My 1999

"Your son is about to tear the house apart!" Qiao Yuhui said with overwhelming energy.

"Yesterday, he used his toys to smash the TV screen at home. This is the third time this month that I have replaced the TV.

Also, the day before yesterday, when Sister Xu was not paying attention, she sneaked into my room and locked the door.

People outside were worried, but inside this little brat had stolen all my cosmetics.

Not to mention other things like drawing on the wall, throwing dishes and chopsticks on the floor, tearing up books..."

Xu Liang smiled and hugged her slender waist, "Xiao Jinzi is three years old. He is a lively and active age. These are normal."

She gave him a big eye roll and said, "You don't have to look after the child. Of course you think it's normal. I'm almost pissed off by this little brat. He's not obedient at all. He tells him to go south and he goes north, and he tells me what he wants when I ask him to read. Watch cartoons.

I've never seen such a bargain, I'm sure it's up to you. "

"Yes, yes, follow me. I'll beat him up when I get back later to vent your anger."

"No, I am the only one who can beat my son, no one else can."

"I'm his father."

"Not even dad."

Seeing her protecting the calf, Xu Liang couldn't help but laugh.

"You were so angry just now, now you can't bear to do it anymore."

"He is the flesh that fell off my body. Of course I feel pain."

"Beware of a loving mother who often loses her son."

"Don't worry, if he commits a principled issue, I will definitely beat him."

"What is a principled issue?" Xu Liang asked with a smile.

"Cheating, stealing, bullying the weak, etc. And I have hired the world's top child psychology experts to pay attention to my son's mental health in a timely manner.

The situation you mentioned will never happen. "

"As long as you know what's going on. The child is still young, so don't be too harsh."

"Um."

The two chatted about the children and soon arrived home.

"Son, daddy is back."

Xu Liang shouted happily.

Soon I saw a little guy wearing a Sun Wukong jacket and black pants, with a tiger-like head and a tiger-like head, rushing out of the corridor.

I saw Xu Liang standing in the hall.

He rushed forward excitedly.

"dad."

Xu Liang picked up his son, kissed him a few times, and put him on his shoulders.

Seeing the father and son laughing and playing non-stop, Qiao Yuhui next to him also had a happy smile on his face.

After playing with the children for a while, I went to the children's room to see how many little ones were left.

They are less than a year old, but they are already crawling very smoothly.

After dinner together in the evening, we took Qiao Yuhui and Zhang Junning to exercise together.

They haven't been together for a long time, and both women are very proactive.

But his combat effectiveness is still not as good as that of Xu Liang, a pervert.

After a few rounds, he trembled and surrendered.

Seeing that it was getting late, Xu Liang did not go to the study again.

I took the two women to freshen up briefly and slept until dawn.

the next day.

After breakfast, I went to the study room.

"Is there any news from Yingbo?" Xu Liang asked.

Years ago, he negotiated with InBev in Brazil to jointly acquire Anheuser-Busch. The other party said they would consider it, but they never got back to him.

He sent an email to Qiao Yuhui about this matter, asking her to pay attention to it.

It’s been half a year now.

"InBev is indeed negotiating with Anheuser-Busch, but they have not responded to our invitation for a joint merger."

Xu Liang decided after thinking about it briefly.

"Make a direct offer to Anheuser-Busch to intervene in this acquisition."

Qiao Yuhui: "You want to force Yingbo to compromise with us?"

Xu Liang nodded.

“As long as the people at Anheuser-Busch are not stupid, they will raise the price, play both sides between us and InBev, and increase the quotation.

With a target worth hundreds of billions of dollars, any increase would be a huge sum of money.

It's hard on InBev and on us.

So sitting down and talking is the only option. "

Qiao Yuhui hesitated for a moment, "Can we give up Corona, a subsidiary of Anheuser-Busch, and instead acquire SABMiller?"

SABMiller is the second largest beer group in the world after Anheuser-Busch.

It was formed in June 2002 through the merger of South African Beer (SAB) and Miller Beer of the United States. SAB acquired Miller Beer for US$5.6 billion, becoming a super giant with an annual production of 12 billion liters of beer.

Among them, South African beer accounts for nearly 70% of the South African beer market, and its low-end market share once reached 93%, making it the undoubted dominant player.

Miller Beer was founded in 1855 by Frederick Miller.

In 1969, tobacco giant Philip Morris, which owns famous brands such as Marlboro and Kraft).

Threatened by the growing "anti-smoking" movement, in order to diversify business risks, he decided to enter the beer industry.

After acquiring the Miller Beer Company, Morris sent top tobacco marketing experts to the Miller Company, made fundamental adjustments to the marketing strategy, and was determined to create the "Marlboro" of beer.

After conducting market research for nearly a year, the company segmented the beer market by usage rate and divided beer drinkers into light users and heavy users.

Although there are many light users, their total drinking volume is only 1/8 of that of heavy users.

Miller Beer has developed three different brands: "High Reef", Light Beer (also known as "Wright") and "Old Wember", targeting heavy users, health-sensitive customer groups and premium beer respectively. market.

In the 1970s, Miller's marketing achieved great success.

In 1978, the annual sales volume of "Hai Leif" reached 20 million boxes, second only to "Budweiser" owned by Anheuser-Busch.

In 1980, Miller's market share in the United States rose to second place.

While Miller is known as the "Taste of the Century", it is also known as the most innovative company in beer marketing.

However, people are not as good as a thousand days, and flowers are not as beautiful as a hundred days.

After entering the late 1980s, the United States increased alcohol taxes in response to drunkenness laws, and consumers' health awareness continued to increase, causing the growth of American beer production to slow down.

From 1990 to 1995, beer sales in the United States continued to decline by 4 percentage points, falling to 21.7 million tons, and per capita beer consumption also decreased from 90.5 liters in 1990 to 82.5 liters in 1995.

Generally, when an industry goes down, there will be drastic mergers and acquisitions.

Reduce procurement costs and increase industry share.

The beer industry is no exception.

20 years ago, the world's top 30 brewers accounted for more than 50% of the global market share.

By 1996, the market share of the world's top 10 brewers exceeded 45%.

It is against this background.

South African Beer and Miller Beer hit it off and combined to form the second largest beer giant in the world.

Xu Liang smiled and said, "You have a crush on Miller?"

"Miller holds 49% of Snowflake's equity. After we acquired Snowflake, this equity was exchanged for the equity of Kanghua Beer, and the two parties also had contact.

The other party is very optimistic about the development of the Chinese beer market.

Kanghua is the largest beer group in China, and there are no strong competitors like InBev around it. As long as the conditions are right, I believe they will not refuse.

Moreover, Miller Beer Group is the largest beer giant in the United States after Anheuser-Busch. It also occupies a certain market in the beer markets of European countries such as the United Kingdom, the Czech Republic, and Slovakia, and is the beer overlord in South Africa.

Once acquired, we will be able to use Miller's channels to complete our layout in major global markets.

There are more benefits than simply acquiring Corona. "

Xu Liang smiled and said: "You are quite ambitious."

"This is what you said, let me establish a global perspective. When entering an industry, I must aim for the top positions."

He did say that.

"Have you really decided?"

Qiao Yuhui nodded.

"Then let's start preparations for Miller, but we will first do preliminary research this year and next year, as well as later integration plan research, and put aside the specific acquisition first."

Qiao Yu will agree quickly.

After New Century Financial disclosed its losses, the U.S. subprime mortgage market is now in a strange state, and it seems that there are already signs of collapse.

Once subprime mortgages collapsed, an economic crisis followed.

At that time, global assets will depreciate.

It's time to buy the bottom.

"How much profit did the CDs handed over to you make?" Xu Liang asked.

In order to distract the attention of the outside world as much as possible, Xu Liang dispersed more than half of the hundreds of billions of US dollars in subprime debt CDs raised by Hongyan Fund in the past two years to all the companies he controlled.

Kanghua Group, as a first-tier group under the Xu Group, has purchased tens of billions of dollars in CDs, standing on equal footing with Hongmeng, Taihua, and Fengsheng Agriculture.

Even Hynix, Seibu, and Vidywang are worse than them.

Qiao Yuhui's face showed joy, "The profit has been 23%, do you want to close the position?"

"Close the position? No, no, it's still very early. Hold it carefully. I will notify you as soon as possible when the position needs to be closed."

"Um."

After asking about the development of Zhang Junning's 'Guowu Sports Group', the two of them left to go to work. Xu Liang also went to the headquarters of Hanhua and Hongyan.

"Mr. Xu, this is the invitation letter I just received. ... In three days, Rongsheng Petrochemical will be listed in Xiangjiang. Hanhua is the main underwriter and would like to invite you to participate."

He took the document from Li Jinling's hand and briefly flipped through it.

"Did Rongsheng Petrochemical just sign a fuel supply agreement with Unocal?"

Li Jinling nodded.

Unocal wants to develop its gas station business in the country.

In addition to CNOOC and Sinochem, it has also signed oil supply agreements with six or seven other petrochemical companies.

Rongsheng Petrochemical is one of them.

"Promise."

"OK."

Unocal's gas stations are not only related to the construction of Unocal's downstream channels, but also related to the future layout of electric vehicles, which Xu Liang must also take seriously.

——

Three days passed quickly.

Xu Liang got up early and practiced martial arts step by step. After having breakfast with the two women, he set off from home and took a bus to No. 8 Connaught Place in Central.

This place, also known as Exchange Square, is the office of the Hong Kong Stock Exchange. It is next to the ‘Hanhua International Center’ where the Hong Kong Island office of Hanhua is located.

As soon as you walked into the trading hall, you saw nearly 300 workstations arranged in a ring. The scene was grand, as if you were in a stock trading scene in the last century.

There is a computer and a landline phone on each workbench.

Staff members wearing red vests sit in the back.

There are several color screens hanging in the center of the hall, forming a ring, playing trading data in a loop.

Many scenes of the Hong Kong drama "Big Times" were shot in this trading hall.

At that time, it was still the era of manual stock trading. The landlines on the trading desks kept ringing, and stock brokers in red vests were busy shuttling between them, becoming a beautiful landscape in the Hong Kong stock market.

At its peak, the trading hall of the Hong Kong Stock Exchange had an area of ​​4,180 square meters, as large as ten basketball courts, and thousands of stock brokers worked here.

But since the 1990s, with the rapid development and popularization of electronic trading, the demand for trading counters at the Hong Kong Stock Exchange has also begun to decline.

Last year, the Hong Kong Stock Exchange renovated the trading hall, reducing the area to one-third of its original size, and now there are less than 300 trading counters left of nearly a thousand.

In addition to being used for meetings and activities, the other two-thirds of the space also built an exchange exhibition hall to introduce the history and development of the exchange to the public.

Xu Liang remembers that ten years later, the trading hall was completely reduced to history, all counters were cancelled, and all turned into museums and exhibition halls.

This is also keeping up with the times. Now all major funds and investment companies are trading and buying and selling stocks in office buildings through the Internet. Who would go to the lobby to buy stocks?

Under the guidance of the staff, Xu Liang walked into the lounge next to him.

This is also the space renovated from the trading hall, where companies that ring the bell for listing can accept media interviews, hold meetings and rest, etc.

"Mr. Xu..."

Seeing Xu Liang appear in the lounge, Li Huorong shouted and walked towards Xu Liang with a smile.

Today, this veteran in the petrochemical industry, wearing a high-end suit, a small red flower on his chest, his face was full of red.

The excitement in the corners of his eyes and eyebrows almost overflowed.

But it is understandable.

Nine and a half of ten people start a business and want to send the company to the market.

Now that it has succeeded, it is naturally happy.

Xu Liang smiled and shook hands with Li Huorong: "Mr. Li, congratulations. Rongsheng Petrochemical rang the bell for listing, and I came back from the United States to congratulate you."

"Mr. Xu is thoughtful. Today is not only a happy event for me, Li, but also a happy event for Hanhua."

Li Huorong glanced at the shareholders behind him, waved his hand, and said in his Zhejiang accent in Mandarin: "It is also a happy event for all shareholders."

Hearing this, everyone in the room, whether standing or sitting, applauded.

Xu Liang glanced at these people, including people from law firms and clubs such as PricewaterhouseCoopers, Morrison \u0026 Foerster, and Zhonglun, as well as several institutional shareholders such as Warburg Pincus, Value Partners, and SAIF Partners.

Noticing Xu Liang's gaze, a middle-aged man wearing a silver-white Armani suit and meticulously groomed hair smiled and greeted him.

"Mr. Xu, I haven't seen you for a long time."

"It turns out to be Mr. Yan. I heard from Mr. Sun that you resigned?"

Yan Yan smiled and nodded.

"I left Softbank SAIF last year."

Softbank entered China very early.

Softbank China was established in 2000, which is responsible for Softbank's strategic investment layout in China, Hong Kong, Macao and Taiwan.

Softbank Asia, where Yan Yan works, is also called Softbank SAIF. It was established in 2001. It was jointly funded by Softbank and Cisco of the United States, and is mainly used to invest in enterprises throughout Asia.

Softbank and Hanhua are both investors of Alibaba, so Xu Liang has met with each other several times, but the relationship is not very familiar.

The last time I had dinner with Masayoshi Son in Japan, I heard him mention this matter.

I was quite sorry for Yan Yan's departure.

Later, Xu Liang tried to get Hanhua to poach him.

In the venture capital industry, such experienced investors with extensive connections are rare talents.

Unfortunately, he was rejected by the other party in the end.

Although it didn't work out, he also learned the reason for the other party's resignation.

Several Chinese directors of Softbank SAIF wanted investment decision-making power, but Masayoshi Son and Cisco were unwilling to give it.

They went solo when the second round of fund raising was underway, and SoftBank Group founder Masayoshi Son also withdrew from SAIF.

It was equivalent to the seven Huaxia partners headed by Yan Yan doing MBO on SoftBank SAIF. Now the industry generally calls it SAIF Fund because it has no relationship with SoftBank.

Some people still call it SoftBank SAIF, but Yan Yan and his team are too lazy to correct it. Isn't it better to get free money from Masayoshi Son?

SAIF's second round of fund was not small, raising 640 million US dollars, which was also ranked among the top in the domestic venture capital industry at that time.

The reason why Masayoshi Son left, but some people still believed in the Huaxia team headed by Yan Yan and were willing to invest in them was because they had a well-known case in their hands.