.Rebirth of 1990's official fortune   Volume 3  Storm and Clouds  Chapter 148  Reorganization

Chapter 148

Zhang Yanxiao saluted to his uncle. He put aside his identity and greeted his opponent sincerely. He respected both his opponent and himself.

Zhang Yuli stood up and her thin body trembled slightly. Zhang Yan hurriedly stood up and supported him and whispered: "Uncle, your body is important."

A trace of warmth flashed in Zhang Yuli's eyes. He stretched out his hand to touch Zhang Yan's head. He stretched out his hand and shrank for a while. His eyes had become sharper. He pushed Zhang Yan's hand away firmly: "No need. I'm not old enough to walk. Speaking of business wars, I already felt deeply before you were weaned. Are you still afraid that you would be a furry child?"

Zhang Yan was not angry and whispered: "Uncle. I just want to ask why Morgan Stanley must be so interested in a Beihai Bank. Is it my uncle's skill?"

Zhang Yuli smiled suddenly, stretched out her hand on Zhang Yan's head and didn't talk to Zhang Yan. She actually walked straight away.

At this time, Yan already knew it. If others might not be able to see the key points of his industrial chain. He just started to attack supermarket chains. In fact, these companies can only be regarded as Zhengrong's downstream companies. The effect of attacking this company is like hitting a snake to the tail. The way to hit the wrong side is to rely on the network all over the country. The competitiveness of these companies is already extremely strong. How brave Carrefour was finally admitted to failure and left China obediently.

My uncle's move is to hit the point directly. It seems that Jiang is still old. This move is really fierce. Once Beihai Bank changes hands, its liquidity will be greatly affected. The interest rate of lending is at least two percentage points higher. Don't underestimate these two percentage points. This is almost the dividing line between whether the supermarket is profitable.

Once the Beihai Bank is stolen, I want to see what the economic empire I created will become. Due to the decrease in profits, the originally prosperous Zhengrong system will gradually decline. Then it will fall to the bottom step by step. The huge system will fall apart and become the negative textbook of history.

Zhang Yan quietly pinched his hand. In no case, Beihai Bank could not be stolen by Morgan Stanley International as an important link in all its business chains. This is his own wealth and life. He will never give in. If he doesn't advance against the current, he will retreat. After taking this step, he will be a cliff behind him.

Come on, Damo. I know that you are capable of accepting the power of Zhengrong.

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Zhang Yan raised his hand and held the jade hand on the file and gently pulled it. He put it on his nose and smelled it. He said, "Even if you are ruthless, it will be touching. Yueru, you are really not as good as the world's temper." Since the last time you mediate family affairs, Zhang Yan has been unable to hold back this face. He simply shamelessly took Liu Yueru away. Liu Yueru was naturally surprised and half-supported. Others, except Xiaoyue, thought that they had not seen it. This person's lust and his hands became more and more frizzy.

After a while of warmth, Zhang Yan patted Liu Yueru's hand. The confused expression in his eyes faded away like a tide. He carefully raised the proposal proposed by Morgan Stanley. After reading for a while, he spread the documents and pointed to a place on the manuscript. "Morgan Stanley is so calculating. The US headquarters is already in full swing. Is there still leisure and leisure to spend the Raptors here?" Liu Yueru looked at the text above curiously and smiled: "It's so calculating. But this can't defeat you, right?"

Laughing and put Liu Yueru into his arms: "Xiaoru. Look at the black hole over there. It must be the thief's nest**. Wait for me to kill him and kill him cleanly."

At this moment, the phone rang. Zhang Yan just answered it for a few minutes and his face looked ugly. After a few words, his face turned completely dark. He put down all the calls. Liu Yueru asked with some concern: "Why? Are you so angry?"

Zhang Yan shook his head and said hatefully: "You have introduced overseas investors."

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The work of ICBC to introduce overseas strategic investors was finally completed the day before the 11th. It was almost the same as the arrangement ten months ago. The investment group formed by Goldman Sachs Allianz and American Express acquired 10% of ICBC's shares as expected on September 30 and became a shareholder of China's largest commercial bank.

The only difference is that the $38 price increase was 5% five months ago. Compared with China Construction and two banks, ICBC's financial restructuring introduced strategic investors and other periods. The story is even more tortuous. But the final result is that the very simple strategic capital will be completed by purchasing newly issued shares of ICBC. Goldman Sachs will dispatch a director. The social security fund that was previously approved to invest in ICBC for RMB 10 billion unexpectedly did not take any action.

Two weeks before the signing of the ICBC agreement, the Bank of China also finalized the last strategic investor, Temasek. The bid of four investors including Royal Bank of Scotland Bank of China was RMB 118. The price-to-book ratio was about 12. Last year, when the 8 Bank of America and Temasek acquired CCB, the bid was 115 times and 119 times the account price respectively.

However, it was revealed that the 10% equity division of the investment group was as follows: Goldman Sachs invested US$258 to account for 7%. Allianz invested US$1 billion and 25%. The remaining 05% of the shares of Yuntong purchased them for US$2.

All three investors have promised to cooperate with ICBC in its related fields. Among them, Goldman Sachs said it will assist ICBC in building a standardized corporate governance structure, improve risk management and internal control systems, and improve ICBC's financial innovation and product development capabilities in areas such as fund transfer asset management companies and investment banking business non-performing assets disposal.

Allianz and Express, one of the world's largest insurance companies and one of the most credit card companies, are focusing on cooperation with ICBC in the field of bank insurance business and in joint issuance of credit cards.

In addition, it was revealed that the guarantee of the terms of the three investors to the sub-aggregation agreement was not affected by the sudden deterioration of the work conditions. Therefore, the shares purchased by investors have a three-year "ban period".

This introduction method plus the introduction model of China Construction and the previous two banks will undoubtedly become a model of many introduction models in the future. The banking industry will be overwhelmed by a very low price. This is what Zhang Yan did not want to see. As expected, the conditions of Morgan Stanley International became harsh soon.

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"It's ridiculous. ICBC is only worth 38 yuan. What is the method of making this?" Zhang Yan threw the strategic partner cooperation script on the table. The new plan was small. It is the main function of a bank not lies in its outlets, nor in its total assets. It is about how much funds can be mobilized and how much profit can be obtained in this kind of mobilization. These are the basic conditions for judging whether a bank is excellent.

From this perspective, Beihai Bank, which can provide 150 billion yuan of funds annually and has a loan excellence rate of 98%. Beihai Bank, which has a 4-minute high annual income, is undoubtedly a Goldman Sachs. Although Beihai Bank is not as big as Goldman Sachs, in terms of proportion, it is not difficult for Beihai Bank to sell 10 billion yuan.

I wanted to go to Beihai Bank for less than one-tenth of the price. These people's plans were really smart. Zhang Yan closed his eyes and pondered for a while. He said to Liu Yueru: "Reply to Morgan Stanley International. He said that the equity situation of Beihai Bank is relatively complicated. Only after he has straightened out the problem of introducing partners."

"But it only took a while to say this. In the end, we have to face such a problem?" Liu Yueru didn't understand Zhang Yan's approach. In her opinion, Zhang Yan has always made perfect plans. But today's approach is a bit dodging. Isn't this just a sign of fear of Morgan Stanley? Isn't it just a waste of face when I'm aware of it?

"Wait until that time. I will solve it." Zhang Yan replied softly.

"Can you just use your rights to warn them a little?" Liu Yueru continued to ask without giving up.

"That's possible. If possible, no one wants to see the three major banks introduce foreign capital. But these three major banks have completed the introduction of foreign capital. This means that there is a force that is controlling this process. This power is so great that we cannot compete with, so we have to take a roundabout way..."

"What's the solution?" Yue Ru asked curiously.

"Keep confidential." Zhang Yan smiled and slapped Liu Yueru's buttocks and said, "Okay, don't ask women, be stupid and happy.

I like smart and ask questions."

Liu's face turned red. He lowered his head and walked away obediently.

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Zhang Yan's actions began after the National Day. Although Morgan Stanley was hit hard in the United States, it was unexpectedly welcomed in China. The power represented was unstoppable. If the positive competition was against it, it was not only difficult to say that it would win. The losses were definitely not small. However, the Beihai Bank was its own lifeline, but the other party was just a relatively important test. The difference between severity and seriousness must be observed. If administrative means are used to forcefully terminate Morgan Stanley, let alone how great success may be. The losses in open and secret will make Zhang Yan feel distressed.

In fact, after the first step of Beihai Silver Reform, things began to become complicated and interesting. In November 4, Liu Pengfei, then chairman of Beihai Bank, reported his work. It reflects that the situation of Beihai Bank is developing in a positive direction on the one hand; on the other hand, due to the heavy historical burden, it cannot solve the problem of Beihai Bank's capital adequacy ratio.

So Beihai Bank changed to this.

But the reform of Beihai Bank is not that simple. Because of the complex relationship between Beihai Bank and Zhengrong Group and the complexity of Zhengrong Group, the reform of Beihai Bank must also consider the reform of the group at the same time. The complexity of Zhengrong Group is more vividly reflected in its system. Some data show that in 19885, Zhang Yan founded China Zhengrong Group in Beihai, mainly supermarkets.

In the early 1990s, Zhengrong Group made strategic adjustments and began to tilt towards the manufacturing industry to the financial industry. This led to Zhengrong Group Co., Ltd. The Lightning Fund was established in 1996. It was a big hit in the financial crisis in Hong Kong. It was then frozen for several years.

In 1998, the Zhengrong Group made a relatively frequent and intense capital operation, and made a big profit in the Asian financial crisis, which made stronger growth in 1999. In 1999, the Rong Group adopted the measures of "mainly controlling industry and taking into account the main business of finance" and acquired and controlled Beihai Bank. Today, as the boss of the Zhengrong Group, Yan finally began the restructuring of Beihai Bank.

Regarding the restructuring of Beihai Bank, Zhang believes that there are at least "six complexities": one is the complexity of assets and business; the second is the complexity of institutions and equity; the third is the complexity of creditor-debtor relations; the fourth is the complexity of management system; the fifth is the complexity of personnel; and the sixth is the complexity of reform plan design. The complexity in Beihai restructuring also determines the difficulty of Hai restructuring. Any little detail in the restructuring may affect the process of restructuring. This is also the reason why this restructuring is so protracted.

In fact, no matter how complicated the relationship is, in the end, these relationships are all at Zhang Yan's hands. No matter how long the time is, it will not cause any losses. So Zhang Yan is not worried. If he can drag Morgan Stanley until he leaves, that is the best way. Although there is more victory or loss in the confrontation with Morgan Stanley, Zhang Yan does not want to face such a powerful opponent without any problems.

But if it can't be delayed, Zhang Yan still has a way to deal with it. That is, if the Zhengrong Group really intervenes in this way, Morgan Stanley will really have no interface to intervene in the restructuring of Beihai Bank.

The fact is just like what Zhang Yan thought. After another ten months, Daji still had no intention of giving up. In this case, Zhang Yan didn't start to act like a fake and put Beihai Bank into the scope of the Zhengrong system.

0585. The Beiban restructuring plan, which has been revised several times, was approved by relevant departments. The plan requires the reform and restructuring of Beihai Bank. The establishment of China Haibank Co., Ltd. through market-oriented parties, centrally dispose of non-performing assets, timely introduce strategic investors, optimize the equity structure, and publicly list at the right time. The same plan clearly defines the restructuring form of Zhengrong Company's investment and controlling Beihai Bank on behalf of the state. In fact, this is not only the beginning of Beihai Bank's reform, but also a signal that my country's banking industry reform launches an offensive to the "last fortress".

From April to November, the restructuring of Beihai from 0585 was approved by the state for a full 10 months. During this period, a considerable period of time was entangled in the capital injection of Zhengrong Company. Therefore, from this perspective, the infusion of Zhengrong Company is of absolute breakthrough significance for the restructuring of Beihai Bank. The breakthrough of Beihai Bank's restructuring is also a major breakthrough in the restructuring of the entire Zhengrong Group. The significance is extraordinary.
Chapter completed!