"Funding is not an issue, the key is whether BAE Systems is willing to sell its shares. Pen "Fun" Pavilion www.biquge.info"

When Gao Jun said this, the company's financial statements appeared on the big screen.

I don't know if I don't see it, and I'm shocked when I see it.

In the past six months, the company's total assets have approached $2 billion, including the $500 million paid in advance by the Saudi royal family fund for the purchase of D&F's shares.

If dividends are distributed according to shares, Wang Dong and they are all billionaires.

"FN has a market size of up to $2 billion, BAE Systems holds 15 percent of the shares, and even if it is acquired at three times the market price, it will not exceed $900 million, and we have more than $1 billion in liquidity. Besides, we can raise money through the Saudi royal family's fund, which is controlled by Prince Waleed. As long as BAE Systems is willing to sell FN's shares, we can buy it, and the funds are completely fine. ”

"All these funds are all right?"

Obviously, Wang Dong's "problem" means something else.

"The money in the company's accounts is clean, and there is never a tax arrears, even professional accountants can't find the slightest flaw."

Wang Dong nodded, expressing his belief in Gao Jun.

In fact, Gao Jun has already obtained the accountant qualification certificate, but he has not gone to the accounting office, and is now the company's CFO, that is, the financial director.

"So, as long as we get BAE Systems, we can sell their stake in FN?" Luo Qing paused slightly, and then said, "The problem is that there are only fifteen percent of the shares, and even if you buy it, you are only a shareholder of FN Company." ”

"A major shareholder with M&A qualifications."

When Gao Jun said this, even Wang Dong frowned, because the question raised by Luo Qing did exist.

"FN started by producing Mauser rifles for the Belgian army, grew through cooperation with Browning, and reached its peak in the early eighties of the last century, marked by the victory of the US military's SAW selection, which turned out to be the M249 light machine gun. Unfortunately, a few years later, the Cold War ended, and the previous rapid expansion ran out of money, and in 1990 it was acquired by the French GIAT group. Seven years later, the Belgian government of Valen bought back all the shares of FN, but the huge losses in the P90 and FN57, as well as the defeat of the SCAR series rifles in the US military selection, once again led to the rupture of FN's financial chain. At the beginning of this century, the Wallen district government sold FN to several arms companies, including BAE Systems, through dismantling. ”

"Focus." Wang Dong reminded Gao Jun.

"At the beginning, the Valen district government bought back FN for two main purposes, one is to protect national enterprises, and the other is to create jobs. Therefore, when dismantling and selling FN's shares, the Wallen district government made clear requirements that only major shareholders with more than 10% of the shares be eligible to achieve the overall acquisition of FN through financing means. ”

"What do you mean?" Luo Qing asked.

"To put it simply, only the majority shareholder is eligible to acquire the shares held by the other shareholders and must remain at the company's headquarters in Belgium."

"How many major shareholders are there now?"

"Four." Gao Jun paused for a moment, and then said, "The government of Valen holds 34 percent of the shares, the German group holding company holds 24 percent, the French GIAT group holds 18 percent, and BAE Systems holds 15 percent. ”

"In this way, even if we get the shares held by other shareholders, we will not become a major shareholder."

Gao Jun nodded, indicating that this was what he meant.

Wang Dong let out a long breath and said: "Obviously, BAE Systems is the only breakthrough, and don't forget, the UK will completely leave the EU in a few years." ”

"The point is, are the other major shareholders willing to sell their holdings?" Serena asked.

"From a business point of view, there is no better option for the other major shareholders."

"Why?"

"FN has been losing money for more than a decade, reaching $340 million last year and expecting more than $500 million this year. If you can't get a big order from a local tyrant like Saudi Arabia, next year or the year after, FN will be liquidated by the bank because of insolvency. In the near future, the only thing that can save FN is the large order of the Saudi Army, and at present, it seems that FN has no hope at all. ”

"Will those major shareholders inject capital into FN Company?"

"It's possible, but it's almost zero."

Wang Dong frowned, and asked Gao Jun to speak clearly.

"Last year, after the defeat of Saudi Arabia, the government of Waren held a general meeting of shareholders and proposed to inject capital into FN in proportion to its shares. In order to gain the support of other major shareholders, the government of Valen offered a number of preferential conditions, including a reduction in business tax, and promised to buy back FN at the share price after the capital injection was exhausted if the company's operation still did not improve. ”

"And then?"

"No then."

Wang Dong was slightly stunned, and did not react for a moment.

Not only BAE Systems, but also the German Group Holding and the French GIAT Group are reluctant to inject capital, and the German Group Holding Company has also proposed a merger and acquisition plan, willing to buy the shares held by the Wallen district government at three times the market price. If it weren't for the resolute opposition of BAE Systems and GIAT Group, I am afraid that FN would have been subsumed under the name of the German group holding company and become a brother company of H&K. ”

At this time, Wang Dong was even more puzzled.

There is nothing surprising that BAE Systems is reluctant to inject capital, after all, FN is an arms company under the name of the European Union on the European continent, and BAE Systems is a British arms company, and after Brexit, there is naturally no reason to support EU arms companies.

It is also reasonable that the German group holding company refused to inject capital and tried to annex FN company, that is, after taking FN company, plus H&K company, German group holding company will become the absolute hegemon of the EU in the field of firearms, and even the world's number one firearms company.

The question is, why did the GIAT Group refuse to inject capital?

The GIAT Group prevented the German Group Holding from acquiring the shares held by the Wallen District Government, apparently because it did not want the German Group Holding Company to dominate the firearms industry.

Although there are several firearms manufacturers under the GIAT group, such as the Saint-Etienne Arsenal, which produces FAMAS, they are far inferior to H&K and FN in terms of strength, reputation and market share.

At the beginning, the GIAT Group invested in FN Company to retain a place in the field of firearms.

From this point of view, the GIAT Group should support the proposal of the government of Valen to inject capital.

Unless, too, there is a problem with the funding of the GIAT Group.

"According to you, FN is bound to go bankrupt?"

Gao Jun nodded and said, "Next year at the earliest, the year after the latest at the latest, so we have to get the shares held by BAE Systems as soon as possible." ”