Time flies, half a year has passed in a blink of an eye, and it has come to July 2003.

In the past six months, Asia has been attacked by SAS, and the economy has been affected to a certain extent.

Due to the impact of the SAS incident and the 85000 plan, the real estate of Xiangjiang has fallen again, down 50~70% from the peak in 1997 (there was a slight rebound during the period, but the overall downward trend).

The stock market fell below 11,000 points at the end of April (8,400 points in the previous life) before bottoming out, with the Hang Seng Index at 12,000 points as of the opening on July 2.

The impact of SAS on Hong Kong also includes catering, tourism and retail, but with the end of late June, everything is already clear.

.........

New Era Group Headquarters.

"In the first half of the year, the global economy continued to rebound, especially the total export volume of China's foreign trade increased by more than 30% over the same period last year, the global container trade volume grew rapidly, and the demand for containers remained strong..... Times Shipping's revenue increased by at least 100% over the same period last year, and net profit also increased significantly..... The container business continued to maintain the good situation of the previous year, product prices continued to rise, and production and sales reached a new high in the same period of the previous year. ”

Shipping Breakout!

In fact, in 2002, it was already a shipping recovery, and this year's SAS did not have a great impact on shipping, and could not stop the arrival of the shipping cycle.

It's time for shipowners to make a profit!

Last year, the net profit of New Era Group was already 50 billion Hong Kong dollars, and this year's breakthrough of 60 billion Hong Kong dollars is stable.

The impact of SAS is only in March~June, and it ends soon after. Even though Heungjiang's real estate is currently at its lowest point in recent years, New Era Group's real estate and hotel business in Europe, the United States and other parts of Asia is growing steadily.

Since the overseas business of New Era Group occupies a large proportion, among all the large enterprises in Xiangjiang, New Era Group has naturally been less affected.

Lin Zuhui said with satisfaction: "This wave of shipping cycle is coming, you have to do a good job in the shipping of the times, don't have an accident." In particular, the oil tanker business must be the main safety. ”

In November last year, a Greek oil tanker spilled in Spain's tourist resorts and fishing areas, and the fines immediately bankrupted the shipowner's company.

In fact, with the advent of the era of shipping giants, the oil tanker business has become the patent of giants, and ordinary shipowners cannot enter this industry. Of course, most shipowners rely on chartering ships to shipping companies to make a profit.

Morris nodded and said: "At present, our oil and gas business transportation is in Bengesen Group (Norway), and our ships are almost all new ships and new ships, we will pay attention." ”

What Morris means is that the Bengersen Group is a giant in oil and gas transportation, with more than 40 years of experience, and with the good condition of the vessels, the likelihood of a spill is slim.

The Bengesen Group has already been privatized by Times Shipping, and Times Shipping has handed over some of the new ships and sub-new ships it has ordered to the Bengesen Group for management; At the same time, Times Shipping has introduced Bengersen Group to vigorously develop its business in Asia, especially in the mainland.

In this way, Times Shipping can naturally make more money, after all, chartering a ship to go out, there is its own management and order to make more money.

Of course, after all, Times Shipping has ordered more than 23 million tons of various ships in the past four years, so the leasing business is still very important.

Lin Zuhui continued: "We can earn a lot of profits in shipping in recent years, it is inevitable, I hope you will develop faster in the field of logistics, after all, we have funds." ”

"Okay! The cyclical nature of shipping is too strong, and the boss's idea of taking precautions is very good, after all, logistics is more stable than shipping. ”

Lin Zuhui nodded and said: "The aircraft leasing business should also break out, and mainland airlines are the target of our focus." Of course, customers in Europe and the United States should also maintain stable growth. ”

"No problem, I'll do a good job!"

There are two models of aircraft leasing business - long-term and short-term, which seem to be only the difference in term (7 years is the boundary), but the difference is very large.

At present, the global aircraft leasing business is mainly short-term, that is, the lease period is less than seven years, and the maintenance of the aircraft is the business of the leasing company.

The reasons why this type of leasing has become 'mainstream' are:

1. Airlines can set the length of the 'lease period' according to their needs, so as not to cause waste of resources, and at the same time, they do not need to pay for aircraft maintenance and repair.

Second, for the leasing company, it is possible to obtain a higher rent; But if you hit a low point, it will be a big loss.

But precisely, short-term leasing is more suitable for 'Times Airlines', after all, Lin Zuhui knows the cycle and can be laid out.

After Morris left, Lin Zuhui smiled excitedly.

Times Shipping Group has invested a total of about 35 billion US dollars (and now the assets have definitely appreciated), but the rate of return on wealth creation will be enough to make people crazy.

During the Su Yin Shi crisis in the sixties and seventies, it was said that it was possible to earn back the money for a new ship in three years; And in this wave of market, it may be three or four years to earn back the money to build new ships. Before the outbreak of Lehman, if some ships were sold while the price was high, more than 70% of the money from shipbuilding might be returned.

It is simply double the happiness, on the whole, from the layout in 1998, as of 2008, the annual return rate of Times Shipping may reach more than 20%. Not to mention, it also creates a perfect foundation.

.....

"Dongdong"

"Come in"

Yuan Tianfan and Wang Weijian, president of 'Times Beer', walked in together.

Wang Weijian said: "Boss, Harbin City will sell 29% of the shares of Harbin Beer to AB Company (Budweiser) of the United States at a price of 3.3 Hong Kong dollars per share. ”

Lin Zuhui was stunned for a moment, and couldn't figure out what Harbin City was doing?

At present, Times Beer also holds about 29% of Harbin Beer, which is the result of cooperation with six professional managers of Harbin Beer at the beginning of the year. At that time, the conditions of the cooperation were that the six professional managers invested 5 million Hong Kong dollars to form a company with Times Beer, and then bought 29% of the new shares of Harbin Beer at a price of 700 million Hong Kong dollars. It is also stipulated that six professional managers can get 55 million Hong Kong dollars to exit after one year.

In fact, this is to ensure the welfare of the management of Harbin Brewery, and Harbin Beer has a lot of money to develop the business.

"Have you ever gone to the mainland media to do advertising or anything like that?"

Wang Weijian hurriedly said: "Yes! However, the Harbin market believes that we have been in Harbin for half a year, and we have not brought synergy to Harbin beer in terms of production and marketing. Therefore, they believe that we are not the best buyer of Harbin Beer and prefer AB Company. ”

Lin Zuhui couldn't help laughing, Hashi is a little funny.

Yuan Tianfan also said: "We have appointed two directors, and it is hard to imagine what dramatic changes these two people will bring to Harbin Beer in six months. ”

Wang Weijian nodded and said, "That's what I said in the mainland media!" However, looking at the appearance of Harbin City, it tends to be a large international enterprise like AB Company. ”

Times Beer's 'Shengli Beer' is only 30% higher than the annual output of 'Harbin Beer', which is naturally not a giant, and AB Company is at least dozens of times that of them.

Lin Zuhui asked again: "The Development Committee actually agreed so quickly?" ”

This kind of acquisition will inevitably go through the relevant departments in the mainland.

Wang Weijian nodded and said: "It seems that Harbin is operating, it is a little strange to say, Harbin sold 29% of the shares of Harbin Beer to AB Company, the price is not high, and we can definitely pay a higher price!" ”

Lin Zuhui said: "I have never set foot in investment in those three provinces, there may be reasons for this! ”

Although I don't know if this is the reason, Lin Zuhui's influence is definitely not in those three provinces, and he has not invested a penny so far. Even if it's real estate, I didn't go there.

There are many reasons for this, mainly because he considers that the population there will be seriously lost in the future and the future development prospects will be limited.

Yuan Tianfan said at this time: "At present, the shareholding of Harbin Beer has become 3:3:4, we and AB Company each take 29%, and the public shareholding is 42%. In this case, the only way to do this is to initiate an acquisition in the stock market. Once the acquisition is completed, Harbin can only cooperate with us to develop Harbin beer in the future, after all, once the enterprise is not running well, it will also affect the economy of Harbin City. ”

Lin Zuhui nodded and said calmly: "Now is the war between us and AB Company, and it is an instant war, so let's directly issue a comprehensive acquisition offer!" But this time, I don't want to give AB a chance, you can just take it at a premium of more than 40%! ”

】

The cost is more than 5 billion Hong Kong dollars at most, which is not worth talking about for the cash cow of New Era Group.

In the future, the brand value of Harbin beer will be more than 150 billion, and the annual profit will be four or five billion, so why worry about losses!

This is also the result of the acquisition of Harbin Beer by AB Company in the previous life, and they did not operate with care, after all, they mainly wanted to sell their own brands.

The Shengli Beer under Times Beer is also a century-old brand, and all factors do not belong to AB Company; Once Harbin Beer is acquired, it will be carefully managed, and Harbin Beer will definitely become one of the three giants of domestic beer (currently the fourth).

Yuan Tianfan nodded and said, "Okay, let's organize a comprehensive acquisition immediately!" ”

The calmer the boss, the more determined he is, so they have to complete the acquisition.

As for the price, the boss never cares about buying expensive and cheap, and the development can make a lot of money.

........

The ownership of Harbin Beer has entered an extremely delicate moment, and Hong Kong investors have been paying attention to the news, and the medium-sized beer company, which has been listed for less than two years and has a market value of just over HK$3 billion, has already been in the limelight.

"New Era Group vs. AB Beer, Who Wins and Who Loses?"

"It doesn't matter who wins or loses, I believe there are no losers!"

"Haha, that's right, those who have tickets are waiting to get rich."

There is a lot of discussion, which undoubtedly drives the heat of the stock market.

In fact, the citizens of Xiangjiang know that New Era Group is definitely the world's top giant in the field of acquisitions, and it has relied on acquisitions all the way to become a giant; What's more, New Era Group has always had hundreds of billions of Hong Kong dollars in cash flow, and its strength is not strong.

However, AB Company is not bad, with annual sales of nearly 10 billion US dollars, although its strength is lost to the New Era Group, but it is not known how many times stronger than Times Beer.

........

Mr. Wayne, the head of AB Asia, led the team to Harbin and happily signed the 'AB and Harbin City Urban Development Trust Fund' with the local government, and AB injected 8 million US dollars into the trust fund to promote local economic development and benefit the citizens of HEB.

For a time, public opinion was in an uproar.

People think that AB Company has taken diplomatic measures to get rid of the Harbin city government, which puts Times Beer in an embarrassing situation.

After all, if the development of Harbin beer in Harbin City is not supported by the government, it is obviously certain.

At the time of public opinion, the Venn team also retreated because of the difficulties of Times Beer, after all, things have developed like this.

.....

July 5th, weekend evening.

Peregrine, the financial advisor of Times Beer (which has always retained the brand), held a press conference to announce the full acquisition of Harbin Beer at a price of HK$4.3 per share.

Liang Botao, as a representative, told reporters: "If Harbin Beer is won by Times Beer, it will usher in a vigorous development opportunity, and Times Beer will allow Harbin Beer to concentrate on cultivating the mainland market and go out on behalf of the Chinese beer industry." ”

For a while, the scene boiled.

It's not that Times Beer's promise is important, it's that Times Beer's bid is too high, a 45% premium to the average price in recent times.

.......

AB Asia Headquarters.

"Manager, something is wrong, Times Beer announced a comprehensive acquisition of Harbin Beer at a price of 4.3 Hong Kong dollars!"

Vane was taken aback when he heard his men's words.

"They're crazy, is it worth that much?"

"Yes, at this price, the value of Harbin beer is as high as 5.2 billion Hong Kong dollars, a full premium of 45%!"

Vane quickly calmed down, after all, AB Company would not be a loser.

However, when I think of the $8 million I just sent out to Harbin City as a trust fund, I can't help but feel a little painful.

"I'll call the headquarters and see if I want to launch a reverse takeover!" Vane said.

The price is too high, and the acquisition of a Harbin beer in Huaxia almost costs AB Company nearly a year's profits. Harbin beer, on the other hand, ranked fourth in China.

........

On Monday, Lin Zuhui also came to Beijing for activities, met with the main 'staff' of the Development Commission, and quickly received support. As for the Harbin market, he did not go there, at least he would not go to inspect the work until he took the Harbin beer.

The staff of the Development Committee almost patted their chests and assured Lin Zuhui that if Times Beer could win AB Company, it would definitely not be harassed by any Harbin market.

Lin Zuhui left the relevant departments satisfied.

........

In mid-July, it became clear that AB had not made a decision on the takeover, and shareholders and institutions holding shares had registered with Peregrine's representative office.

In the end, Times Beer completed the acquisition of 99.1% of the equity in the secondary market and privatized Harbin Beer.

The consideration is actually not 5.2 billion Hong Kong dollars, after all, the initial 29% equity consideration is very low, which is actually equivalent to spending 4.6 billion Hong Kong dollars to complete the acquisition.

Company AB made a profit of 350 million Hong Kong dollars, and in just one month, even excluding the 50 million Hong Kong dollars donated to the trust fund in Harbin City, it also obtained a profit of 300 million Hong Kong dollars.

There is no loser in the whole acquisition, if there is, it is also the Harbin municipal government, after all, they can sell to Times Beer shares at a high price.