Chapter 680 [Large-scale Acquisition]

In late September, Lin Zuhui came to the United States, which was his first time on American soil after defeating international speculators.

In an office building in California, AndrΓ©, president of the Bank of Bahrain, Harold, vice president, and others welcomed Lin Zuhui's arrival.

Bank of Bahrain has two vice presidents, one is Liang Botao, who is in charge of Asian business; Harold is an elite talent on Wall Street in the United States, with rich investment banking experience and capabilities.

"BOSS," everyone greeted in high spirits.

Lin Zuhui shook hands with everyone one by one, and said with a smile: "It's a big job, and I am very relieved to see that everyone is very confident!" ”

Everyone laughed in agreement, and the mood did not come to feel relaxed, although the acquisition of 'Hilton Hotel Group' and 'Four Seasons Hotel' is a really big job, and the difficulty coefficient is quite high.

That's right, Lin Zuhui decided to use 'leverage' to launch acquisitions of Hilton Hotels and Four Seasons Hotels.

Of course, even if the Four Seasons Hotel is acquired by him, it will be the original founder who will continue to manage it and retain a part of his shares, and Lin Zuhui is like the corner of Bill Gates in his previous life.

Among them, the acquisition of Hilton hotels is the record of Bank of Bahrain, first acquisition privatization and delisting, and then through the reduction of operating costs and expansion of franchise and other models, the number of hotels, rooms, turnover, profit and other data of Hilton hotels expanded, and then found a good opportunity to re-list and cash out.

The acquisition of the two hotels has a characteristic, that is, it is not included in the Langham Group, which is a personal investment in nature.

Because whether it is a Four Seasons Hotel or a Hilton Hotel, their heavy assets are not high, that is, they mainly cooperate with property owners; On the other hand, Langham Hospitality Group (multiple brands) has a particularly high proportion of heavy assets, using the group's huge funds, and a large part of it is to buy/rebuild properties to open branches.

The model is not the same, and it can't be integrated. Moreover, the Hilton Hotel and the Four Seasons Hotel need more professional managers in this model.

Everyone came to the conference room.

Lin Zuhui had two documents in his hand, which he had already read on the private jet.

Four Seasons Hotel, listed in 1997, has a current market value of $1.51 billion, and its major shareholders include founder Sharp (36%), Prince Waleed (18%), and Bill Gates 5%. At present, it has 47 Four Seasons hotels (mainly asset-light, with a small number of heavy assets) and more than 20,000 rooms.

Hilton, with a market value of $8.2 billion, has been sold three times, and the current major shareholder is Ryderbrook Group; Hilton Hotels currently has 10 hotel brands in 2,200 hotels around the world with nearly 400,000 rooms.

Lin Zuhui said: "The purpose of this acquisition of the two hotels is different! The Four Seasons is my personal favorite, so the acquisition was just to suit my preferences; The acquisition of the Hilton Hotel is an investment behavior of the Bank of Bahrain, and if the Bank of Bahrain can delist the acquisition, reorganize and develop, it will be able to obtain a lot of profits in the future and improve its reputation. ”

At present, the Bank of Bahrain manages $20 billion in assets, which is not enough in front of Wall Street's giants who manage hundreds of billions of dollars at every turn.

The more than 20 billion US dollars in assets managed by the Bank of Bahrain have absorbed many European and American public funds by virtue of Lin Zuhui's signboard. In fact, the return on assets under management of the Bank of Bahrain has been very high and its fame has grown over the years.

The reason for the high rate of return of the Bank of Bahrain is also due to Lin Zuhui, after all, he knows the general trend, such as analyzing for them that the European and American economies began to recover in 1994, such as telecommunications, information industry, and banking have good prospects.

Harold nodded, he was the commander-in-chief of this acquisition, so he immediately said: "The Four Seasons Hotel is famous for its luxury, the founder Sharp will not resist the acquisition, he has experienced bankruptcy crises, and he understands the principle of timely cashing; Of course, since Sharp has so much influence on the Four Seasons, we have to consider him reserving a stake. ”

Lin Zuhui said: "There is no problem with this! I also want to keep Sharp and continue to let him run the Four Seasons. ”

Harold continued: "However, the boss still has two opponents – Bill Gates and Waleed. Bill Gates owns only about 5% of the stock, which he buys from the secondary market. He got married at the Four Seasons Hotel in Hawaii, so he made no secret of his love for the Four Seasons Hotel, and now he is the richest man in the world, and he will definitely come out to stop us from buying it; And Waleed, who holds 18% of the stock, is also a rival to be reckoned with. However, I heard that Prince Waleed is the boss and your friend, and I believe that if we pull together, then the acquisition will be much easier! ”

When Lin Zuhui heard this, he thought about it, what Harold said was very good, the investigation was also very detailed, and the analysis was also very reasonable.

"Ignore all of this and go straight to the Four Seasons to see how everyone reacts! Naturally, the offer should also be high, so as not to make people laugh! ”

He asked Hengjin Investment to package $5 billion of funds and inject it into the Bank of Bahrain as a hotel fund.

Lin Zuhui's Hengjin investment, starting to cash out next year, will be 300 billion Hong Kong dollars, these funds can no longer invest in high-return industries, so even low-return industries such as hotels cannot be let go.

Harold was quick to say: "Then an offer of 30% premium is very sincere. If you privatize Four Seasons at this price, it is equivalent to more than 30 times its profit! ”

His words attracted everyone's attention, but everyone agreed very much. The hotel industry is originally at a high premium, and it is normal for hotels with an annual profit of 100 million to be acquired by 4 billion or 5 billion.

If you want to recoup your profits on profit, that's impossible. After the acquisition by ordinary people, the hotel will be re-developed, and its brand effect will be used to develop rapidly. If it is an investment bank, they will also choose to go public and cash out at the peak, and throw the leveraged loan at the time of acquisition to the hotel.

Lin Zuhui also thought about it, he remembered that in his previous life, Bill Gates and Waleed were in front of Lehman, but they were enough to privatize 47 times the profit, and the price seemed to be 3.8 billion US dollars.

To be honest, after the acquisition of the Four Seasons Hotel, Lin Zuhui can't make much money, unless he finds a good time to go public, then he can make a lot of profits; And now, he is purely seeing the high consumption of good things.

"Yes, although the price is high, it can show everyone our sincerity!"

Harold continued: "If you buy a Hilton hotel, you can't be so generous, we need to try it step by step, after all, we have to find a loan bank. So, I recommend making a tentative offer at $25 per share! ”

The current Hilton stock price is $24, with a total share capital of 340 million shares and a market capitalization of $8.2 billion. However, Hilton still has $4.5 billion in debt.

If the acquisition is launched at a price of $25, the price is also a full $13 billion!

Of course, it is impossible to make a successful acquisition at this price. Blackstone stepped in when Hilton's stock price was $30 in the previous life, and it was only $48 before the acquisition was completed, and it was also burdened with six or seven billion dollars in debt, with a total cost of $26 billion.

Although the price of Hilton is high, in fact, assets have been seriously undervalued, which is why investment banks are willing to pay a lot of premiums; For example, with a market value of $8.2 billion, someone else's assets may already be $20 billion, and their net worth is about $15 billion.

"Come as you are! You can start the Four Seasons Hotel first, then the Hilton Hotel, and gradually start the acquisition plan! ”

"Okay!"

In order to acquire these two hotels, Lin Zuhui also deliberately arranged for Andre to strengthen the human resources construction of the US branch half a year in advance. Of course, with Lin Zuhui personally in charge, it is more effective than any kind of talent.

He has many years of experience in the development of large enterprises, and is good at asset restructuring and enterprise development, plus he knows the economic and financial trends of Europe, America and Asia, which is even more powerful.

In fact, his sudden involvement in the American hotel industry, in addition to his huge funds, there is also an Internet company in which Jingwei Capital will also start to cash out its investment next year.

The United States makes money and the United States spends so that it will not be investigated. If he spends nearly $20 billion in the United States this year, the United States will be very happy in the hotel industry, investors will be happy because they have received a high stock premium, and the U.S. government will be happy because the hotel industry is a low-return industry that 'collects interest' and can solve a large number of jobs.

Of course, this is just a general statement, and some of the stocks he bought in the secondary market can be gradually taken back to Xiangjiang through secret means and by means of ants moving. He won't take a lot either, he'll come on demand.

On the streets of New York, Lin Zuhui was dressed in casual clothes, wearing a baseball cap and sunglasses, and his disguised appearance made Yin Wanka laugh out loud.

"Isn't it, do you need to disguise yourself like this?" Yin Wanka pointed to Lin Zuhui's outfit and said with a laugh.

Lin Zuhui also looked at Yin Wanka, a white knee-length skirt, a blue T-shirt, and golden hair tied back his head; At this time, she was only young, far less elegant than in later generations. The size of the chest is indeed BIG, and it doesn't look like it's long, but the face is also a little different from the later life, and it seems that there was some slight plastic surgery in the previous life.

But no matter what, she is definitely a beauty, especially tall and large-scale, which is Lin Zuhui's dish!

"If your father knows that I am dating you, he will definitely sue me!" Lin Zuhui made a joke.

Yin Wanka said in surprise: "You mean, are we dating?" ”

Lin Zuhui said calmly: "Isn't it? You asked me out, don't you know if it's a date? ”

Yin Wanka hesitated for a moment, then laughed and said, "Okay, today is our first date!" I don't know what Mr. Lin's arrangements are? ”

Lin Zuhui said boldly: "How about shopping, eating, and then going to my villa?" ”

When Yin Wanka heard this, he generously grabbed Lin Zuhui's arm and said, "Then let's start dating, I'm looking forward to how Mr. The richest man pleases girls!" ”

Lin Zuhui smiled, his heart bloomed, he didn't expect things to go so smoothly. The two have only met once at Villa Tangrad, and then the two have been in contact through ICQ and telephone, and today can only be regarded as the second time they have met.

But soon Lin Zuhui found out about Ivanka's unscrupulous behavior, only to see her take out a box of cigarettes from her bag and invite Lin Zuhui to enjoy it together.

"I don't smoke, just like your father doesn't drink!"

Yin Wanka picked up a cigarette, lit it and said, "Then you won't stop me from smoking, right?" ”

Lin Zuhui said with a smile: "Now I won't!" ”

Hearing Lin Zuhui's generous words, Yin Wanka suddenly became interested.

"Now you don't mean that you will stop me from smoking in the future, you don't know that my father can't control this! And, in our United States"

Lin Zuhui listened carefully, and then he said: "Of course, I am not stopping you from smoking, but persuading you not to smoke." If I let you understand that an elegant, positive, and successful Yin Wanka Te, her life is more praiseworthy, and she is the focus of celebrities wherever she goes, I believe you will not feel that that kind of life is not as good as your current state. ”

Yin Wanka looked at Lin Zuhui in surprise, she felt that this man was very convincing!

After all, she is a wealthy family, and she understands that money and power are really good things.

"My father said you think he's going to be the head of the United States, right?" Yin Wanka asked curiously.

"I think he has that potential, but it's actually very difficult, because the United States doesn't have a head of businessmen yet, so it's just an encouragement!"

"Haha, he's serious now, and decided to participate in the election in 2000!"

"Congratulations to him, the first step!" As soon as the words changed, Lin Zuhui said: "So, if your father succeeds in the future, will his daughter walk into the Hundred Palace with a cigarette in her mouth?" ”

Yi Wanka suddenly felt that the cigarette in his hand was no longer fragrant, and immediately threw it into the trash.

Lin Zuhui, sure enough, the girl wants to coax!

The next shopping made Lin Zuhui secretly praise Yin Wanka, she didn't care much about luxury brands, and insisted on paying for some gadgets herself.

Of course, there is no shortage of girls in this kind of family, but if you think they don't care about money, you're wrong. For example, Yin Wanka obtained a stock speculation information from Lin Zuhui, and bought all his hundreds of thousands of dollars of pocket money into Cisco stocks.

After lunch, I took my sister to Lin Zuhui's villa in Long Beach, New York.

The two soon came to the pool, to be honest, Lin Zuhui showed off his wealth, and the girl may not have much feeling; But if Lin Zuhui showed off his talent and body, the girl's eyes would be different immediately.

In the pool, Lin Zuhui's strong physical fitness was immediately reflected.

"Your physical fitness is so good, you can't see that you are so strong and powerful at all!" Yin Wanka looked at Lin Zuhui swimming in the pool, swimming like a fish in the water, and was suddenly surprised.

Lin Zuhui's ears were sharp, and after hearing it, he plunged into the water, and then swam to Yin Wanka's side.

Seeing that after surfacing, only 20 centimeters away from Yin Wanka, Lin Zuhui wiped the water off his face with his hands and opened his eyes.

"Good BIG, good hundred!" Lin Zuhui sighed in his heart.

The two of them are about the same height, if Yin Wanka wears high heels, Lin Zuhui will definitely look a little shorter, after all, he is only 178CM, which is exactly ten times that of the following.

"You mold me here, you can feel his power!" Lin Zuhui pointed to his Xiong Ji.

Yin Wanka pressed his palm on Lin Zuhui Xiong Ji without hesitation, and suddenly fell in love!

Don't look at Lin Zuhui looking thin, but in fact, his body is very strong, which is the result of genetic mutations.

"How?" Lin Zuhui asked proudly.

"Is this your exchange of gifts in China? You invited me to model your Xiongji, and now you mold your hands on my P-shares and waist. Yin Wanka said with a sly face.

At this time, she was already attracted to Lin Zuhui, and she did not exclude the possibility of further cooperation between the two.

Lin Zuhui said with a smile: "I'm worried that you will be shocked by my power and cause you to fall!" ”

"I don't like men who use strong words!" Yin Wanka said cutely.

It's a pity that as soon as her words fell, Lin Zuhui immediately let go of his hands, and Xiong Ji exerted his strength from within.

Then, Yin Wanka's 'ah' life, only to feel a burst of power, rebounding to her arm, then her body fell backwards, and then the beauty completely fell into the water.

A smile appeared on the corner of Lin Zuhui's mouth, admiring the perfect cylinder, and fell straight down.

Beautiful!

At this time, Yi Vanka still needs a slight plastic surgery to be the appearance of the future generations, but it will not affect her beauty and seductiveness.

"Lin, you're going too far!" Yin Wanka was as beautiful as a hibiscus out of the water, but she still couldn't stop the 'anger' on her face, so she directly chased Lin Zuhui to play in the pool, and the scene was a lot of fun.

Lin Zuhui fled, and at the same time made a splash with his hands!

"Ah, Lin, I'm going to beat you!"

The two had a water fight and had a lot of fun!

Lin Zuhui stopped at the right time and deliberately lost the enemy, which really made Yin Wanka very happy and even more interested.

Suddenly, Lin Zuhui suddenly exerted his strength, faced the splash that came over, and quickly approached Yin Wanka.

"Ahh

It's a pity that Lin Zuhui's movements were too fast, and then he hugged her, faced the frightened Yin Wanka, and put his lips on it.

A burst of French romance, the relationship between the two has taken a big step!