"Mr. Kiriyenko, I heard that due to the Asian financial crisis and the plunge in international oil prices, the assets of Rosneft have seriously deteriorated and fallen into a state of loss. Nearly 1/3 of the workers are unemployed, and the company has lost control of the assets of its affiliated companies. , how to solve the problem of losing control of company assets?"
Wang Dongming, who has followed Sun Jian for nearly ten years, would not think that on Sun Jian's whim, Rosneft, whose operating assets have seriously deteriorated, must work hard. If it predicts that international oil prices will rise, he directly goes long oil futures, increases leverage, does not worry, does not rush, on the computer If you can make a lot of money with just a few clicks of your fingers, there must be other factors involved.
"Please rest assured, Mr. Wang, as long as Mr. Sun is willing to invest, we promise to come forward to solve the problem and hand over a complete Russian oil company to Mr. Sun's operation."
Kiriyenko, who served as Federal Minister of Fuel and Energy, is very aware of the past and current situation of Rosneft. Everything was caused by the collapse of international oil prices, which caused the company to lack cash flow and had to suspend production and layoffs.
"Mr. Kiriyenko, how much funding will approximately be needed for HTIC to acquire 75% of Rosneft's shares? Does it require approval from the State Duma and the Federal Security Council?"
Before leaving, Sun Jian told Wang Dongming whether the temporary agreement to acquire equity must be approved by the Russian State Duma and the Russian Federal Security Council?
The Federal Security Council (formerly the KB) is the highest advisory body that provides advice and drafts documents on security decision-making.
In July 1998, Yeli Q was appointed chairman of the Russian Federal Security Council.
Sun Jian did not tell Wang Dongming that his opinion was particularly important in the acquisition of 75% of Rosneft's shares.
"Mr. Wang, the federal government's decision to sell 75% of Rosneft's shares has been provisionally approved by the State Duma and the Federal Security Council; although Rosneft's total assets are only US$495 million, it will be handed over to HTIC Holdings. In accordance with international practice, We want a premium of 20%, which is calculated as US$594 million, and 75% of the equity is US$445.5 million.”
Nowadays, no one is buying national debt, the rescue funds promised by the International Monetary Fund have not yet arrived, and the federal government has been unable to take the blame.
PJ, chairman of the Russian Federal Security Council, is not in favor of selling 75% of Rosneft's shares to foreign investors, but he is also aware of the current financial situation of the federal government, and it is currently unable to come up with funds to rescue Rosneft, which is in losses.
Yeli Q has agreed to sell Rosneft to solve immediate needs first, and then buy back the sold shares of Rosneft when he has money.
After two years of reforms, facts have proven that the "rest therapy" implemented by Russia has failed. Not only has it failed to bring the Russian domestic economy back to life, but it has caused the emergence of private gangsters in various industries in the country, soaring inflation, and the GDP has almost been reduced by half...
In 1994, the federal government was forced to announce that it would abandon "rest therapy" and return to a more prudent middle line, emphasizing the federal government's control over large enterprises and hoping that large state-owned enterprises would bring more fiscal revenue to the country and replace the original The large state-owned enterprises that were sold to private capital during the "Hugh K Therapy" were bought back at a high price. Although private capital made a lot of money after this setback, the domestic economy finally improved.
"Mr. Kiriyenko, can my team review Rosneft's assets?"
Although the Russian FBK Accounting Firm issued the assets audit report of Rosneft, which was reviewed by Deloitte Huayong Accounting Firm and issued a legally responsible audit report, HTIC Accounting Firm also has to review it again.
"Mr. Wang, yes!"
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Sun Jian walked out of the cabin, feeling a biting cold wind blowing. He involuntarily buttoned up his woolen coat, and the sky was gray.
Sun Jian had never been to Russia in his previous life, but he knew that Russia had a cold winter for one-third of the year. Fortunately, there was heating indoors. St. Petersburg, which is close to the Arctic Circle, did not see the sun for half of the year. The locals most All I want to do is bask in the sun, and go to sunny countries and regions as soon as I have a holiday.
Russian winter is cold and long.
On TV, Russians are more conspicuous wearing thick fur winter hats and traditional felt boots.
On October 19, Sun Jian, Chen Jie and others took a Cathay Pacific flight from Xiangjiang International Airport at 8:30 am. After flying for more than 9 hours, they landed safely at Moscow International Airport at 5:27 pm.
Wang Dongming and his party greeted him at the airport exit.
Sun Jian came to Moscow this time to sign the "Formal Agreement for HTIC to Invest US$1.24 to Acquire 25% Equity of Gazprom" and the "Formal Agreement for HTIC to Invest US$315 Million to Acquire 25% of Gazprom" with the Russian Government.
The original plan was to go to Moscow on the 12th, meet with Wang Dongming, and sign the "Formal Agreement for HTIC to invest US$445 million to purchase 75% of Rosneft's equity" with the Russian government. However, the plan failed to keep up with the change. No one expected it? Kiriyenko was dismissed on the 11th, and Yeli Q appointed Foreign Minister Primokov as Prime Minister of the federal government.
Based on the legal provisions passed by the State Duma in August that "general foreign investors shall not hold more than 25% of the shares in Russian enterprises", Primkov only agreed to HTIC investing US$124 million to purchase 25% of the shares of Rosneft. , as compensation, agreed that HTIC would invest US$315 million to purchase a 25% stake in Gazprom.
PJ also agrees with Primkov.
As long as more than 400 million US dollars can be obtained to alleviate the federal government's stretched finances and comply with legal regulations, Yeli Q has no objection.
After receiving a long-distance call from Wang Dongming, with disappointment and dissatisfaction in his words, a group of people worked tirelessly for four days, signed a provisional agreement, and paid a deposit of US$10 million for the share subscription agreement in accordance with the regulations. It was done, and they only waited for Sun Jian to come before came to sign a formal agreement. The acquisition of Rosneft was completed under his leadership, which would be a big deal in HTIC’s investment history. However, he did not expect such a result, and he was somewhat dissatisfied with the federal government’s back-tracking behavior.
Sun Jian had long been mentally prepared. HTIC, as a strategic investor, would be a good candidate for investing 25% of the shares of Rosneft. He did not expect that the other party would be willing to invest 25% of the shares of Gazprom, Russia's largest enterprise, in him. The other party also had Sincerity, rare opportunity.
Even if we get 75% of Rosneft's shares now, it is not in compliance with Russia's current laws and we will ask for it to be taken out in the future, which will hurt the feelings of both parties.
Wang Dongming was instructed to re-audit Gazprom and re-sign a temporary equity transfer agreement between the two companies with the federal government.
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