After seven days of negotiations, the Kadoorie family finally reached a preliminary agreement with Pao Yugang and Kuok Henian. In six months, Bao and Guo would acquire the shares of China Power and Hotels from the Kadoorie family with a sum of funds. Now, Then they will obtain the management rights of the two companies. As for the shareholders' meeting, there is no need to hold it again. Both of them own 34.9% of the stocks and have obtained the management rights. Basically, they have ignored the level of the shareholders' meeting.
As for the acquisition after half a year, we still need to negotiate again, because it may trigger an acquisition offer, so we must either buy back the shares in the name of the company, or sell them to other investors, etc. But this is a matter for the future. For now, this This acquisition of a large hotel and China Power was a perfect success.
After the news was announced, CLP's stock price plummeted again. Many speculators who had bought it at a high price and were waiting for the stock price to soar after the fierce battle suffered heavy losses. The Kadoorie family seemed to have suddenly disappeared from Hong Kong. No reporters could find them anymore. Rumors said that their family had gone to Canada, but no one cared about it anymore.
The Hong Kong stock market has also returned to calm.
In the following period, Robert Kuok returned to Malaysia, and Pao Yugang became extremely busy. CLP is a super company with complicated business. At the same time, the power business is one of the infrastructures of Hong Kong. There are many things with the Hong Kong government and local governments. To deal with it, the Kadoorie family was exhausted before being attacked, and many things were wasted. Now it is only Bao Yugang who can wipe the butt.
The Hong Kong government is actually very unhappy about CLP being acquired by Chinese capital, but there is nothing they can do about it. After all, the Hong Kong government’s international propaganda is the absolute freedom of capital, regardless of the difference between capital in any country. Besides, the people in the north The relationship between our neighbors and Europe and the United States is getting better and better, and the Hong Kong government does not dare to give people an excuse for many things.
So I can only make things difficult for some small things, but for Pao Yugang, it has no impact. If you make things difficult for me, I will leave the matter to those British ghosts and you can do it yourself. Anyway, the Hong Kong government I dare not shut down the China Power Plant.
Time soon came to early September, and the four original members of the Taishan Society gathered together again.
The gathering place was naturally on Chen Zhiwen's "Century One" yacht. There was no bikini, and it did not leave Hong Kong. Instead, it parked in the middle of Victoria Harbor. Opposite Hong Kong Island are various high-rise buildings, but it is worse here in Kowloon. There are many, but there are also a large number of building groups, especially various residential areas.
"Sooner or later, we will acquire most of the buildings there." Chen Zhiwen raised a glass of red wine worth tens of thousands a bottle and smiled at the three of them.
"Then we have to clean up the real estate." Bao Yugang said with a smile.
"Of course, but now is not the time." Chen Zhiwen said lightly.
“But now Jardine Matheson and Land hold mutual holdings, each controlling about 30% of the other’s shares. According to Hong Kong government regulations, this can be increased to 40% after two years. This basically eliminates the possibility of other acquisitions. ." Bao Yugang said with a frown.
"The difficulty is not low, so we can only wait for the opportunity. With the scale of Jardine Land, if they don't make mistakes, outsiders will have no chance." Chen Zhiwen said with a smile.
After the Kadoorie family was serially acquired, Jardine Matheson and Land were so frightened that they resorted to the same tactics as in history and took control of each other. Chen Zhiwen had actually known about this possibility for a long time, but he did not intervene.
Nowadays, land prices in Hong Kong are high, and the market value of Land exceeds 10 billion Hong Kong dollars. If Chen Zhiwen purchases it, the amount of funds required will be huge. Even if the income obtained from gold futures can achieve this, The price is too high. There are too many opportunities to invest in the global market. Although the value of the building in Central, Hong Kong is high, it is not so high that Chen Zhiwen has to invest a lot of money in it and give up opportunities in other places.
If history remains unchanged, then 1983-84 will be a good opportunity to acquire Land. Even if it changes, given the behavior of the Jardine family, it will still be possible to sell Land in the late 1980s. After all, in the original history, Jardine However, before 1987, there was an intention to sell the land to a Chinese-funded consortium headed by Li Jiacheng, but due to the 1987 stock market crash and subsequent price issues, the matter fell through.
"I'm afraid the only one who can manage real estate in Hong Kong is Chen Sheng." Hu Yingxiang also said with a smile.
"The British capital in Hong Kong should have left long ago." Chen Zhiwen said with a smile.
"Chen Sheng, how much did you spend on this boat?" Robert Kuok suddenly asked.
"It's almost 30 million U.S. dollars, but this is a bargain. Normally it might be more than 10 million U.S. dollars," Chen Zhiwen said.
"So expensive? It's even worth a 100,000-ton oil tanker." Bao Yugang said in surprise.
"The price of a ship is not proportional to its volume. The rescue helicopter above costs four to five million US dollars in the United States. The entire ship uses the same radar system as a warship. Even without satellites, it can measure When the weather is hundreds of kilometers away, there is a small submarine below that can be used for escape or deep-sea exploration. The various data of the entire hull are also very excellent, plus luxurious decoration, it costs about 40 to 50 million US dollars." Chen Zhiwen Introduction said.
"It's a small Central building. I would definitely not be able to part with it." Hu Yingxiang said.
"There are many buildings in Central, but our time is limited. Life is all about enjoying it." Chen Zhiwen said with a smile.
"That's right. Chen Sheng's view is also reasonable. However, we people, when we were young, our achievements were too low and we kept working hard. Now that we have achieved achievements, we are also old. We can only let our descendants enjoy it." Robert Kuok shook his head and said.
"That's not bad. It is more meaningful for future generations to enjoy it than for us." Bao Yugang smiled and said: "Let's get down to business. Now I have obtained the management rights of China Electronics. Chen Sheng, according to our previous agreement , everyone can prepare to hold shares in each other, how about it?"
"Yes, then we can let Hong Kong Electric and CLP exchange shares with each other. In this way, we can also share each other's profits. In the future, it will be much more convenient to invest in new power plants in China." Chen Zhiwen nodded and said, this was what he had said before In the agreement with Pao Yugang, due to the new law of the Hong Kong government, major shareholders can hold up to 40% of the shares of the holding company, which is less than the previous 49.9. If you want to obtain more benefits from the power market, you can obtain 16% of the other party's shares are used to circumvent legal requirements, and in this way, one of the other party's directors can vote.
In fact, this method is not feasible in many developed countries. Generally, antitrust laws will prevent similar companies from holding shares in each other. But in Hong Kong, there are monopolies everywhere. Fortunately, there are legal restrictions on listed companies, otherwise Monopolistic behavior will be more exaggerated.
"Well, the stock price of China Electronics is relatively chaotic during this period. We can trade at the price before the acquisition. If Hu Sheng and Guo Sheng are interested, they can also participate." Bao Yugang said with a smile.
Robert Kuok shook his head and said: "I'll forget it, I have no interest in the power market."
Hu Yingxiang also said: "Me too, but if Mr. Bao wants to develop CLP's real estate, he can cooperate with me."
"Okay, it just so happens that I don't have any experience in this field." Bao Yugang nodded and said. Basically, the talents of the Bao family are related to shipping and have no understanding of real estate. However, the main focus now is to successfully take over the business. Even if CLP's power generation business and real estate are highly profitable, it is unable to develop them. Considering CLP's debt pressure, it is appropriate to cooperate with outsiders appropriately.
"Actually, there is one thing I want to tell you three." Chen Zhiwen paused and said: "The current price of Hong Kong's real estate market has exceeded 30% of the peak in 1973. I predict that it may have reached a point where It’s on the verge of problems, so if you want to invest in real estate, you must be cautious.”
"What Chen Sheng means is not to develop now?" Hu Yingxiang asked. As Hong Kong's top real estate developer, he actually feels that the current housing prices are approaching the market limit, but no one knows when the collapse will occur. .
"That's not the case, but we need to do some short-term projects." Chen Zhiwen continued: "My current Hutchison Real Estate and Wharf properties are now in this model."
The three major real estate companies under Chen Zhiwen, the original Galaxy Real Estate, have basically begun to transform. The latest business is to end the real estate projects in their hands and sell them for cash. Some high-quality properties, such as two properties acquired from Wheelock The Central Building will not move and will be converted to a real estate model. It will collect rents in the same long-term as land. The main business of the entire Galaxy Group will shift to a model that focuses on trade, supplemented by investment, and collects some rent at the same time.
Hutchison Whampoa and Wharf are trying their best to develop their own non-core land and quickly cash out cash to prepare for future bargain hunting. However, according to the original history, the entire market will still be in a period of sluggishness, that is, housing prices will remain high, but The trading volume is not high and everyone is holding on. If you make good use of this period, you can still make a little profit.
"If this is the case, Hehe and I also need to be prepared." Hu Yingxiang thought for a while and said.
At this time, Robert Kuok suddenly asked: "Sheng Chen, I originally wanted to take a piece of land or buy a piece of land on Hong Kong Island recently to build a Shangri-La Hotel Hong Kong branch. If there are problems in the real estate market, should I start later? ?”
"Later, you start now. Once the construction is completed, you may directly encounter the real estate crisis. By then, the economy will be poor and there will be no business." Chen Zhiwen said: "In addition to the Peninsula Hotel, there should also be a lot of property land under the Grand Hotel. You You can consider selling part of it. Now that housing prices are high, you can recoup your capital. When problems arise in the real estate market in the future, you can buy the land needed for the hotel at a low price."
"Okay, Grand Hotel does have some land under it." Robert Kuok nodded and said. Grand Hotel has a history of several decades. This type of enterprise develops in Hong Kong. As long as it is not dead, it basically has many properties under its umbrella.
"In the past one or two years, there should be nothing worth fighting for in Hong Kong. This acquisition of CLP and Grand Hotel is also the first success of our Taishan Club. I hope we can continue our efforts in the future." Chen Zhiwen smiled. He smiled, raised his glass and said, "Cheers."
"Okay, cheers to celebrate our first success." Hu Yingxiang said with a smile.
There are no taboos for red wine worth tens of thousands. Even if you drink half a cup, you will not feel any discomfort. After Chen Zhiwen finished drinking, he poured some more and asked: "Hu Sheng, how are your inspections in China during this time?" ?”
"I released news in China through the president of Xinhua News Agency that I was interested in building a joint venture hotel. In more than half a month, I received responses from more than a dozen cities. They were all interested in cooperating with us. However, I only went to Yanjing, Shanghai After looking at the three cities in Shanghai and Guangdong, we found that the locations they were willing to provide were all very good, and they were all in prosperous urban areas," Hu Yingxiang said.
"That shouldn't be a problem. You won't lose money on your investment in these locations." Chen Zhiwen nodded and said. Today's prosperous areas in Beijing, Shanghai and Guangzhou will become very rare prime locations in the future. No matter what, it will be cost-effective.
"One more thing, I also proposed to build a resort hotel. Neither Yanjing City nor Guangdong City gave an accurate reply, but Shanghai City agreed. However, they did not agree to build a resort hotel in Puxi and could only let us choose one in Pudong. The place, I also took a look over there, it’s a bit desolate and it’s very troublesome for people in Puxi to cross the river.” Hu Yingxiang continued.
"Pudong? Can you choose a piece of land on the bank of the Yangtze River?" Chen Zhiwen asked.
"Yes, I went to visit the Yangtze River, but the economy in Pudong is much worse. Although there are a lot of people, they basically live in Pudong and go to work in Puxi. Overseas tourists who go to Shanghai also live in Puxi. More." Hu Yingxiang replied.
"It's okay. The transportation is inconvenient. Just get a ferry port. The location of the river mouth is very rare." Chen Zhiwen said.
"That's okay, but I'm worried that if a resort hotel like this is built and no one lives in it, it will be embarrassing," Hu Yingxiang said.
"This is not a problem. As long as it is luxurious enough, no one will live in it. The traffic can also be improved. But the location on the Yangtze River is eternal, especially the location opposite the Yangtze River in the bustling area of Puxi. It is definitely a chance. What cannot be sought is like the Harbor City over there, and this is the only place in Hong Kong." Chen Zhiwen pointed to the Harbor City on the other side and said.
The location of Harbor City is that it faces Central, the most prosperous area in Hong Kong. Through the large number of Star Ferry, it can easily attract the flow of people from the opposite side. This is the basis of high value. When Tsim Sha Tsui develops in the future, this place will be even more It is a golden holy land.
"It's right to think so. In Pudong now, as long as you have money and a project, you can get land, but in Puxi, it's a bit troublesome." Hu Yingxiang nodded.
"There are still too many people in Puxi. It is possible to build a building, but it is impossible to build a resort." Chen Zhiwen said with a smile. Being able to acquire a piece of land to build a resort next to the Yangtze River in Pudong, Shanghai, which will be the most prosperous in the future, is indeed a very good gain, and this is just the beginning. As Hu Yingxiang continues to be active in the mainland, there will be more and more high-return investments like this.
Of course, the returns from hotels are still limited. Even resorts only cover a few hundred acres. Therefore, there is no need for Chen Zhiwen to go out on his own and build hotels all over the country. This is not a big benefit. Taishan Club Just share it internally.
If you want to hoard land, the best way is to use large factories. For large food factories, electronics factories, etc., as long as the output can be large, it is not a problem to acquire several square kilometers of land at a time. It can not only create a large number of jobs, but also reduce the cost of Chen Zhiwen The cost of his properties can also generate a large amount of foreign exchange for the mainland. In the future, in a few years, he can enjoy the appreciation of land value, killing four birds with one stone. Of course, this kind of business belongs to him personally.
As Shanghai will be the most prosperous city in the mainland in the future and the economic center of the Yangtze River Delta, Chen Zhiwen naturally has investment plans, but things have to be done step by step, and it is unlikely that he will invest in so many cities in the mainland at the same time.
"So, can I also invest in Shanghai and build a Shangri-La Hotel?" Kuok Henian was a little moved after hearing this. He has always wanted to find opportunities to invest capital in Hong Kong, because this is the base camp of the Chinese, and it was difficult to pass the big hotel If you enter here after the acquisition, you may encounter a new real estate market crisis.
While he was worried about having no investment direction, Chen Zhiwen analyzed the future of the Shanghai Stock Exchange, which naturally interested him.
"Guo Sheng, not only Shanghai, but also other big cities, your Shangri-La Hotel can invest in it." Chen Zhiwen said.
"Won't it interfere with everyone's projects?" Robert Kuok asked.
"No, the domestic market is too big. There are so many big cities and there are too many hotels in need. If everyone wants to invest, everyone can invest in their own project. Even if it is a project that can only invest in one company, it is first come, first served. We As long as there are no conflicts within the meeting, it will be fine." Chen Zhiwen replied.
Taishan Club's investment will not interfere with the investment of each member. This is the most basic principle. As long as you are not stupid and open a highly competitive project like two hotels or supermarkets together, it will be fine.
If there are any large-scale projects in the future, such as super supermarkets and World Trade Center projects, he will also invest alone.
"Okay, if you want to involve me in your project, just tell me and I will invest in my Shangri-La." Robert Kuok nodded and said with a smile. Now he also feels that this Taishan will be fine, and he can know a lot of news in advance. , you can also join forces to fight against the enemy, and each can do his or her own thing when not needed.
"Does Mr. Bao have this idea?" Chen Zhiwen asked again.
Bao Yugang shook his head and said: "I'd better forget it. I don't know much about hotels myself, so I can just follow Taishan. If you need funds, just tell me."
"Well, Hu Sheng is also quite busy at this time. Since we have initially reached cooperation agreements with some domestic cities, we will send some professionals in this field to communicate with the mainland in the future. After we have preliminary results, we will discuss , how about it?" Chen Zhiwen continued.
"Okay, that's okay with me," Hu Ying said with a smile.
(End of chapter)
