Chapter 210: The Front
"What do they say?"
After initial contact with a consortium of banks, Wolfgang . In his huge office, Porsche quietly waited for Weidekin's report.
Porsche's claim to the outside world is that Wolfgang. Porsche is not currently in Stuttgart, because the head of the company is unwilling to face the debt collectors, so Wei Dejin, the second man in the Porsche Group, has to come forward himself.
"They don't agree to an extension!"
Weidkin shook his head slightly, and sat down in Wolfgang with a tired body. "So far, no bank has explicitly asked to terminate the loan, but you know that the situation is very complicated, and as soon as one does, the other banks will immediately follow suit." β
Previously, the Porsche Group had jointly borrowed 12 billion euros through dozens of banks, most of which was used to acquire shares in the Volkswagen Group. Unexpectedly, because the world fell into an economic crisis, the sales of Porsche sports cars fell sharply, profits fell sharply in the fourth quarter, and there was no momentum of recovery in the short term.
"And what about their real intentions?"
Wolfgang. Porsche's eyes widened and he said angrily, "Are they trying to force me to go back to Adolf by forcing me to go back to Adolf? Merkler's old way? These snobbish guys, when the situation was good, they all broke their heads and sent them to the door, and now they are more ruthless than the other. β
"That's the nature of banks, and there's nothing we can do about it!"
After listening to Wolfgang. Porsche's complaints, Wei Dejin was silent for a long time, and finally said leisurely, "I listen to their meaning, probably through another loan contract." in exchange for this loan contract. To put it simply, they are offering us a rollover in disguise, but the interest rate may have to be raised. β
"It's better to rob while it's hot!"
Knowing that the other party is not pushing themselves to their death, Wolfgang. Porsche's mood was undoubtedly much better, but he was still angry, "These vampires. It's so ......."
He couldn't find the right words to describe the bank's behavior for a while, and he stammered for a long time, but the following words were indescribable.
"That's the way it is now, we still have enough time!"
"At least so far, we have not been pressured by persecution, but in the long run, if our operating conditions cannot be improved, we will still be held hostage and oppressed by them." β
"That's right. The conditions under which they provide loans are the same as before. We will also continue with our plan to acquire the Volkswagen Group, i.e. the loan will only be used for the acquisition of shares in the Volkswagen Group, otherwise they will terminate the disbursement of this part of the loan at any time. β
Halfway through speaking, Wei Dejin suddenly remembered something, and hurriedly added, "This requirement must not be changed, I think their wishful thinking is." Even if we are unable to complete the full acquisition, the loan will be repaid to them in the form of an equity stake in the Volkswagen Group. When the time comes, because the acquisition fails. They will be able to get much more shares than they do now, because then the Volkswagen Group's share price will definitely fall sharply. β
So far, the Porsche Group has managed to acquire a 50.7 percent stake by exercising a portion of the options. But it also stopped here, and the Porsche Group could not go any further.
"Exercising? Damn it! β
As soon as I think of options, Wolfgang. Porsche couldn't help but think of Bell Stone again. The kid from the East, "If it weren't for him sweeping up so much cash, we wouldn't be in such a difficult situation now." β
"Him?"
Wei Dejin's face showed a complicated look, both grateful and jealous, "This guy is a genius. Even if we are in a predicament right now, we can't blame anyone else. By the way, boss, has he been in touch lately? If this guy is willing to do it, our problem will be solved. β
"This kid is having a good time in Saudi Arabia now!"
Wolfgang. Porsche replied hatefully, adding a moment later, "But he has promised that he will come to Germany after the trip to Saudi Arabia." Hopefully we'll be able to convince this guy then, but given his shrewdness, we'll probably pay a lot of money. β
"It's not a lot, it's not a lot, as long as he can make a move, the problems we encounter now won't be a problem!"
Wei Dejin let out a long sigh and said helplessly, "So far, all we can do is keep looking for the gold owner. So far, only a financier like Zhong Shi has been able to come up with such a large sum of money in a short period of time. β
"By the way, the Volkswagen Group still has about 12 billion euros in reserves, can we?"
The two sat for a long time, both racking their brains to figure out how to solve the current situation. Porsche suddenly had a flash of inspiration, remembered the financial situation of the Volkswagen Group, and blurted out.
"This ......"
Weidkin looked at the excited Wolfgang. Porsche, shook his head helplessly, "Ferdinand. PiΓ«ch would not have agreed to do so. In addition to convincing their unions, we also have to convince our unions. As you know, the Volkswagen Group has already sent quite a few people to join our union. β
In order to cope with the acquisition of the Porsche Group, from the moment the Porsche Group announced the public acquisition, the Volkswagen Group was actively planning to make various difficulties for the Porsche Group, including sending its own people to the other party's trade union.
According to German law, the internal trade unions of companies holding mutual shares must be represented by each other, and the Volkswagen Group acts according to this rule. Unlike the Porsche Group trade unions, the trade union representatives from the Volkswagen Group are quite united and conservative, and generally do not agree with the opinions of the Porsche Group management.
"It's basically impossible for us to pass over there, and the problem on our side won't be huge, but it's also a little troublesome!"
After thinking about it for a while, Wei Dejin finally gave up, "Because the boss once claimed that the Volkswagen Group would be reorganized and reformed, it is impossible for us to get the support of their union. There is no doubt about that. β
"It's a shame. If you can get an absolute controlling stake, then it doesn't matter what Ferdinand. PiΓ«ch, or the government of Lower Saxony, get out of the way! β
Wolfgang. Porsche was about to get angry again, but the next moment a terrible thought suddenly jumped into his mind, so that the foul mouth that had been reached was swallowed back hard. "So what are they setting aside so much money for?"
"What are your concerns?"
Weidkin looked at Wolfgang, whose face had changed suddenly. Porsche, after a little contemplation, understood the other party's concerns, "You mean, the Volkswagen Group is planning a counter-takeover of us?" It's absolutely impossible! β
As with other listed companies in Germany, the Volkswagen Group has an absolute controlling stake in the Porsche Group as long as it holds 50.1 percent of the shares in the market. The only exception to this in Germany is the Volkswagen Group. But that's exactly what the Porsche Group wants to target.
"Why?"
Hearing his most capable subordinate so categorically deny, Wolfgang. Porsche's face looked a lot better, but he still asked uneasily, "At this time, why can't they launch an acquisition of us?" β
"Because the vast majority of the equity is in the hands of your family!"
Wei Dejin was speechless, his chairman didn't even understand such a simple truth, obviously he was too flustered, "Only we are not doing well." It is possible to give outsiders the opportunity to acquire. But so far, we have only been hit by the world economy. This acquisition has put us on the back foot, and if we remove this acquisition, we will be able to operate very well, and there is no need to agree to the acquisition request of others. β
"Just in case, I think it is necessary to accept the conditions of the bank consortium, if you are not at ease. Even if we pay the price of high interest. As long as the final acquisition is successful, we will be able to leverage the funds from the Volkswagen Group in a big way. β
Along Wolfgang. Porsche's train of thought, Wei Dejin suddenly thought of another way, "Yes, that's it." As long as we can complete the acquisition smoothly, the problems we have encountered will really be solved. β
"Bell bell bell ......"
At this moment, Wolfgang. The phone on Porsche's desk suddenly rang, interrupting the conversation between the two. Porsche glanced at the phone in displeasure, thought for a moment, and then picked it up.
"What, you're already there?"
Wolfgang who picked up the phone. Porsche only listened to two sentences, and his face showed ecstasy, "How can it be so fast?" What, you're in a little trouble in Saudi Arabia? β
"No problem, we'll send someone to meet you right away!"
Just a couple of short pleasantries, Wolfgang. Porsche hung up the phone categorically, picked up his trench coat and walked out, Wei Dejin was confused, and also got up and followed him, asking as he walked, "Boss, what happened?" β
"Zhongshi, they're here!"
Wolfgang. Porsche gestured to the secretary outside the door, and did not stop at all, "In addition to him, there is another distinguished guest." By the way, it's the people from the China Sovereign Wealth Fund, but it seems that they had an accident in Saudi Arabia, so they came to Germany early. β
"Boss, we shouldn't be going to greet us now!"
Weidkin hurriedly grabbed Wolfgang. Porsche, solemnly, said, "We don't need them now, have you forgotten?" β
"Don't need them?" Wolfgang. Porsche didn't understand what was going on, and was stunned.
"Yes, we don't need them now, not at all!"
"As I said earlier, we only need to communicate with the bank consortium now, borrow funds at an appropriate interest rate, and as long as we can obtain a controlling stake, the funds within the Volkswagen Group will be our final solution." Through the matter of options, I believe that we should recognize the true face of Zhongshi, this is definitely a calculating guy and will not suffer any losses. β
"If we don't use the bank, but this guy, he's definitely more greedy than the bank, and don't forget, he's a hedge fund, the greediest bunch of people in the world." "If we do turn to them," he vowed to say, "in the end they would want not only a stake in the Volkswagen Group, but also a stake in Porsche." Believe me, these people will definitely be much scarier than the banks, we were able to beat them last time, it was an absolute fluke! β
ββ¦β¦β
Wolfgang. Porsche's face was cloudy, his eyes flickered, and it was clear that Weidekin's words had played a role. As soon as he remembered the last time Zhong Shi used the trick, even if it had been a long time, a layer of fine cold sweat still oozed from his back. Completely tricked the whole market, what a terrible scheming and means this is!
"Then we're not going to meet him?"
After a while, he asked tentatively.
"Yes, not only are we not going, but we are not even sending our drivers!"
Weidkin nodded heavily. (To be continued......)
PS: Thank you book friends for drawing knives and cutting off oil to vote for a monthly pass! This month's situation is simply too bleak.,It seems that your own efforts are far from enough.,The author continues to work hard.,I hope you will support more.,Thank you very much~!