Rebirth of the World’s Richest Man

Chapter 2931 Alternative Acquisitions

Although Yingjun Group’s acquisition seemed like a joke, Phoenix Investment on Luofu Automobile took it very seriously. Now Luofu Automobile is a black hole.

They all want to get rid of them.

 First of all, the 45 model of Luofu Motors and Honda only had intellectual property disputes, because it was a copy of Honda's model at the time.

The other thing is that there is still a deficit of 200 million pounds on the books. Finally, it still owes 400 million pounds to BMW. The other thing is the issue of workers’ pensions.

With this calculation, it is actually not difficult to understand why BMW returned the Luofu at the price of one pound, because it was a total loss in hand.

What is left of Luofu Automobile now? It has eight series of models that are still best-sellers in Ouzhou, two models under development, several production lines, and intellectual property rights for equipment and engine technology.

This is what is left of Luofu Automobile. Is it useful and how useful is it? BMW sold it to Phoenix Investment Group for one pound.

  Naturally, it’s because BMW can’t use it because they have their own technology, but this is different for other companies.

People from Yingjun Group were sitting in the conference room, drinking coffee leisurely, waiting for the time to come. At the same time, people from Yingjun Group were constantly coming in and out of the Phoenix Group's conference room, bringing various things to the acquisition team in the conference room. intelligence.

 For example, the company's operating status, losses, financial status, workers, technical equipment, intellectual property, best-selling models, market sales, etc.

 In fact, this should be done during due diligence and asset evaluation during normal acquisition procedures, rather than something that is learned only when sitting at the negotiation table. But there is no way, who told the order from Xiangjiang to be like this.

 When doing business, many times it has its own set of rules, and there are also some industry standards. But for some things, it doesn’t mean that the industry standards are what they are.

 The boss is the absolute controller of a company, especially when he has absolute shares and controlling rights. In many cases, he is above some rules.

For example, some of Jiang Xiaobai’s investments, such as due diligence and asset evaluation, are all to help private enterprises. You can give them as much money as you want.

The same is true for Yingjun Group. When Mr. Luo, the anchor and founder of Yingjun Group, issues such an order, he can disregard all rules and act.

 In one day, when acquiring a century-old automobile company, there is not even time to do due diligence, and the assessment of the assets is not clear. There is no time at all.

There is not even time for negotiation. To say that this is the most difficult large-scale acquisition they have ever done, it is indeed the most difficult large-scale acquisition. To say that this is the easiest large-scale acquisition they have ever done, it is also the easiest. Once, after all, it only took one day to decide whether the acquisition was successful or unsuccessful.

Time passed little by little, and the people in the acquisition team sitting in the conference room were still chatting and laughing, without any pressure at all, because to them, this acquisition seemed like a bit of a joke, and it did not reflect their efforts, nor did it reflect their hard work. There is no sense of achievement, and there is no sense of frustration if you fail.

 So everyone is more relaxed, but Luofu Automobile is different. Phoenix Investment has long wanted to get rid of this burden, but it was just because of the price several times. It was finally sold to BMW before, but BMW did a lot of work and split it up and then sold it back. Now there are people who are willing to take over. Of course they are willing.

 But how to determine the price is another matter. Some people say that it needs at least 100 million pounds to be worthy of the Rover name.

 Some people say that Rover cars are worth 500 million pounds.

Some people say that fifty million pounds is enough. Just make some money. The first and most important thing is to get rid of this burden. The most important thing is to have someone to take over.

Some people also proposed to transfer it to Yingjun Group at the price of one pound. After all, this is an overall acquisition. Now Luofu Automobile is a hot potato. Although it has some assets, such as several series of best-selling cars, such as complete sets Engine technology, such as some information, such as equipment and so on.

But compared to the situation on the books, these assets are not worth mentioning. First of all, the car has suffered an overall loss. In addition, it owes BMW several hundred million in foreign debt. This low-interest loan still needs to be repaid. In addition, There is a dispute with Honda regarding some car models.

There are so many workers' pension issues and so on. If the company is kept in hand, it will lose money every day. It is not a matter of making money, but if this negotiation fails, then Luofu will have to be kept in hand and wait. We have been losing money, and what everyone is most afraid of now is losing money.

This Luofu Automobile is simply a bottomless pit. When it was in the hands of BMW, BMW lost billions of dollars in a few years and delayed the launch of the X5.

So now that someone is willing to take over, he must first ensure that he can take action.

After all, the Yingjun Group's acquisition is like child's play. It takes one day to acquire it. There is not much sincerity in it at all. It is just like a joke. What if you ask a high price and people are not willing to do it?

 A group of people were discussing nervously in the conference room. The Rover car failed to escape several times, which made the people of Phoenix Investment Group very worried.

Opinions were soon unified, and in the end there were only two choices. Some people were in favor of a price of 50 million pounds, and the whole package was sold to the Yingjun Group. Some people thought of selling it to the Yingjun Group for a symbolic price of one pound.

The two sides were arguing and each had their own opinions. The price of 50 million pounds was not expensive, but at least after the Rover car was in their hands, they made money.

 As a businessman, if you don’t make money every day, you are losing money.

  But some people think that in this business, as long as it does not lose too much, it will be considered a profit. After all, this Luofu car is a bottomless pit. The day it is dealt with early, the day it will be made is money.

By ten o'clock in the evening, a group of senior executives were still arguing in the conference room, trying to convince each other. Finally, it was the boss of the Phoenix Group who finally came forward to finalize the decision, leaning towards the latter, which was to use a symbolic payment of one pound. Price, sell the bottomless pit of Luofu Automobile to Yingjun Group.

 (End of this chapter)