his support for himself, then he must have something to ask for, and he had to give something. It's clear that Henry wants to buy CJ Group......
That night, Li Mengxi didn't sleep all night, and he was thinking about this problem.
Henry, who was far away in the United States, was lazily leaning back in the chair, looking like he was holding a pearl of wisdom. He picked up the red wine glass on the table, took a sip gently, and smiled faintly at Karina, who was sitting on the side: "Woe to Xiao Wall...... Hehe, Lee Kun-hee has a headache. It seems that it won't be long before we can take over CJ Group, and Lee Meng-hee will definitely not be able to let go of Samsung! There was once an opportunity to be the 'Emperor of Samsung' in front of him, but he didn't cherish it, and he regretted it until he lost it. If he were given another chance, he would say, "I'm going to get back what I lost!"
Karina laughed when she heard this, obviously, she could tell that Henry was ridiculing Li Mengxi with the classic dialogue of "Journey to the West: Cinderella".
……
(To be continued.) )