Chapter 203 Mergers and Acquisitions

Qi Meng's report has attracted great attention from the Commission for the Reform of the System and at the top level.

In the late 80s and early 90s, China had many large state-owned enterprises that were in a half-dead state. A small number of them are able to survive on their own, while most of them can only rely on state grants and national policies to find a chance of survival.

This is obviously the most costly way to recover. In addition, the way of joint ventures with foreign companies and the use of foreign technology and capital to revitalize large domestic enterprises has attracted more and more attention from the upper echelons of the state. In the final analysis, this is a helpless move to exchange the big for the small, and it also produces a paradox: if foreign companies can buy China's large enterprises, why can't domestic private companies buy the country's large enterprises?

For this reason, there have been quite intense discussions within the entire Commission for the Reform of the System.

Sioux City pretended to know nothing about it. A comrade of the Commission for the Reform of the System can talk about structural reform and "why", but since he is already running an enterprise, it would be suspected of going beyond the box to talk about these things.

Taking advantage of the opportunity in Tianjin, Su Cheng and Shulan tasted delicious food...... Or rather, it was Sioux City who watched Shulan taste the food...... Eighteen pleated dogs ignore the buns, and they will get tired of eating a cage; the eighteenth street twist is known as crispy and sweet, and Su Cheng will be full directly after eating the first half of the one, and the rest of the baked cakes, nuts, fried chestnuts with sugar, and lama cakes can only be eaten by Shu Lan. She searched all the way, and soon found a new target, jumped excitedly, pointed to the signboard of "Eight Big Bowls", and made a "hmm" sound in her mouth......

"Foodie. "Sioux City doesn't know what the Eight Bowls are. I entered the door and found a place to sit. Seeing that there was no work to greet him, he turned back to the door to buy a ticket.

Sioux City asked for "eight big bowls" by name, and the conductor lazily asked, "Do you want a thin bowl or a thick bowl?"

"What's the difference?"

"Thin or coarse?" the conductor looked impatient, as if someone owed him money.

Su Cheng was stunned for a moment before he realized something, and asked, "You are state-run?"

"To buy or not to buy? ”

Su Cheng glanced back, there was really no one.

The corner of the conductor's eyes fell, and he said, "What, you can waste time if there is no one behind?" ”

Since the crossing, all I have eaten is a big pot of rice. Whether it's an oil field or a factory. Everyone looks up and doesn't look down, and there is always a bit of service attitude. The master of the oilfield canteen often sent steaks to him, a real barbaric service. Sioux City really didn't see much.

At this moment, Su Cheng was finally convinced, obediently took out the money, and said, "Just make a thin bowl." ”

The conductor brushed twice, found the money, threw out a wooden board through the glass window, and ignored him.

Su Cheng picked up the wooden plank, only to see that the front was the capital number "Yi Shiwu", and the back was the word "thin bowl", which was simple and clear.

Think of what the conductor said. Su Cheng was secretly speechless again, thinking: The dishes eaten by 8 people, let Shu Lan eat alone, there will be no accident, no matter how you look at her, she doesn't look like she can be filled.

Su Cheng glanced back weakly, but was surprised to see another group of people enter the store, led by Formosa Wang Sheng and his party. Accompanying him was about the officials of the Tianjin City Government, and when COSCO Shipping was building a new factory, Su Cheng seemed to have seen it.

Compared with when he was in Taiwan, Wang Sheng's style is more sufficient. is full of foreign investors, and looking at the posture of the city officials next to him who can't wait to hold him in the palm of his hand, Su Cheng is quite funny.

Stunned, Wang Sheng first shouted in surprise: "Chairman Su?"

As if Su Cheng woke up, he greeted him and said with a smile: "Mr. Wang is here." ”

Wang Sheng smiled. Said quickly: "When did Chairman Su come to Tianjin, and I am still going to Dahua to meet him." ”

There are two words "Dahua", and people who don't know each other know who is on the other side. And then a smirk rose.

Su Cheng shook hands with him gently and said, "I've only arrived for a short time, you're here to see the place?"

Wang Sheng was a little embarrassed and said "yes".

Formosa Plastics' $7 billion petrochemical base is still under preliminary negotiations, and the site has been preliminarily determined, but it does not prevent them from looking at a few more places. In particular, when local officials are extremely proactive, even if the investment is not finalized, it is a good way to understand.

However, Sioux City is also a partner of Formosa Plastics, and it also wants to invest in the methanol plant in Formosa Plastics' petrochemical base, but it was met without prior notice, which made Wang Sheng a little surprised.

Su Cheng laughed twice, skimmed over the matter, and said, "You are 6 people? It just so happens that I ordered eight big bowls, let's go together." ”

"Then you're welcome. Wang Sheng said with a smile: "I just came to taste Tianjin food, I wanted to come alone, but I couldn't say anything, so I could only come with a group of people." ”

Su Cheng smiled deeply and thought: If you come alone, can you stand such a state-run hotel? Perhaps, a set of theories of lax management can be derived.

The city secretary who followed at the end was very clever, asked for the wooden sign from Su Cheng's hand, returned to the conductor, and said a few words, and the conductor's attitude immediately changed.

The eight bowls are extremely fast, that is, eight sea bowls, which are filled with food. Wang Sheng and Su Cheng ate freshly, and the others pretended to eat a few bites before they stopped using chopsticks. Only Shu Lan happily ate every sea bowl to the bottom.

Wang Sheng was dizzy, turned his head, and smiled at Su Cheng: "You came to see the factory of COSCO Shipping? I heard that Haliburton is very expensive." ”

"I'm actually here for another acquisition. Su Cheng didn't hide it, so he told him about the Jinshi General Factory.

Although Tianjin is large, vice-ministerial-level factories are also rare, and when I heard that Sioux City was going to merge with Jinshi General Factory, several government officials paid attention.

Wang Sheng was also surprised: "Your movements are really not small. Isn't there a school and a hospital at the Tsuseki Factory? It's a bit like the size of BP. ”

"Mainly technical schools and research institutes, hospitals and sanatoriums, which I am ready to sell or leave to them. "The level of technical schools in state-owned enterprises is quite good, because of the heavy work tasks, the high technical content of the work tasks, and the large number of senior workers in the factory, the technical school students can often get abundant exercise, and there is a certain difference between the schools that later generations spent money on.

Of course, technical school students in the eighties and nineties were worthless, and during this period, including factories, it was university students who were valued. This is entirely driven by supply and demand.

Wang Sheng pondered for a moment and said, "How much?"

"The total price is between 50 million and 150 million yuan. Su Cheng smiled and said: "Jinshi General Factory has a lot of debts, and the bank loan alone is close to 200 million, and there are tens of millions of debts owed to suppliers. ”

"Triangular debt. "City officials also know.

Su Cheng nodded slightly and said, "I'm ready to buy more than 80% of the shares." Between 40 million and 120 million yuan. Of course, debts are also shared. ”

"Can they afford to take on the debt?" Mr. Wang, who is also familiar with China's officialdom ecology and knows how difficult it is to get money out of the government.

Su Cheng chuckled and said, "If the Jinshi General Factory is unwilling to sell, I'll buy something else." ”

He is confident that the Commission is willing to try private mergers and acquisitions. As long as there is state support, Jinshi General Plant can hold on, but after all, it is just a long time, and the country may not be able to take out hundreds of millions of yuan to solve the problem. Maybe in 10 or 20 years, the Jinshi General Factory can be reborn by selling land, and use a large amount of money to build a new factory in other cities.

Such factories were not uncommon in China at this time. Unless it gains a monopoly on resources, the 20,000-worker, with thousands of retired workers, will never be able to survive the quagmire of high costs and low output.

Sioux City promised to build Jinshi General Factory into an offshore equipment company, and this alone is not a small temptation.

Wang Sheng saw that Su Cheng had a plan, so he didn't say more. Formosa Plastics has provided a large amount of capital to Dahua Industrial to develop the Setan oil field in Abu Dhabi and is one of the major creditors. However, they cannot interfere with the normal operation of Dahua Industrial, which is also the difference between debt and shares.

After sweeping the food, the BP machine in Suzhou City rang, and it was the news from Qi Meng.

Wang Sheng asked with interest, "What's wrong?"

"I guess there's a conclusion. Su Cheng was a little nervous in his calmness, and then said with a smile: "Mr. Wang, let's go to Jinshi General Factory to have a look?"

"If you don't, I'm too embarrassed to go. Wang Sheng was not humble. For such a big thing, it's important to have first-hand information.

City officials looked at each other, quickly followed, and offered to provide rides.

The group went to the Jinshi General Factory at a gallop, only Shulan, who was wearing twist flowers.

When I arrived at the Dejin Stone General Factory, it was already afternoon.

Huo Chang, Li Lianxiang and others had been waiting outside the gate of the Jinshi General Factory for a long time, and handed over the inspection report to Su Cheng.

Everyone is a little nervous, this is not as good as the merger of Jinan Power Engine Factory. The latter is a zero-input purchase, and although the Jinshi General Plant is not operating well, it has not reached the level of insolvency after all.

"Let's go inside. Sioux City looked up, and the first thing he saw was the towering building in front of the door. Compared with the last time he accompanied Liu Bing, his mood was completely different.

When you enter the factory, you will see the vast space full of green trees. Along the margin, there are even two small natural forests that connect to the distant mountains.

Everyone walked around and took a look, and then under the leadership of the administrative staff of Jinshi General Factory, they entered the small hall.

Wang Sheng's appearance made Du Lijun a little frightened.

Soon, his gaze turned to Sioux City again.

The latter's eyes were calm and he couldn't see his thoughts.

Qi Meng, Ding Zhipeng and other members of the Commission for the Reform of the System, as well as Minister Guo and other officials of the Ministry of Energy, all sat on the rostrum. The two sides were ceded to Dahua Industrial and Jinshi General Factory.

Soon, an old man he didn't know sat in the center of the rostrum. He didn't have any polite words, opened the document in front of him, and said: "We are discussing the merger and acquisition of Tianjin Petroleum Machinery Corporation by Dahua Industrial today. It's a novelty for us. ”

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