Wednesday, May 4th.

On the same day, Yice announced the purchase of Hongkong Land shares held by New World, Cheung Kong, Henderson and CEFC at a price of HK$8.95 per share, accounting for 8.2% of Hongkong Land's total issued shares, involving 1.834 billion yuan.

The sudden extinguishing of the Hongkong Land acquisition war has greatly disappointed market participants. The 8.2% stake was added, increasing all of Hongkong Land's shares by 34% from 26%, which did not trigger a full takeover and significantly strengthened its holding capacity.

Curiously, there is a condition attached to the agreement that the Chinese-funded consortium involved in the acquisition will not be allowed to get their hands on Hongkong Land's equity for seven years. Why did the Chinese-funded consortium withdraw from the acquisition so quickly and sign this 'shameful' agreement?

For a while, there were different opinions, and the Chinese-funded elders were tight-lipped.

......

Back to the side of New Era Group, the company absorbed a large number of Baohua Construction shares through secret purchases in the market, increasing its holdings to 43%; Of course, even if it is a secret purchase, its price is higher than 8.3 yuan, around 8.3 yuan ~ 8.8 yuan.

In the conference room, Lin Zuhui's mood had already calmed down and he was arranging the next layout.

"New Era Group announced this evening: at a price of 8.8 yuan per share, the full acquisition of Baohua Construction."

The price of 8.8 yuan is equivalent to a little more than twice that before the acquisition war, and the New Era Group is equivalent to a loss of 2~300 million yuan. However, Borrelli Y. Construction is still worth the money; Baohua Construction also has a Baohua Building, which is also worth about 300 million.

Paul Y. Construction can build skyscrapers and hotels, and it is also among the top ten construction companies in Xiangjiang; It is very important to the future territory of the New Era Group, so Lin Zuhui will not care about spending a little more money.

Although Hysan Land is shaved its head, it is really just trying to master a construction company and improve its reputation.

Liang Botao nodded and said, "Well, basically on Friday, you can announce that you will take the lead in obtaining 51% of the equity and declare it successful!" ”

For the New Era Group, it has opened a 'sky-high price' of 8.8 yuan, as long as the first share reaches 51%, it is a successful acquisition. Even if the remaining 49% of the shareholders do not sell, it is a successful acquisition, which is beneficial to the New Era Group, that is, it does not need to pay more money to master Borrelli Construction.

Lin Zuhui said again: "Now that you have the chance to win, you don't need to put too much energy on it!" We have to prepare immediately: Chinese Estates and Cathay Pacific City will issue 10% new shares and sell them to New Era Group. ”

Liang Zhenxun immediately said: "We are already applying to the Stock Exchange, and it is expected that the official announcement will be made next week!" ”

Lin Zuhui said regretfully: "After this round of stock market crash, I originally planned to privatize Cathay Pacific City, but at present, we can only choose to give up. ”

Everyone nodded, indeed!

After the stock market crash of the New Era Group, it spent a full 4 billion yuan on the purchase of land and old buildings (including the property on the Lantian subway station), and now it has spent a lot of money on Baohua Construction, Enping Road and upstairs (in cooperation with Chinese Real Estate), and the purchase of new shares of subsidiaries, and it is estimated that the debt will return to 4.5 billion yuan (more than 300 million yuan has been repaid during the period).

"But it doesn't matter, increasing the shareholding of the two subsidiaries to more than 45% is also considered to have achieved my minimum goal!" Lin Zuhui comforted himself again.

In this way, New Era Group has one plan left unfinished in this round, and that is to privatize Furama Hotel. This plan is not a problem in any way, Cathay Pacific City owns 51% of its shares, and no one can participate in the bidding.

For the remaining 49% of the shares, Lin Zuhui intends to privatize in the name of the family, which is expected to involve 700 million yuan (a premium of 30%).

.......

Hysan Land.

In the conference room, Lee Hysan's third-generation successor, Lee Tingchang, sat in the position of chairman of the board of directors and seemed to be in a very good mood.

The son of Hysan's fifth son, Wing Kit, he worked as a solicitor of the Supreme Court of England and Wales after graduating with a bachelor's degree in civil engineering from the University of Manchester. It was only then that he officially joined the family business and took over as Chairman of the Board of Hysan Land this year, bringing Hysan Land back to the leadership of the Ritchie family.

In 1981, after the death of its second-generation successor, Hysan Land recruited managing directors around the world. In other words, during these seven years, Hysan Land has actually adopted a professional manager model.

Therefore, after Lee Ting Cheong returned to the helm of Hysan Land, he was eager to change the company's always 'conservative' impression, so he joined the acquisition of Borrelli Construction.

Sure enough, he received the expected good results, and Hysan Land not only occupied public opinion and morality in this acquisition war, but also hoped to win Paul Y. Construction.

Paul Y. Construction is a good company, and if it is acquired, Hysan Land will be like a tiger with wings.

"How many shares have we acquired?" Li Dingchang asked.

"Chairman, we have acquired 15% of the shares of Borrelli Y. Construction, plus 15% from its major shareholder, which means that we already have 30% of the shares."

"Well, I believe that we will soon be able to increase our shareholding to more than 45%, and then we will only need to master Borrelli Construction at a very small price!"

In Lee's mind, as long as Hysan Land acquires more than 30% of the shares, plus 15% of the shares of Borrelli Y. Construction's major shareholder, and a small number of shares from other shareholders, it will win in one fell swoop, and there is no need to launch a full acquisition.

The price is not large, much smaller than the price of the hostile takeover of New Era Group!

What he cares more about is that he defeated Lin Zuhui!

That's the 'Lin Superman' who just defeated Li Chaoren twice, doesn't this mean that he defeated Li Chaoren?

.......

In the evening of the same day, Liang Botao, the financial adviser of New Era Group, officially announced that New Era Group, which holds 43% of the shares of Baohua Construction, will be fully acquired at a price of 8.8 yuan per share in accordance with securities regulations.

After Li Dingchang heard the news, he urgently found someone to negotiate.

"How did New Era Group's shareholding rise from 32% to 43%?" Li Dingchang said with a confused face.

It stands to reason that even if there are shareholders who want to sell their shares from Monday to Wednesday, they will go to Hysan Land to register, because their bid is higher than two-thirds of that of New Era Group.

"It was acquired through the grey market, and the minority shareholders of Baohua Construction were basically sold to New Era Group." Said the acquisition consultant.

Li Dingchang's face suddenly became stiff, he didn't think of this move, and no one from Hysan Land thought of this move.

"If it passes through the grey market, the stock price should be more attractive than 8.3 yuan per share!"

"Yes, it's definitely higher than our purchase price!"

After thinking for a long time, Li Dingchang asked again: "Do we still have a chance to fight back?" ”

"It may be too late, and they'll be almost 47 percent more than 47 percent tomorrow," the buyout adviser said. Moreover, the price is too high! ”

The person who proposed to buy Baohua Construction at a price two-thirds higher than that of the new era was Li Dingchang, and the acquisition consultant did not suggest so; But Lee insisted on doing so because he wanted to make Hysan Land unconservative and change the outside world's impression of Hysan Land.

Therefore, at this time, since New Era Group has made a bid, there is basically no time for Hysan Land to bid again, after all, it is almost the weekend.

The price of 8.8 yuan per share is absolutely tempting, which is more than double that before the acquisition war, and others can buy it in one day.

The key point now is that Hysan Land will not be able to make a profit from this acquisition, and their cost is $8.3.

The only takeaway is that Hysan Land has made New Era Group suffer a big loss, and has won some people's appreciation.

"Well, let them win! If we sell the stock to them later, we can make millions of dollars! ”

Make a P, as soon as the acquisition fee comes out, Hysan Land does not make money, the executives thought to themselves.

The only good thing is that there was a wave of good advertising, but Liang Zi also took it.

......

On Friday evening, New Era Group announced that it held a 52% stake in Borrelli Y. Construction, and the acquisition was a victory. At the same time, the redevelopment plan for Enping Road 2 to 38 was also announced.

Why is there no No. 1, because that's the property of the Lee Hysan family!

Public opinion was in an uproar.

New Era Group will not announce a redevelopment plan at this press conference for no reason, and reporters familiar with the terrain quickly guessed that this is the nest of Hysan Land.

In other words, New Era Group is fighting back against Hysan Land.

For a while, the media began to prepare topics for a good tomorrow.

In the evening, Lin Zuhui was still working overtime, listening to the report of the building merging team.

The merger is very smooth, but the price is also very large, No. 2~38 Enping Road, a total of 26 owners all negotiated, but it consumed nearly 300 million cash, with an average premium of 25%.

This is still the impact of the stock market crash, if it is the peak of real estate, this price is not enough.

"Go and talk to the Ritchie family about the acquisition of 1 Enping Road, they have no reason to refuse!"

"Okay!"

Of course, there is no reason to refuse, after all the owners have passed the redevelopment plan, you do not agree to a unit; The important thing is that you are a real estate developer, and if you let your business friends know that you are 'nailing the building', you will be spurned and your reputation will be notorious.

And once Hysan Land is labeled as a 'nailed building', as long as they rebuild the property in the future, those who are from all walks of life will have to hit their 'nailed building'.

......

Following.

The media in Hong Kong have written about the battle between New Era Group and Hysan Land; If you come to stop me from buying it, I'll build it to your doorstep.

"I Have a Catalogue of Ghosts and Gods"

For a time, the citizens of Xiangjiang were too eyeballed.

When Lee Ting-cheong saw the news, he was instantly undecided, because the merger of Enping Road was in the current plan of Hysan Land; Hysan Land is preparing a 31-storey high-end commercial building with a floor area of 620,000 yuan.

"Lin Zuhui, you are so ruthless!"

For a while, Li Dingchang knew that he had lost completely this time.

A high-end commercial building of more than 600,000 square feet is worth at least more than 1 billion yuan, not to mention that this is one of the core plans of Hysan Land.

Borrelli Construction did not succeed in the acquisition, and also lost a high-end commercial building.

He didn't earn face at all this time, but lost face in the business world.

As for No. 1 Enping Road, it had to be sold to others in the end, otherwise the whole of Hong Kong would know that the Lee family was working as a 'nail building', and the impact would be extremely bad, and even the Planning Department would not be able to look at it.

What makes Li Dingchang most suspicious is that there are any high-level executives of Hysan Land who are moles, otherwise why did Lin Zuhui know the core plan of Hysan Land in the first place.

For a while, Li Dingchang's face became unpredictable.

On the same day, at the emergency meeting of Hysan Land, Li Dingchang and a group of directors and senior executives had an unhappy quarrel. Not only did they suspect that Hysan Land had a mole, but also the directors questioned Li Dingchang's failure of this strategy, which caused the company to suffer huge losses.

There is also a director who suggested: "At a price higher than two-thirds, the New Era Group will acquire No. 2-38 Enping Road." ”

Worth 500 million, Hysan Land lost more than 200 million to compensate for the loss of New Era Group.

......

Since mid-May, the new era system has been moving:

First of all, New Era Group undertook 10% of the new shares issued by its two subsidiaries, Chinese Estates and Cathay Pacific City, involving more than 600 million funds, and launched a comprehensive acquisition as usual, at a price of 10% premium from the highest price in the last six months.

Then the Lin family announced that it would participate in the privatization of 49% of the shares of Furama Hotel, involving 680 million yuan.

Everything is going smoothly and there has been no more 'Hysan Land disruption'.

By the end of May, a lot of changes had taken place in the whole system of New Era Group:

1. Lin Zuhui personally holds 49.8% of the shares of New Era Group (the comprehensive acquisition failed);

2. New Era Group holds 55% of the shares of Chinese Real Estate (full acquisition failed), New Era Group holds 60% of Cathay Pacific City shares (full acquisition failed), and New Era Group holds 96% of the shares of Baohua Construction (full acquisition successful).

3. Chinese Estates holds 98% of the shares of Legu Real Estate (successfully privatized), Chinese Estates holds 34% of Futura International (a company that invests in U.S. real estate), and Chinese Estates holds 49% of the shares of Central Entertainment (ready to be sold as a shell company).

4. Grand Hotel with 34.8% of the shares held by Cathay City, 51% of the shares of Furama Wines (the other 49% held by the Lin family), and 100% of the Hilton Manila Hotel held by Cathay City.

In this round of business activities:

The Lin family used a total of 2 billion in cash (including increasing its stake in Wanhui Media to 49%), leaving only 2.5 billion in cash flow.

The debt of New Era Group has risen to 5 billion, but its strength and potential have been greatly enhanced; The first is the strengthening of the shareholding of the two flagship subsidiaries, the second is the success of internal development (i.e. increased strength in the construction sector) and finally the strong land bank (second only to Sun Hung Kai, Henderson and Cheung Kong).

.......

.......

Friday, May 27.

In the conference room of Heung Kong Enterprise, the heads of Heung Kong Industries, New World and New Era and their senior management are discussing the cooperation between Discovery Bay Phase 4 and Phase 5.

Phase 3 of Discovery Bay is comprised of 143 garden villas, 172 low-rise and 882-high block units with a total gross floor area of 1.1 million sq ft. Since May, it has been built one after another.

The third phase was a great success, with a new round of upward movement in the real estate industry in Hong Kong since the beginning of May. In particular, overseas investors have come to Hong Kong to invest, and there are more than 10 property transactions worth hundreds of millions of dollars reported in a month.

Zha Jimin said: "In this cooperation, Heung Kong Xingye's plan is: first, to sell the development right in cash; Secondly, when the property price reaches more than HK$650 per square foot, we will share 3 and a half percent of the profit. ”

Zheng Yutong and Lin Zuhui both nodded, because there had been high-level negotiations in advance, so there would be no bidding today.

"We New World and New Era are joint companies this time to participate in the construction of the fourth and fifth phases, with New World accounting for 6 percent of the shares and New Era accounting for 4 percent of the shares." Zheng Yutong responded.

Lin added: "The division of labor in the third phase is still adopted: Heung Kong Industrial is the project planning manager, and New Era and New World will pay the construction costs and plan sales. ”

This cooperation, in fact, is more beneficial to the new world and the new era, they can share 65% of the profits, of course, provided that a development right fee is paid first.

Zha Jimin said self-deprecatingly: "Compared with the two of you, we are still students in real estate, and this sale of development rights is also due to our own lack of strength." ”

Lin Zuhui comforted the old man and said: "The territory of Discovery Bay is so big, why don't you worry about the time when Xiangjiang Xingye has no leader, Zha Lao, you say yes?" ”

As soon as the new airport comes out, Heung Kong Industrial will not give up the bulk of its profits to others.

"Haha, teachable, it's me who is stingy!"

Next, Zha Jimin said: "The price of this development right is 254 million, you two have no objection, right?" ”

"Nope!"

"Nope!"

In this cooperation, Heung Kong Xingye has played the role of a 'metro company', and it will charge a fee first.

Of course, the fourth and fifth phases of the project are also very rich, with high-rise and low-rise residential units with a total gross floor area of 1.4 million sf and 1 million sf respectively.

Although everyone set a standard line with a unit price of more than 650 yuan, Lin Zuhui knows that according to the time of the fourth and fifth phases of occupation in 1990, 1992 and 1994, the unit price of at least 1,000 yuan can be sold here, and the average price may be 1,500~2,000 yuan.

Because in recent years, the overall environment of Xiangjiang real estate has increased by 2~4 times, not to mention that there is a new airport here.

Therefore, the total profit generated by the fourth and fifth phases will be more than 3 billion, and the New Era Group is expected to obtain 26% of the total profit, which is also very rich.

On the same day, the three parties successfully completed the signing!

On the way back, Lin Zuhui and Zheng Yutong were on the same road.

Zheng Yutong said: "You have recently cleaned up the Li family, which is a bit ruthless!" ”

Lin Zuhui was puzzled: "Uncle Tong, you made a mistake!" It was I who was bullied by the Li family first, and we spent at least two or three hundred million more on Baohua Construction! ”

Zheng Yutong said with a smile: "I know, but didn't you also earn a property rebuilt in Enping Road!" That's not what I'm talking about, it's you who published in the newspaper that the Ritchie family is a 'nail building', and the price of No. 1 Enping Road is 200 million, and you are roasting the Ritchie family on the volcano! ”

Lin Zuhui said innocently: "The asking price of 200 million is true, we have a recording of the negotiation, but we haven't taken it out." ”

Zheng Yutong was stunned, this Li Dingchang is really unprovoked, and he can't be cultivated, what about a barrister?

It's not that there's anything wrong with the Lee family not selling No. 1 Enping Road, but it's not good if you shout for 200 million (it's actually worth 20 million) and are still caught; After all, you are also a real estate developer, doing this kind of thing of sitting on the ground and starting the price, so what if you need to merge the building in the future?

The important thing is, what do you do when you offend a 'king of the media'?

Don't make it too easy for others to you!

In the end, Zheng Yutong said: "Li Dingchang asked me to ask you for peace, and he is willing to buy the property rights of No. 2-38 Enping Road in your hands at a price two thirds higher, that is, 500 million yuan!" ”

Net 200 million, sounds great!

But Lin Zuhui is not so stupid, rebuilding a building, its value will be billions of yuan in a few years!

"Uncle Tong, it's better for you to go on another trip and let him sell No. 1 Enping Road to us, and we are willing to take it for 30 million! If it succeeds, I will accompany you to hoe the big D twice, and the time is up to you! ”

Zheng Yutong was overjoyed, and immediately said happily: "Three times!" ”

"It's up to you! As if I haven't played with you! ”

"You're embarrassed to say that every time you play for a while, you find someone on top. Impatient, thinking about your little girlfriend! ”

Lin Zuhui suddenly couldn't refute, in the matter of hoeing big D, Lin Zuhui has a high level and good card skills (will remember cards), but he has no patience, mainly because he doesn't want to put a good night on playing cards with the old man.

But Zheng Yutong likes to play cards with Lin Zuhui the most!

In the end, Zheng Yutong advised: "If others at No. 1 Enping Road are willing to let go, you have to let go of the matter of nailing upstairs, and it is best for both parties to hold a signing ceremony, or you announce in the newspaper that No. 1 Enping Road has changed hands." ”

He knew that Lin Zuhui was in control of this tongue and throat, and the Li family had recently wanted to calm things down, so he shouldn't make trouble anymore.

Lin Zuhui only values interests, and naturally said happily: "This is nature!" Business things, business competition, this is my style. ”

Zheng Yutong nodded, this is true, although this kid is ruthless, he is competing in the mall!

"By the way, how did you remember the sudden stake in Heung Kong Xingye?" Zheng Yutong asked.

At the beginning of the year, the new era exchanged 15% of the new shares of Xiangjiang Industrial with less than 3 points, which made Zheng Yutong also think about it, as if this was a good deal.

"Take a gamble, the new airport should come out in the next two years, and Discovery Bay will be very profitable!" Lin Zuhui said generously.

There is nothing to hide, although the Discovery Bay project is profitable, but the stock appreciation of New Era Group is higher, in fact, it is a mutually beneficial cooperation.

"In that case, we should consider it in the new world!"

Lin Zuhui said with a smile: "If you let Brother Chun come to power and then exchange, you can also make Brother Chun have more prestige!" ”

Zheng Yutong has already said that he will retire next year (he will remain as the chairman of the board of directors, and the general manager will let his son be), so Lin Zuhui knows.

"It makes sense, or you see far!"

The two chatted all the way and soon arrived on Hong Kong Island, in fact, the two could talk, so they didn't feel that time had passed.

This time, Zheng Yutong can be invited to be an intermediary, and it is expected that No. 1 Enping Road will win it, Lin Zuhui is in a very good mood, after all, a 600,000-square-foot high-end commercial building, let alone playing cards with him for a few nights, it is not a problem for a week.

Everyone plays cards and gambles money, but the maximum is only a few million, and no one cares!