Chapter 219: Shocking Reversal
"Mr. Piëch, we meet again!"
Wolfgang. Porsche mechanically vs. Ferdinand. Piëch stretched out his hand and said with a blank face.
"Cousin, can't you call me cousin?"
For Wolfgang. Porsche's performance, Ferdinand. Piëch didn't think it was wrong, but quipped, "I didn't think it was today, my good cousin!" ”
"Don't deceive people too much!"
Wolfgang. Porsche's face turned red instantly, and he said viciously, "Today I am representing the Porsche Group to discuss cooperation with the Volkswagen Group, and there are no cousins here." If you continue to pester, don't blame me for turning my face and not recognizing people. ”
"Alright, you two, let's get down to business!"
Seeing that the two of them were about to turn their faces if they disagreed, Zhong Shi hurriedly mediated, "Gentlemen, the topic of our discussion this time is the cooperation between the Volkswagen Group and the Porsche Group. Don't talk about other unnecessary things, do you know what I mean? ”
Ferdinand. Piëch was in a good mood and nodded with a smile. Wolfgang. Porsche snorted coldly and turned his head away disdainfully.
Both of them were unwilling and did not dare to offend Zhong Shi at this time, so they could only do what Zhong Shi said. It's just that one is full of joy, and the other is unwilling.
This is the meeting room of the Porsche Group, and after the last hope was dashed, the Porsche Group soon received a takeover offer from the Volkswagen Group, because it had known the outcome for a long time, so the Porsche Group did not continue to delay, and quickly responded.
So the two sides have today's meeting.
Zhongshi appeared as a foreign aid to the Volkswagen group, that is, their financier. This three-party acquisition requires a specific structure to be reached at the top, and the specific implementation process is then carefully discussed by the financial advisor. So far, apart from these bigwigs, there is not a single person from a financial advisor.
On the Volkswagen Group's side came Ferdinand. Piesi and Stegen. On the Porsche side, it's Wolfgang. Porsche and Wei Dekin, while as a third party are Zhongshi and Gao Dongfang.
When the six of them entered the office, the door was slammed shut.
"This is Mr. Gao Dongfang, from China. This time as my assistant and partner! ”
Before the start of the talks, Zhong Shi unceremoniously sat on the main seat, and casually introduced Gao Dongfang to the people in Porsche, and then knocked on the table seemingly casually, signaling both sides: "Gentlemen, let's start here?" ”
Although he said it as if he was asking for other people's opinions, there was an irrefutable aura in his tone. Wolfgang. Porsche and Ferdinand. Piëch's expression changed, and slowly returned to his normal color.
Coincidentally, neither of them spoke.
"The situation now is. The Porsche Group holds a part of the shares of the Volkswagen Group, but it is not able to continue to acquire the shares of the Volkswagen Group in the future. The Volkswagen Group is currently interested in counter-acquiring the shares of the Porsche Group, and the two sides have no objection to this, right? ”
Seeing that the two of them didn't say anything, Zhong Shi nodded secretly, very satisfied with their attitude, "Actually, according to me, this is a win-win deal. We, as a third party, will fully fund this transaction. Right now. Let's talk about how to work together and what form it takes. ”
"No matter what. None of us will give up our controlling stake in the Porsche Group! ”
As soon as Zhong Shi's voice fell, Wolfgang. Porsche jumped out, "30% equity is our bottom line, and another point is that we do not accept the direct leadership of the Volkswagen Group, and it is better to hold this part of the equity by another holding company." ”
Even if it's cornered. Wolfgang. Porsche also wanted to retain the last dignity, i.e. did not want to be directly killed by Ferdinand. Piëch leads. Even if there is an additional holding company in the middle, there is no difference from the absence of this link, but he still insists on doing it.
"We're either not going to buy it, or we're going to eat it all!"
Ferdinand. Piëch naturally refused. Now with foreign aid, their goal is to swallow up the Porsche Group entirely. For this reason, he had already greeted Zhong Shi and the others.
"It's absolutely impossible!"
Wolfgang. Porsche's face suddenly changed greatly, and he shouted sharply, "Can you eat so much equity?" Even if I could, I would never agree to it! ”
"Even if we can't eat it now, we will have at least 49.9% of the equity this time, which is not negotiable. By the way, after this equity ratio is agreed, we will discuss the price. ”
Ferdinand. Piëch is not dwelling on this issue, he is the winner at the moment, there is no need to dwell on these details, "but we need to sell some of the shares." I'm talking about the options of the Volkswagen Group, and according to the shares we have acquired in Porsche, we need the Porsche Group to give a part of the shares to the third party to exercise. ”
"Weaken the options we have on hand?"
Wolfgang. Porsche and Wei Dejin glanced at each other, and a vigilance suddenly arose in the hearts of both parties, which was to silently reduce the threat of the Porsche Group to the Volkswagen Group, and immediately flatly refused, "No, why do you sell the equity and ask us to exercise the options on hand, you can completely sell the equity on your own." ”
"Why don't we let ourselves have the equity on hand, this question is still to be asked to you, Mr. Chairman of the Porsche Group!" Ferdinand. Piëch's face instantly turned cold, and he smiled sadly, "Now that more than 50.1% of the equity is in your hands, plus the part of the equity held by the government, what equity do you think we can transfer?" ”
"On this point, it is our principle, and we will not back down!" He finally added.
Similarly, Wolfgang. Porsche's attitude is also tough: "No, that's our principle." ”
"This ......"
The negotiations quickly reached an impasse, and Zhong Shi looked at the two sides who were not giving in to each other, and suddenly felt a headache. Although he had long expected that the negotiations between the two sides would not go so smoothly, the almost vindictive behavior of the two still made him feel helpless.
"I think the reason why the two of them are worried about this part of the equity is nothing more than the fear that the institutions that control this part of the equity will fall into it!"
At this time, Gao Dongfang opened his mouth lightly, and instantly attracted everyone's attention. "If we go to Porsche in the process of ownership, then it is still possible for the Porsche Group to acquire the Volkswagen Group. And if we were to turn to the Volkswagen Group, the Porsche Group's plan to buy the Volkswagen Group would never be possible, and the Porsche Group would still be in danger of losing its independence, right? ”
Both nodded in unison.
"In that case. It's easy to do! ”
"If both parties have such considerations, then we can add a clause to the cooperation plan to maintain neutrality for the institutions that acquire this part of the equity." We restrain our hands and don't help each other, so you should be at ease, right? ”
"Of course, this part of the equity we hold will not be transferred to any party until you have absolute control over one party. But if in the future, the Volkswagen Group acquires more shares in the Porsche Group. Or if the Porsche Group can convince the Lower Saxony government that we can consider selling the shares we have. Leave us a certain amount of possibility and time to cash out, so it's always acceptable, right? ”
Naturally, neither China Investment nor Tianyu Fund will be able to hold this part of the equity forever. On the one hand, there is time for investment, and on the other hand, there is pressure from the Volkswagen Group and even Germany. So one way or another, sooner or later, they will have to sell this part of the equity, but when. Gao Dongfang skillfully threw the question to the opposing sides.
Hearing Gao Dongfang's compromise method, the two sides pondered for a moment. I felt that I could accept it, and immediately nodded in unison.
"If the remaining 24% of the options are exercised, it is equivalent to an increase of about 24% in the current Porsche Group's stake in the Volkswagen Group. But it should be understood that this part of the equity is neutral, with 12% of the shares in the name of the Volkswagen Group and 12% in the name of the Porsche Group. But the actual control and voting power are in our hands. ”
Gao Dongfang continued, "If that's the case, we shouldn't have more differences, right? ”
"No problem!"
Coincidentally, the two said in unison. But the next moment, the two realized that they had done the same thing as someone else. I rolled my eyes again.
"So leave the rest to the rest of the story?"
Zhong Shi clapped his hands, stood up with a relaxed face, and suggested, "If nothing else, then we'll leave?" ”
"No, I still stick to our previous opinion and buy the Porsche Group in its entirety, otherwise it will not be acquired at all!"
At this moment, the mutation was abrupt, and Ferdinand. Piëch suddenly changed his attitude and insisted, "Yes, it is 100% equity, otherwise this deal will fall through!" ”
"No, you can't!" Wolfgang. Like an enraged lion, Porsche became furious, "If you want to swallow all the Porsche shares, then step over my corpse!" ”
"If they also talk about it, then we have to go to the rails!"
Watching Wolfgang. When the Porsche was about to get out of control, Wei Dejin quickly grabbed him and whispered in his ear, "Boss, this is really our last chance." If you insist on going your own way at this time, it will not only be the Volkswagen Group that will be offended, but also Zhongshi. ”
Wolfgang. Porsche suddenly woke up and hurriedly looked towards Zhong Shi, only to see Zhong Shi's frowning brows and his face blue and cold, obviously quite dissatisfied.
If Zhongshi is angered and pushed to the other side, then the other party will fully support the Volkswagen Group's acquisition of Porsche's shares. No matter how reluctant Porsche is, I am afraid that it will not be able to hold on in the end.
"I'm afraid I can't hold it this time!"
Wei Dejin continued to persuade, "But didn't Zhong Shi tell us before that they could only keep the equity on hand for a certain period of time? Why don't we take the opportunity to optify the remaining equity and gamble on whether they have cash when they see it? ”
"So?" Wolfgang. Porsche also regained his composure and asked in a low voice, "Is it feasible?" ”
"Take a gamble!" Wei Dejin's face suddenly showed a fierce expression, "So far, we really have no choice, this is the last resort." ”
"Have you discussed it?"
Seeing that the two had been discussing in a whisper for a long time, Zhong Shi was already a little impatient in his heart, and immediately said, "I have one more thing to announce. ”
"We agreed to transfer it in its entirety, but the way of the transfer is still negotiable!"
Wei Dejin suddenly put on a flattering smile and said, "I'm afraid I can't finish talking today." It's okay, we have time to continue talking, by the way, Mr. Zhong, what are you going to say? ”
"The funds we use to exercise the rights will come from a Middle Eastern company, and the two of them will know the real investors at that time, and the announcement will say so."
Bell Stone looked deeply at Wolfgang. Porsche and Wei Dejin glanced at each other, "Remember, it is very important that it is not ChinaAMC's funds or Tianyu Fund that are involved in this transaction!" (To be continued......)
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