Chapter 84, Acquisition
Since the Austro-Hungarian Bank was sold in tears, how could Ferdinand not take advantage of the fire to rob it after planning for so long?
At Ferdinand's behest, Ferrantz proposed to the Austro-Hungarian Bank the idea of acquiring the Bulgarian branch.
Not surprisingly, Wix only hesitated for a few minutes before deciding - sell. It's time like this, it's important to save yourself first, as for whether it will reduce the influence of Austria-Hungary in Bulgaria and not offend the Austro-Hungarian government, I don't care so much now.
The current situation has exceeded Ferdinand's most optimistic estimates, and it is completely good, and many of the industries in Austria-Hungary that he coveted can now be used.
In this economic crisis, the bankers have eaten a lot and choked. Of course, it is not obvious now, in the economic crisis, many assets have depreciated, and once normalcy returns, the situation will change.
Now that the financial crisis has erupted, and the Austro-Hungarian Bank has begun to sell off in tears, other banks are not much better.
At the time of life and death, who cares whether it is a loss or whether it is a loss, or whether it is important to get rid of it as soon as possible. First raise funds, get out of the financial crisis, keep the core industry - banks, and then talk about future development.
Everyone knows that the more times like this, the more you can't sell it at a good price, but there is no way to wait for the long queue in front of the bank, waiting for the rice to be cooked!
The cautious and cautious Ferdinand knew that "the gun shot the first bird", in order to become the target of the public, his vests were dispatched one after another, no matter how much, buy the high-quality assets first, and in the future, whether it was his own operation or sale, he could make a lot of money.
Now the Austro-Hungarian Bank was in dire need of cash, and after submitting it to Vickers for approval, Ferrantz's negotiations went smoothly and were finalized in less than three days.
Although there is a big difference in the valuation of the Bulgarian branch of the Austro-Hungarian Bank, the valuation of the Austro-Hungarian Bank itself is 150 million leva, and the valuation of Ferrantz is only 50 million leva. The same offer is only 50 million, and the counteroffer is refused.
This condition is already excessive, but now the Austro-Hungarian Bank cannot afford to delay, because there is also a long queue for withdrawals outside the Bulgarian branch, and the bank's inventory funds can only support two days at most.
Ferdinand can't be blamed for being mean, he would be a fool if he didn't use means in this era. If it weren't for the fear of forcing the Austro-Hungarian Bank and the other party directly transferred the branch to other powers, Ferdinand's 50 million would not have been released, and the other party would have gone bankrupt in the run.
After a day of fruitless talks, the head of the Bulgarian branch of the Austro-Hungarian Bank reported the situation directly to Vickers.
It was not only Ferdinand who took advantage of the fire to rob, the assets of the Austro-Hungarian Bank in many places were underestimated, no matter how good the relationship between everyone was usually, they could be slaughtered at this time, and they did not show mercy to his subordinates.
In the past few days, Wix has not known how many things have been smashed, and his office has been changed several times.
Gritting his teeth fiercely, he greeted Ferdinand's family and even his ancestors in his heart, and finally decided to sell it reluctantly.
It's not that Vickers can't find a buyer, both German and British banks are interested in the asset.
However, the Bulgarian branch of the Austro-Hungarian Bank could not hold on, and in order to ensure that the acquisition could be carried out smoothly, the Bulgarian branches of several other foreign banks were also caught in large or small runs, and no one dared to act rashly.
There is no doubt that who else dares to do things so unscrupulously in Bulgaria but Ferdinand?
Once the Austro-Hungarian Bank in Bulgaria is run on and bankrupt, do not doubt that the Bulgarian government will definitely let it go into bankruptcy and liquidation, and the Austro-Hungarian Bank will probably lose all its money.
Before, Vickers could have used the pressure of Austria-Hungary to make Bulgaria dare not act rashly, but after the alliance between Russia and Bulgaria, all this changed. Bad relations between Austria-Hungary and Russia, do you need to talk about it?
This is also now, the international situation is like this, Ferdinand paid for it in a regular manner, if it is left behind twenty years, the two groups are already opposed, he can swallow it directly.
Next, it is easy to say that the Austro-Hungarian Bank in Bulgaria is very clear. As soon as the contract was signed, Ferdinand made a quick payment and immediately sent someone to take over the assets of the Austro-Hungarian Bank in Bulgaria.
In fact, in order to complete the acquisition, Ferdinand began to raise funds long before the economic crisis. Fifty million leva and twenty million pounds sterling, which was a lot of money at the time.
Even if Ferdinand has been working hard to make money after crossing over, he can only make up half of it without affecting other industries.
Of course, if there is no money, it is a loan, Ferdinand has collateral, and the ability to repay is also obvious to all, a proper and high-quality customer.
Then Ferdinand began to lend, loan, and loan, and borrowed more than 20 million pounds from major European banks. Obviously, Ferdinand was planning to play a big game, including the Austro-Hungarian Bank, and I don't know if Vickers will be angry when he learns the news.
For this reason, Ferdinand now has to repay more than £1.2 million in interest every year. However, the business was still very profitable, and the transfer of the creditor's rights from the Austro-Hungarian Bank to the Bulgarian government alone was enough to recover the cost.
Previously, the Bulgarian government owed the Austro-Hungarian Bank a total of more than 58 million leva loans.
The interest to be paid annually is more than 4 million leva, or about more than 1.8 million pounds.
In a single move, Ferdinand earned nearly 600,000 pounds a year. Not to mention the other assets of the Austro-Hungarian Bank in Bulgaria, which add up to an absolutely astronomical amount.
In fact, the valuation of 1.5 billion leva proposed by the Austro-Hungarian Bank is not unfounded, in addition to government loans, it also holds more than half of the country's minerals, although Bulgaria's mineral resources are poor, but the sum is not a small number.
Looking at the list of statistics, Ferdinand sighed: "Sure enough, I still take advantage of the fire to rob and make a fortune quickly!" The Austro-Hungarian Bank is also really powerful, such a large loan was swallowed by their family, and they deserve to be unlucky, overseas investment is so large, it is a matter of time before problems arise! ”
If Vickers had known what Ferdinand was thinking, he would have cried out. The Austro-Hungarian Bank has been running very well, if it weren't for your bastard's targeting, it would have been blood mold!
After the completion of this huge acquisition, the triumphant Ferdinand made another decision to establish the Royal Bank of Bulgaria.
The newly acquired Austro-Hungarian Bulgarian branch was incorporated into it, and the old and strong Karl butler became the first president.
Well, Ferdinand's habit of wearing waistcoats broke out again, and the bank that Ferrantz had previously commissioned to set up became the vest industry again, and was named: Bulgarian Construction Bank.