On Monday morning, Lin Zuhui appeared in a conference room in an office building in Paris, and had to admit that his team was so good that he would not delay him for a moment. Because he had breakfast at the Manor de la Ruchen early in the morning, he drove to the airport in Bordeaux at seven o'clock, and appeared in the office building in Paris at half past ten.

In the conference room, there are senior executives of the New Era Hotel Department, including President Coubert, Vice President Li Mingtao and others.

In fact, the structure of the hotel department of New Era Group is very simple:

34.5% equity of Modu Xiangjiang Hotel (market value of more than 23 billion) and 34.5% equity of Miramar Hotel (market value of more than 10 billion), these are two heavy assets, although the new era hotel group is not the main management, but it is also sent several directors, who have the right to interfere and advise on these two hotel groups, after all, they are major shareholders.

With these two assets alone, they are already on par with the hotel assets of New World Development. In addition, there is the Aircoa Hotel Management Group network in the United States, the Constellation Executive Hotel Group in Canada, the Hilton Hotel in Manila, and the Furama Hotel in Hong Kong.

Easily, the group's hotel assets have become No.1 in Hong Kong.

This time, everyone gathered in Paris, France, and naturally there was a big move.

After Lin Zuhui sat down, he didn't talk too much nonsense, and went straight to the topic: "Let's report on the situation at Club Med!" ”

Colbert immediately said, "Okay, boss. Founded in 1950, Club Med is currently the world's largest resort brand, with 91 resorts worldwide, mainly concentrated in Europe, followed by the Americas, Asia, Africa........ After the death of founder Blitz in 1991, the same year 'Desert Storm (Gulf War) severely affected the tourism industry, and Club Med suffered significant losses...... Today, the company has a market capitalization of $220 million...."

Listening to Colbert's report, Lin Zuhui also fell into thinking, this kind of resort is less profitable than the hotel, it may have an annual turnover of 1 billion US dollars, a net profit of only 10 million US dollars, and it may even be in a state of loss. Because of this, such businesses have a high asset value but a very low market capitalization.

It's not that his net profit is really so low, if he doesn't invest money in the purchase of heavy assets or large-scale renovation for a few years, then the net profit may reach hundreds of millions of dollars in a year, and the investment can be recouped in a few years, provided that the external conditions are very good and the company's management is efficient and useful management.

But Lin Zuhui is not considering the issue of rate of return, but a problem of industrial chain and influence.

First of all, let's talk about the industrial chain, entering the resort brand, which can improve the industrial chain of the hotel group in the new era, which has a certain influence and benefit for the entire hotel group; In particular, Lin Zuhui also wants to create an 'Atlantis' high-end luxury hotel brand, which strictly belongs to the 'cultural tourism' industry, and is a type of Club Med brand.

The second is influence, Lin Zuhui can't always make money in a 'speculative' way, which will limit his family's industrial prospects, and the biggest restriction is that he will not have much influence in the future, and other countries will reject his investment, because he is a 'speculator' and 'speculator', and it is easy to be thrown eggs. Club Med is the world's largest resort brand with tens of thousands of employees, and with his acquisition, it is equivalent to more than 10,000 employees.

After simply listening to the report, Lin Zuhui already knew in his heart, and he didn't need to be like the mastermind of other companies, he needed to read reports, inspect and analyze repeatedly.

"What about shareholdings? How are you going to make the acquisition? Lin Zuhui asked.

The implication is that the project is finalized.

In fact, New Era Hotel Group has done a lot of research work in the early stage, as well as pre-eulytic after the hypothetical acquisition.

So, "the shareholding is very diverse, with the largest shareholder being the current chairman and chief executive officer, Serge, who owns 8 percent. However, he has just taken over from his father, Gilbert? Trigano is located in a company that has not yet been officially mastered. ”

Lin Zuhui asked curiously: "Isn't the founder Blitz?" How did it get to this family? ”

Corbett immediately explained that the Trigano family was originally a small family that produced tents, and in the fifties and sixties, Club Med was just a company that invested in the 'tent village', and the Trigano family was the owner of the tent factory, so they invested in this company, Gilbert? Trigano also became treasurer of Club Med and later chairman of the company's board of directors.

After the death of founder Blitz in 1991, Gilbert? Trigano became the chief executive officer, but the company was hit by a 'desert storm' and the company's business plummeted. After all, when Trigano was old, he passed it on to his son Serge, hoping that Serge would carry out revolutionary reforms.

Lin Zuhui said: "In this case, let's make a public offer, and there is no need to rush the price of a tentative offer at a premium of 2 percent." ”

Since it is abroad, and it is not a Chinese country, it is better to 'buy in good faith'.

Cowbert nodded and said, "If you just become a major shareholder, it shouldn't be difficult to acquire." However, if it is a wholly-owned acquisition and delisting, then it will be a bit difficult, after all, this is not a mainstream acquisition. ”

Thinking about it, Lin Zuhui thinks that delisting and acquisition are indeed not mainstream acquisitions, and in the eyes of many French people, Club Med is a natural extension of French brands, and is a company that promotes their art of living and festival art, so it is not a simple tourism group. So, there is still some resistance to that kind of acquisition.

"It's not enough to just be a major shareholder. I'm not a big believer in this Sserge reform, so I want us to have at least the appointments of personnel and re-recruit the CEO. ”

Colbert hurriedly said: "No problem, we will definitely achieve this result at the minimum." ”

Lim added: "If it can be privatized and delisted, it will be a better outcome. I like to restructure the brand, make a profit, and then relaunch it at the right time. ”

At present, the brand is still in a loss-making state, so Lin Zuhui hopes that someone can rectify Club Med.

"Okay, boss."

........

New Era Hotels Group's offer to acquire Club Med was quickly reached by the President of Club Med and promoted through the French press.

For a time, public opinion in France ignited.

The world's richest man has just looted a Grade 2 Classified wine estate from France, and now he is once again targeting Club Med, France's cultural tourism brand.

Of course, compared to the public opinion on the acquisition of Latour and the Ruchen family's estate, the opposition this time is much smaller.

Club Med.

Colbert arrives at Serge's office to discuss the acquisition.

Serge is actually very interested in the offer of the New Era Hotel Group, after all, as the news of the acquisition spread, the company's stock price immediately soared by more than 5%, which is equivalent to 8% of their family's equity has also appreciated a lot.

And he also knows that behind the New Era Hotel is a super-rich man in the world, and the 20% premium is obviously not enough to successfully acquire, and there is a higher price behind, so it is better to join new bidders.

So, Serge asked, "President Coubert, for your acquisition, we need the board of directors to discuss it, and we need the approval of the French financial regulator, the AMF." ”

Corbett laughed and said, "Of course! I have only come to have a friendly conversation with Mr. Serge, and we are buying Club Med with great sincerity. ”

Serge immediately asked: "Since you are talking about the acquisition in good faith, then you must only be a major shareholder and not interfere with the company's operation?" ”

Colbert shook his head, startling Serge.

"Mr. Serge, we want to redefine 'Club Med', after all, the company has been in a terrible situation for the past few years, so we want you to take the money and step down."

Serge suddenly said unhappily: "Do you have a way to run the club well?" ”

"We have some business strategies, but we're going to hire a more suitable CEO to manage the company," Cowbert confidently said. "The source of his confidence is that the acquisition was proposed by the boss, and the boss seems to be full of confidence, so he is 'ashamed'.

As for why he told Serge bluntly, it was because of the need for a 'good faith acquisition', and it was what it was. Moreover, Serge cannot decide whether to accept it or not, and it is up to the board of directors and shareholders of Club Med to decide whether to accept the acquisition.

Serge could only say unceremoniously: "Okay then! We will organize a board of directors and we will let you know whether you accept the acquisition or not. ”

Cowbert nodded, and said, "Assuming that our acquisition is successful, if President Serge is optimistic, we can also retain some shares, and we are willing to reserve the position of 'Honorary Chairman' for you." ”

Serge immediately retorted: "Where do you have the confidence to run a good club?" ”

Corbett said with a smile: "A 29-year-old self-made richest man in the world, he has this strength in his own right, President Serge shouldn't think 'that's just luck', right?'" ”

Serge was speechless!

Lin Zuhui is by no means an unknown person in Europe and the United States, especially in the last year or two, not only acquired eight skyscrapers in Manhattan, but also invested in the UK's 'Canary Wharf', and now won the French Ruchen family estate, which is not a strong record.

What's more, Lin Zuhui enjoys the name of 'Asian stock god', investing in Citigroup, Microsoft, General Dynamics, etc., and is also well-known on Wall Street.

........

After initiating the acquisition of Club Med, Lin Zuhui did not choose to sit in person, after all, such an acquisition may take a long time to come to fruition. Perhaps the board of directors of Club Med rejects the acquisition proposal, then the New Era Hotel Group will raise the offer again and try again; It is also possible to join a third-party competitor halfway through and then bid again.

After all, this is a bona fide acquisition, so the final answer can only be felt through the offer and the board resolution/shareholders' meeting.