Chapter 398: S.M Entertainment Changed Hands

The next day, Lin Yi came to Kakao Group and convened several senior executives of the group to discuss how to become the company's major shareholder as soon as possible.

President Kim Jung-kook frowned slightly when he heard Lin Yi's thoughts, which was a little different from the original acquisition plan.

Although it has already been decided to acquire the shares of Entertainment in the hands of Abeckus, this plan is a few months later, although the current Kakao Group can come up with this money, but the use of these funds will inevitably affect the business of other departments of the group, which will cause dissatisfaction among these departments.

"President, do you mean to complete the acquisition within this month? So anxious? ”

"Yes, within this month, a quick solution, is there any problem?"

"If the acquisition is to be completed within this month, the pressure on the group's funds will be great, which will affect the development of other businesses, and there will definitely be some complaints in the company at that time."

Kim Jong Kook cautiously reminded that although the Kakao Group has now become the top group in South Korea, it is still Lin Yi himself, as long as it is an order given by him, you can only find a way to complete it, and there is no other choice.

However, Lin Yi did not interfere too much in the operation of the group before this, he would still listen to the opinions of others, and this was the first time he had made such an urgent decision.

"I know this, I will find a way to solve the matter of funds, I just want to ask you now, in addition to acquiring the shares in the hands of Abeks, do you have any other acquisition plans, in case Abex does not sell us the shares of entertainment, have you thought about it?"

Hearing Lin Yi's question, a middle-aged man with glasses stood up and said:

"President, regarding the acquisition of entertainment shares, the group has made a total of 3 pre-proposals, the first is to acquire the shares in the hands of Abeckus, the second is to acquire from other small shareholders and retail investors in entertainment, and the third is to make an open offer."

"Well, tell me more about the third one." Lin Yi said with interest.

"The public invitation means that we announce the purchase price of an entertainment to the outside world, and as long as we are satisfied with this price, anyone who holds entertainment shares can sell it to us, including the company's director Li Xiuman, a major shareholder such as the National Pension."

"Well, what kind of price do you think is appropriate?" Lin Yi continued to ask.

"Today's share price of Entertainment is about 30,000 won per share, and we can set the purchase price at 35,000~40,000 won, which is actually an increase of about 20%, which is a reasonable price."

After hearing this, Lin Yi lowered his head and pondered, even if it is 40,000 won per share, it will take about 330 billion won to acquire about 20% of the shares of entertainment, which is equivalent to 300 million US dollars.

This money is not a small amount for the current Kakao Group, but it is not a small amount, and it is not a very good idea to spend so much money to acquire an entertainment company, after all, the group has many other projects that need more financial support, such as AI intelligence, databases, and so on.

After thinking about it for a while, Lin Yi turned his head to look at Kim Jong Kook and asked:

"President Kim, what is the liquidity that the group can use now?"

Kim Jong Kook thought for a moment and said:

"Chairman, at present, the working capital available to the group is about 500 billion won, but the group has just approved several projects not long ago, and it is necessary to use some funds, and if you want to acquire entertainment, the group will come up with a maximum of 300 billion won."

"Well, okay, I see."

Lin nodded at the table, and then said: "In this way, the acquisition of entertainment is the group's top priority at this stage, and the three plans just now are carried out at the same time, and the funds will be credited to the group's account within a week." ”

Hearing Lin Yi's bold words, everyone present was a little undecided, this is not a small amount of money, this is hundreds of billions of won at every turn, except for those big chaebols, who can come up with so much money in this short period of time.

"President, what are you going to do with this fund?" Kim Jong-kook still asked with some hesitation.

"I will notify the shareholders of the group to inject capital, and this is the last capital increase before the Kakao Group goes public."

This is also the method that Lin Yi thought of from the beginning, if there are shareholders who do not want to increase the capital, it is just right, Lin Yi himself will make up for this part.

However, with the imminent listing of Kakao Group, no shareholder should give up this opportunity.

Hearing Lin Yi's plan, Kim Jong Kook also put his heart in his stomach.

Indeed, increasing capital and shares is the best way, and the company is also a good asset after all, which will have a great boost to the stock price of Kakao Group.

Within a month, the entire Korean entertainment industry was in turmoil, Kakao Group and Entertainment were on the cusp, and the news media and the Internet were full of various gossip.

No one expected that as one of the most well-known entertainment companies in South Korea, it would now face the fate of being acquired.

The artists in the company are also cautious in dealing with things in this month, and they are very cautious when speaking in the face of the media, for fear that if they say something wrong, they will offend anyone.

Of course, there are some people who are very happy in their hearts.

At this time, in the office of the president of the company, there was smoke, and several men sat here with sad faces, without saying a word.

In the end, it was the president Kim Young-min who couldn't hold back and took the lead in speaking.

"Director Li, is there any room for recovery in this matter?"

Li Xiuman looked up at Kim Yingmin, this partner who has been against him for more than ten years is also old, and he is no longer as heroic as he was in the past.

"Hey, I just got a call from the president of RB Abex, who has decided to sell their shares in entertainment to Kakao."

After Li Xiuman said this, he leaned heavily on the back of the chair, and his back was a lot stiffer.

"That means that in fact, Lin Yi already has more than 30% of the shares in his hands now?"

Kim Young-min was a little disappointed in the face of this news, and he was also a little resigned.

Although his relationship with Lin Yi is better than that between Li Xiuman and Lin Yi, once Lin Yi enters the company, his position as president will definitely not be guaranteed, and it is difficult to say whether the company has a place for him.

Li Xiuman nodded, in fact, Lin Yi now not only holds 30% of the shares of entertainment, but also 50%.

Of course, these shares were held separately by Lin Yi and several companies, and after acquiring the shares of Abex, Kakao Group can almost own 27% of the shares of Entertainment, and it can already surpass Li Xiuman to become the largest shareholder of the company.

Because the shares exceed 25%, the company can only exist as a subsidiary of the Kakao Group in the future according to the Korean Company Law, and the Kakao Group also has the right of veto over the company.

After hearing this, the others were also a little depressed, and now that the brilliant company is really about to change hands, then these veteran high-level executives, even if they are not purged, the power in their hands will definitely not be as good as before.

At this moment, there was a knock on the office door, and the secretary walked in a little nervously and said to several people:

"The president, the director, and Director Lin are here."

When everyone heard this, they were a little stunned.

Lin Yi took the initiative to come to the door at this time?

What is this for?

Demonstrate?

Flaunt?

Or do you want to give everyone a dismount?

"Ask him to come in." Kim Young-min said helplessly.

"Yes."

The secretary withdrew, and soon reopened the office door, and Lin Yi walked in with a smile.

As for what was being talked about in the office, outsiders didn't know, but from this day on, Entertainment officially changed hands and became a subsidiary of the Kakao Group, operating separately and only responsible for Lin Yi.

In addition, there has also been a big change in the top management, in addition to Li Xiuman, the art director, the president, vice president, financial director, personnel director and other important positions have been replaced.

Among the people who were replaced, there was Lin Yuna's agent at the beginning, Lee Sung-so.

He was appointed vice president by Lin Yi, specializing in the entertainment girl group business.

And the president of entertainment, Lin Yi intends to take on the role himself until he finds a suitable candidate.