Chapter 330: Dividing Citi
。 Robert couldn't hold on. ”
This was the first thing Dimon said when he saw Lin Fan, and even Lin Fan saw the faint smugness on Dimon's face. Indeed, it is very rare to push a banking giant into a corner, not to say that it has never been seen before.
Lin Fan held back the tiredness of just getting off the plane, took a sip of coffee, and prepared to slowly listen to Dimon tell the whole story, Dimon needed a confidant, and it just so happened that Lin Fan was also very interested in what happened when he was not in the United States during this period of time.
"Would you be interested in telling me this story?"
"Of course. The corners of Damon's mouth curled slightly, looking very good, "Our previous plan has come in handy, several crises have caused shareholders to gradually lose confidence in Citi, but the most fatal is the loss of Citigroup's financial business....... It was only now that Robert became aware that his former Treasury Secretary was not a good name, and Citi's list did not appear in the latest aid package of the Treasury Department. In the end, there was undisguised schadenfreude in Damon's tone.
The corners of Lin Fan's mouth couldn't help but raise a smile, the Ministry of Finance's $800 billion rescue plan was actually forced to do so, which was almost the major consortia on Wall Street forcing the Ministry of Finance to bail out the market. If the Treasury doesn't bail out the market, the U.S. economy will be on the verge of collapse. But the Treasury also has its own choices, such as which companies to save.
"So now Citibank's shareholders can't help it?"
Although Dimon had a smile on his face, his tone was still not relaxed, "These old guys don't see rabbits and don't scatter eagles, even if Citi doesn't work, they still want to sell it for a good price." That's why we're preparing $45 billion. ”
Lin Fan didn't want to take this talk, he paid no less than the Morgan family in this transaction, but his cash assets were used, and Morgan used his own fame, relationships, resources and other intangible assets.
"We're probably going to have to talk to Citi about the split in the near future. ”
"Ready for distribution?"
This is also the main reason why Dimon came today, and he spoke to Lin Fan in advance, "At present, Citigroup's assets are about 80 billion, which will be divided into two companies, Citigroup Holdings and Citibank, Citigroup Holdings includes Citigroup's existing financial, insurance and other investment businesses, worth 30 billion US dollars. Citibank will have traditional banking operations, including bank outlets around the world, real estate, personal savings deposits, and more.
Citigroup will be part of J.P. Morgan and merge with J.P. Morgan's existing business. As for Lin, you will become the controlling shareholder of Citibank. ”
After that, Dimon handed over a contract to Lin Fan, "If you agree to our distribution, you can sign it now, and then transfer the 30 billion account to me, and you can stand on the board of directors of Citibank in a month." ”
Lin Fan flipped through it roughly, and then smiled, "I think Damon you are kidding, can I only get fifty-one percent of the shares?"
"Lin, you only invested 30 billion, and you gained control of 50 billion assets, and you earned. ”
"Damon, don't tell me that these assets have no liabilities. Or, I find a lawyer to help me review some contracts. ”
Dimon smiled, not at all embarrassed to be exposed, "Then how many shares do you want? ”
This is indeed a problem that cannot be ignored, and perhaps if Morgan did not come forward, Lin Fan would not have been able to get Citi at all. After all, the parent company of Citibank is Citigroup, and Citigroup is a super financial company with a market value of 7,000 US dollars in its heyday, and Citigroup still exists with Citigroup as the core, one of the top ten consortia in the United States.
"You have to give up some of your shares, Morgan has to get some of it, and Citigroup has to take out some of it, otherwise Citi is really not reassuring to put it in your hands, even if Citi is not much different from an empty shell now. ”
Lin Fan said strongly, "I must control at least 60% of the shares, otherwise once Citibank is relisted, I will lose absolute control of the company." ”
"Lin, you're a little greedy. ”
Lin Fan smiled faintly, "Actually, I'm not greedy at all, doesn't Mr. Dimon remember that I bought a stake in Citibank and obtained five percent of the shares long ago, in fact, I am the largest individual shareholder of Citibank." ”
Damon's face changed, he thought that Lin Fan had forgotten about this stubble, and he faintly heard Lin Fan's threat, Lin Fan, as the largest individual shareholder, was qualified to influence the acquisition of Citigroup. However, he was prepared, and then took out another contract, "Lin, you might as well take a look at this contract again." ”
Lin Fan put it away directly, "Damon, I will leave the specific matter to my personal lawyer, as long as my equity exceeds sixty percent, I will basically agree." It's been a long time since we've seen each other, so let's not just talk about work........"
Dimon nodded helplessly........
Walking on the streets of Wall Street, you can fully feel the desolation here, and you can open a newspaper at random, and almost every line is full of pessimism. The crisis came so suddenly that Americans woke up from their American dream.
The Wall Street Journal – The recent much-boiled Citi split has finally come to the fore that JPMorgan Chase will come to the rescue of a former giant, and another 100-year-old Wall Street company is on its way to extinction. However, neither JPMorgan nor Citi has made any specific announcements......."
"New York Daily News - Wall Street has always been known as the world's financial center, and Citibank here is the king of kings, but today's Citigroup CEO Robert who appeared on the streets of New York is not good, I wonder if this is related to the just reported that Citi was divided. If this happens, Robert will undoubtedly be the shortest-serving CEO in Wall Street history, and he has done something that no other CEO will ever be able to surpass, bringing a century-old financial giant to its demise in the shortest possible time......."
Lin Fan closed the newspaper with satisfaction, the Wall Street media's sense of smell is definitely better than Lin Fan imagined, of course, there may also be the result of Dimon's push. But what made Lin Fan happy was that he didn't see his own information from this, Lin Fan did not reject the feeling of being famous, but it was definitely not famous now.
It's not a good thing for a child to suddenly become a giant. It would be reminiscent of how much wealth Lin Fan had embezzled in this crisis, and Lin Fan didn't want Americans to think of themselves as vampires. He needs Americans to have a good impression of him, and this is the second center of his career, in addition to China.
As Dimon said, Lin Fan only has to wait for the results, and maybe he will only need to come forward when he finally becomes the controlling shareholder to deal with the pressure from Congress and the Treasury Department, so Lin Fan wants to do something he wants to do.
For example, invest in a gaming company.