In addition to investing in India, one of the most important aspects of the Four Elephants Fund at present is the acquisition of a Dutch company. Of course, the money will not come out of Sixiang Fund, and cooperative units such as Legend Holdings will also follow and form a private equity consortium to Europe.

The scale of this acquisition is nothing compared with the acquisition of AIA, and the overall acquisition may only be less than 5 billion ~ euros. The big guy really didn't look for him for this matter, even if the Four Elephants Fund asked the National Development and Reform Commission to give the green light in order to acquire this company.

"Simon, are we really going to build a second overseas center in the Netherlands?" Zhu Yunlai was only familiar with the fact that Sixiang Fund had not been facing such a huge challenge for a long time, and he was both excited and a little incredulous.

"We've all discussed it many times, don't you agree," Hu Zuniu

Yes, in addition to the United States, Zhou Shi is going to establish his own second center in Europe, and most of the funds are borrowed from European and American banks, mainly HSBC and RBS.

"The country has established the Belt and Road Initiative and the Maritime Silk Road strategy, how much effect can our acquisition play, and what else do we need to consider?

"No, it's just that FedEx has also joined the race for TNT. ”

"It's not normal to have competitors, I don't believe that so many interests have been spilled, and the EU will block our acquisition. "Zhou Shi, although he has money, almost all of this acquisition uses loans, except for earning interest differentials, just to buy EU financial institutions to speak for them. For this, they pay an additional information service fee.

TNT is the world's fourth largest logistics express company, and its main advantage is that it has a large share of the B2B express market within Europe and the international express market between China and Europe. It has a well-established road transport network in Europe. It has 12% of the market share in Europe, about 1% in the Americas and 4% in Asia, but the network in Southeast Asia is relatively well-developed. There was originally a logistics subsidiary called TNT Hoau in Huaxia, but unfortunately it was later sold to CITIC Industrial Fund.

After the subprime mortgage crisis, there was an over-issuance of money around the world, inflation, and in contrast to rising employee wages, but it was difficult for the company, which is mainly a corporate customer, to raise prices. In 2012, United Parcel Service (UPS) announced that it would buy TNT for 5.2 billion euros, but it was ultimately vetoed by the European Union because of monopoly issues. It's been two years, TNT's business situation has not improved, and it is still looking for a buyer.

Zhou Shi, who finally had his hands free, discovered this opportunity, and as soon as he conveyed this intention, someone immediately took the initiative to come to the door. That includes HSBC!

"We also acquired TNT with the aim of establishing our European headquarters in the Netherlands, which does not levy withholding tax on interest and license fees paid abroad, does not levy repatriation tax on branch profits, exempts from capital gains tax and dividends tax on its own subsidiaries, and can also negotiate with the Dutch tax authorities in advance to determine the amount of tax payable, and determine the amount and method of payment in the future years in the form of an agreement. With a 30% income tax exemption for expatriate employees, it can be said that the Netherlands has a natural function as the EU headquarters of companies. "Hu Zuniu

What he didn't say was that tech companies such as Google, Apple, and Facebook adopted the Dutch sandwich tax avoidance structure to reduce their actual tax burden to about 16 percent. The fact that the U.S. technology companies are so competitive is related to their taxes, and of course, the actual tax burden of Huaxia and U.S. Internet companies is actually about the same. If you only consider it in terms of taxes, in fact, Ireland has a lower level of taxation, and it also has the title of Silicon Valley in Europe, where many Silicon Valley technology companies are located. The tax reform in the UK a few years later reduced the corporate income tax to 19% (about 17% in Singapore and Hong Kong)

However, the Netherlands has become a world-renowned tax haven, which shows that there is a lot of room for manipulation in tax revenue. This small country is home to 12 Fortune 500 companies, including Shell, Philips, Unilever, Akzo Nobel, ASML and NXP.

"I also know that it's just the acquisition of three or four billion soft sister coins, we are really a private enterprise?" Zhu Yunlai

"We are a large Chinese-led multinational consortium with roots in China. We are a group of capitalists with ideals!"

"It's a pity that you weren't involved in our acquisition of AIA, otherwise you wouldn't have been so apprehensive. "Hu Zuniu

The Four Elephants Fund is owned by Guoke, a smartphone company with a market value of 100 billion US dollars, and AIA, the largest life insurance company in Southeast Asia, whose market value has also reached 50 billion US dollars due to the rapid development of the domestic market. There is also the country's largest social media friend network, and the country's largest film and television company, Starlight Film and Television. No matter how it is calculated, it is the largest financial company in the country except for state-owned enterprises. It's just that the management of its subsidiaries is a little weaker.

"Yes, I really shouldn't have to suffer from gains and losses!" Zhu Yunlai

"If this acquisition can be successful, it will open a hole for Huaxia's logistics industry and give Huaxia's logistics industry the opportunity to participate in world competition. "Zhou Shi

"So have you considered the development of the logistics industry?" said Zhu Yunlai

"How do I understand this!" Zhou Shi hurriedly shirked his responsibility

"I know this, Simon, you are too modest, you proposed the intelligent backbone network of Huaxia Logistics ten years ago, and now it is about to become a reality, you are still modest. "Zhu Yunlai

"Do you know this?" Zhou Shi thought about the he bragged with Jack Ma at the beginning, and it was funny to think about it, if he couldn't bear it and invested in the rookie network when he had no capital, he would probably be dragged down by himself. A lot of things are about timing, and doing the right thing at the wrong time can make it difficult to get the results you want.

"Jack Ma and Chai both told you the story of Ali!" Zhu Yunlai

"It was stupid at the time...... Let's talk about the development of logistics companies, and if we can take over, how will we improve TNT's operation? "Zhou Shi

"If judged according to the development direction of Time Fruit Shell, the future logistics company will transform into a technology company. "Hu Zuniu

"Why do you say that?" said Zhu Yunlai

"Guoke's drone knows, Guoke also acquired an Israeli advanced driver assistance system company, and the future direction is driverless cars. Time and Yahoo have advantages in the field of artificial intelligence and big data, and can better plan logistics routes

"I have an idea when you say this, can we do supply chain logistics, use artificial intelligence and big data analysis and other scientific and technological advantages to enter the field in advance, provide customers with information and planning, and expand from contract logistics to virtual production and logistics finance!

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