On August 29th, Yimei and L'Oreal entered into an agreement, Yimei invested 2.01 billion US dollars to acquire L'Oreal's subordinate brand Lanko, but did not include any of Lanko's direct sales stores. Pen | fun | pavilion www. ｂｉｑｕｇｅ。 ｉｎｆｏ

After the deal got out, various media outlets were dumbfounded.

This year is not without big deals, such as Panasonic's acquisition of Universal Pictures, which cost more than $6 billion, more than the amount of several transactions by Li Mo.

The main reason is that these transactions were completed almost in ten days, and wave after wave came before they attracted the attention of many people.

Also, it's too fast.

Yimei's acquisition of Maybelline is also fast, and most of the key Maybelline shareholders have no intention of operating Maybelline, just like MGM, as long as Li Mo's price is reasonable, they can immediately negotiate it.

However, Lanko is different, it is the top brand of L'Oréal.

There was a lot of discussion in various media.

Fast is fast for a reason.

First, Xerfmann represented the two fund companies in a secret agreement with Nestlé, after which the two foundations sold the L'Oréal shares they had previously purchased to Nestlé at the purchase price.

This is what Xerfmann said, when the two companies are not much different in shares, they are not evenly balanced, but naturally form a kind of resistance, either the east wind overwhelms the west wind, or the west wind overwhelms the east wind, and they both want to compete for the dominant voice of L'Oreal.

So in another time and space, the Betancourt family, fearing that L'Oréal would be nationalized, brought in Nestle. At that time, the French government had wise officials to prevent L'Oréal from being annexed by Nestlé, and when approving the cooperation agreement between L'Oréal and Nestlé, it attached a condition: "Neither party shall sell, transfer or mortgage shares in any way for 20 years." ”

L'Oréal has been developing very well, and the cooperation between the two sides has been relatively pleasant, but there have been a lot of bumps and bumps in the secret. So after the death of L'Oréal family Lillian Betancourt, under the mediation of the French government, the Betancourt family and the Nestle Group formed an agreement, starting from 04, both parties are not allowed to increase their holdings of L'Oreal for ten years.

However, in 14 years, the two parties had some dirty problems, and with the mediation of relevant parties, Nestlé sold 8% of its shares to L'Oréal for 6.5 billion euros. Because L'Oréal lacked sufficient funds, it sold a 50% stake in another of its famous sub-brands, Gaomeide, to Nestlé for 3.1 billion euros.

As a result of this internal transaction, Nestlé's stake in L'Oréal will be reduced from 29.4% to 23.29% of the total share capital, and the Betancourt family's stake in L'Oréal will increase from 30.6% to 33.31%, thus resolving L'Oréal's biggest crisis. The previous agreement was made, and the L'Oréal stock price rose rapidly, but at that time, before the agreement was made, the crisis was even more serious.

Gao Meide is even inferior to Lan Ko, but it is not Li Mo who takes advantage.

It can also be seen from the market value of the company that the current market value of L'Oreal is less than $20 billion. But in that internal share transfer in '14, Nestlé valued it at more than 80 billion euros, more than 110 billion dollars.

One is inflation and currency depreciation, and the other is that after more than 20 years of benign rapid development, L'Oréal has become the biggest giant and super giant in the cosmetics industry.

In fact, at this price, Li Mo may have overflowed by 50% of the price.

As for the operation of Xeufmann, the French government has no clue, doesn't it let people buy L'Oreal's outstanding shares?

The sale of the sub-brand, not the shares, did not violate the additional clause added to the cooperation agreement signed between the two companies in '74.

But the biggest loophole in this clause is that it is not indicated that the two parties are not allowed to increase their holdings, and after getting the shares of Xeufmann, the shares in Nestle's hands have exceeded the shares of the Bettencourt family, that is, the shares of the legal person are still less than the Bettencourt family, or so to speak, now, the two sides have really formed a "balance of power".

For the time being, Nestlé has not made this public, and the Bettencourt family and the media are also unaware of it.

Second, due to the impetus of Nestle and the sharp rise in L'Oreal's stock price under the impetus of public opinion, the two major shareholders are afraid that Li Mo's fund company will short L'Oreal, and Li Mo's price is more reasonable, not reasonable, but very high, as for Li Mo, he is afraid that the French government will intervene.

When the price was about the same, the contract was quickly signed.

However, the outside world has not received high reviews, and everyone believes that L'Oréal's abandonment of one of its most important brands is a major loss for L'Oréal, despite the high price offered by Yimei.

Yimei is equivalent to giving up all sales channels of Lanko, and nine times out of ten, the Lanko brand will come to an end in Yimei's hands.

But the two companies don't see it that way, L'Oreal thinks that these well-located outlets are in their own hands, and they also have enough sub-brands in their hands, which is really not good, with the money from Yimei, they can buy two well-branded cosmetics companies, and they can re-support a top brand at any time.

In fact, it lost Lanko, and Maybelline in the future, but L'Oréal acquired three other companies, and the company continued to grow benignly. It can even be said that with this cash flow, L'Oréal has more to gain than to lose. It was because of the sale of a part of the outstanding shares to Nestlé on behalf of Limer, and the role played by Nestlé in this transaction, which caused a greater conflict between the Bettencourt family and Nestlé.

Of course, they also have some anger about this deal.

Li Mo also thinks that it is very cost-effective, and various media also ignore an important factor, direct sales need to be matched with relevant logistics channels, Yimei and L'Oreal are two logistics systems, so this sales channel does not matter to Li Mo. However, because of the voluntary abandonment of this sales channel and the outlets, the acquisition cost has been greatly reduced, otherwise, it will not be able to become a sky-high acquisition of three billion US dollars.

Exactly how it will be will be seen for at least a few years.

…………

"September, let my brother hug me. Li Mo stretched out his hand and said.

September happily ran over and threw himself into Li Mo's arms.

"Do you want to brother?"

"Yes, but why don't you go home?"

September is still young, and I often listen to Li Mo's parents read it, and I remember it in my heart, so I asked.

Li Mo scratched her little nose and said, "Brother is busy earning a dowry for you." ”

The two of them felt funny in their hearts, thinking, how much dowry do you have to pay for the money you earn?

Li Mo's mother reproached Li Mo: "What are you talking about." ”

The clamoring to talk to Zhao'er who came over said, "Brother Mo, I also want a dowry." ”

"Okay, I also have your part," but before Li Mo finished speaking, Huang Xiaoyue knocked Zhao'er the head. Zhao'er flattened her mouth aggrievedly.

Li Mo hugged September and asked everyone to sit down.

There are a lot of people here today, not only a few children, but also Li Mo's mother, the Le family and Li Mo's brother-in-law, as well as Yu Qingmei's sister and brother and her parents.

Yu Degui drank tea and said, "Xiao Mo, Qingmei is in the same school as you, you usually have to take care of her more." ”

"Uncle, I'm afraid not, although I am in the same school, I am not together. ”

Lao Shao made a lot of money this time, and followed Li Mo's advice to buy a large amount of real estate, just to avoid this wave of small stock market crashes in Xiangjiang, so he donated a lot of money to Warren University, of course, not only Warli, but also some schools in his hometown Mingcheng, including Wanwan, and some other areas in China.

Not only Lao Shao's huge donation, but also Jobs's donation, Warren was full and fed.

The leaders of the school listened to Li Mo's suggestion to further expand the campus on which side of the branch was also just right, which side has not developed rapidly for the time being, and there is a large open space in the north of the branch school.

Therefore, Huali University has made a decision, and from this semester onwards, except for the petrochemical-related departments, the first- and second-year students of other departments will be placed together on the new campus. The old campus serves as a center for senior students and research.

Not only this expansion, but also later, once the various R&D results are achieved, Li Mo will put them into production, according to the contract, Huali University will also get some technology share dividends or profit commissions, then Huali University may become the best chemical university in the country.

Due to Li Mo's promotion, Yu Qingmei had to go to college, but where did she go to school on the other side of Jinshan, and the two sides were separated by dozens of kilometers.

Li Mo didn't say anything about his push, but he also explained it roughly.

Yu Degui and his wife were a little disappointed.

The relationship between the two families and the two generations is good during this period of time, mainly because Li Mo's mother and Yu Qingmei's mother have a good relationship. It wasn't until Yu Qingmei's mother died of cancer that Yu Decai fled to Gan Province, and Yu Degui's family, except for Yu Qingmei's third sister, moved to Dongzhen together, and the relationship between the two families gradually became cold.

Thinking of this, Li Mo suddenly thought that it seemed that Yu Qingmei's mother died of cancer in the past two years.

But he thought of one more thing, in his previous life, the United States Asian lithium fish flooded, some people said, why not get China, and some people said that the Asian lithium fish in the United States is seriously polluted with heavy metals and cannot be eaten.

Hehe......

No matter how serious it is, the water sources in many parts of China are seriously polluted, and looking at Li Mo's hometown, that ditch does not have the ingredients of 66 or 6 powder and dichlorvos that exceed the standard? Even later, the content of pesticides and chemical fertilizers will not be low, although the sky is very blue and the water is very clear. Seriously, this fish is not polluted?

When there was no running water, they ate more water from the ditch, so many people were born with cancer.

There are only about 30 households in the entire Tangwan Village, and several people have fallen during this time, all of whom are middle-aged and middle-aged.

Until the tap water was connected, there were births, old age, sickness and death, but Li Mo had never heard of anyone who died of cancer.

In fact, it is not that the Asian lithium fish in the United States cannot be sold to China, but there are other reasons, such as the high cost of labor in the United States, the freight cost, and the protection of China's aquaculture industry, and the relatively high tariffs.

This is a freshwater fish that wants to be shipped to China, and it must be killed and frozen, losing its umami taste.

It may be because of the water quality, and there is also a long time without public enemies, the fish is long, and the fish grows bigger, so the meat is coarse and old.

The value of shipping to China has become higher, and it is not tasty, who will buy it. In fact, someone did it, but they all lost money.

After Li Mo reminded him, both families drilled wells, and Yu Qingmei's mother will no longer have cancer in this life.

Therefore, Li Mo said: "Uncle, aunt, don't worry, although Qingmei and I are not studying in the same place, you can come to my house to play on holidays, in addition, I know the principal, I asked him to instruct the teacher on which side of the branch school to take care of Qingmei." Besides, this is a university, and Qingmei is so old, you don't have to worry. ”

"You know the Headmaster?"

"Recognize. ”

Not only does he know Lao Chen, but now Li Mo has known the presidents of dozens of colleges and universities.

"I also took Koizumi and Qingmei to the principal's house to celebrate the New Year. ”

"That's good, that's good. Yu Degui rubbed his hands happily and said.

Li Mo looked at the sky and said, "Uncle, aunt, tomorrow I will send someone to send you and Qingmei to sign up, and stay at my house for dinner tonight." ”

Meals also include overnight stays.

However, Li Mo's old bungalow has a lot of rooms, it's really not good, everyone is not a rich family, it's a big deal that the two of them squeeze into a bed, although there are many people, they are also squeezed down.

After eating, Li Mo went upstairs to read.

Yu Qingmei's sister and brother came upstairs a little timidly, Li Mo asked them to sit down, looked at their expressions again, and then picked up a copy of Lu Xun's anthology from the shelf, turned to the section of "Hometown", and said: "Qingmei, Xiaoquan, take a look......"