My Age of Investment

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"I want to absorb Envision Securities (formerly Lehman Asia) into Envision Financial Holdings Group."

Xia Jingxing smiled at Chen Hong and said, "This may reduce your shareholding ratio."

"No problem, I agree! Originally, Envision Securities was escrowing it for you, but now its business is almost on track, and it's time to hand it over to you."

Chen Hong is very open-minded about share absorption and reorganization.

Because this is not the first time Xia Jingxing has done this.

Doesn't Hanergy's shareholding in Fuxing Mobile become a shareholding in Fuxing Industrial?

Although the shareholding ratio has decreased, the intrinsic value has actually increased, and he has no reason to object.

In the future, the two Korean game production companies he invested with Xia Jingxing may also be absorbed and merged into the domestic holding system.

Now that Envision Securities and AIA have reorganized into Envision Financial Holdings, they will inevitably become a new financial giant in the foreseeable future.

Xia Jingxing nodded lightly. He knew that Chen Hong would not object. He just mentioned it out of respect for the other party's shareholder status. .

He continued: "AIA was a leveraged buyout by us."

Chen Hong was not surprised by this. If he chose to acquire everything with his own funds, it would not be in line with Xia Jingxing's status as a financial giant.

"How much was the loan?"

Xia Jingxing gestured with two fingers.

Chen Hong frowned, "It's only 20 billion US dollars, can we borrow more?

AIA has a net profit of nearly 10 to 2 billion U.S. dollars every year. It has no pressure to pay the interest on 30 billion U.S. dollars of loans and will not affect the normal operations of the company.

After a few years, AIA's valuation increases several times, pushing the company to go public. If you transfer one-third or one-fifth of the equity, the entire loan principal will be paid off. "

Xia Jingxing smiled and nodded. The plan proposed by Chen Hong was a typical leveraged buyout method, but it was a bit difficult to implement.

“I would like to spend only three billion US dollars or less in acquisition principal, and the rest of the acquisition funds will be raised through loans and the issuance of corporate bonds.

But now the impact of the financial crisis has not completely passed, and various banks are unwilling or unable to support such acquisition plans.

Therefore, we can only take a step back and choose to acquire AIA with a plan of US$10 billion in principal + US$20 billion in loans.

AIA assessed the embedded value at just $20 billion, and the banks were pleased with the plan. "

Chen Hong nodded and then said with a smile: "That's not a loss. I originally said that it would take you several years to earn back the principal of the acquisition. Looking at it now, it will only take one or two years at most. .”

Xia Jingxing smiled slightly and talked about the bank again.

"I want to acquire a bank with business scope outside the mainland in the name of Envision Financial Holdings Group, and initially complete the financial industry layout of commercial banking, investment banking, and insurance."

Chen Hong was a little shocked, "Bank? Are you determined to be a consortium?"

Let me tell you, be careful of becoming like the Morgan consortium in the future, becoming Da Yuan and Xiao Yuan. "

Xia Jingxing smiled and said: "It's not that serious. I don't want to build a large financial holding group in the mainland. At most, I will keep various branches in the mainland. The main revenue comes from overseas markets.

Moreover, Envision Capital and Envision Financial Holdings are two equal companies and have no shareholding relationship with each other. They just have the same major shareholder. "

Chen Hong kept talking. He felt that Xia Jingxing's appetite was getting bigger and bigger, and he was targeting the world's top financial institutions.

"Who do you want to acquire? Citigroup?"

Xia Jingxing was amused, "I would like to buy Citigroup, but I have to be willing to buy it."

Chen Hong said calmly: "With the stubbornness of the United States, you cannot successfully acquire some core American companies. At most, you can acquire some abandoned or second-rate companies whose businesses are in trouble."

Xia Jingxing nodded with deep understanding, "Yes, I don't intend to become a fat man in one sitting."

"Do you have a suitable goal?"

After Xia Jingxing was silent for a moment, he asked, "What do you think of East West Bank?"

"Huamei? That bank mainly deals with business of Chinese and Chinese Americans in the United States?"

"Yes, their CEO Wu Jianmin and I are also old friends."

Chen Hong frowned and thought for a moment, then said: "Although the banking industry is in decline now, it is suitable for bargain hunting.

But the acquisition of a US bank does not seem to bring any strategic assistance to you or Envision Capital?

If we really want to acquire a bank, I suggest choosing Hong Kong banks and Southeast Asian banks for acquisition, which will coincide with the business of Envision Securities and AIA in Asia and play a strategic synergy. "

“Banks in Hong Kong and Southeast Asia will also be gradually identified in the future, but now I want to win a bank first and use this as a starting point to slowly expand my business around the world.

And it’s not called East West Bank anymore. It’s too limited. It’s called Chinese Bank.

Wherever there are Chinese people in the world, there are Chinese banks.

The footprints of Chinese businessmen are gradually spreading all over the world, and Chinese banks will become their loyal partners on the road to business.

Envision Securities and AIA can also follow this network to expand their business from Asia to the world.

Foreign banks and financial institutions followed strong ships and guns to the East, and then took root and became today's global financial giants.

We don’t have that opportunity now, so we can only follow the Chinese small businessmen to go to Europe, Africa, and Latin America with “Made in China”.

In the long run, if China's economy wants to reach a higher level, it must go abroad.

Envision Financial Holding Group can be regarded as responding to the national call and making arrangements in advance.

Our banks can provide deposit, loan and foreign exchange services to overseas Chinese, investment banks can provide consulting and advisory services, and insurance companies can also provide various insurance services such as financial management, property, and accident protection. "

Chen Hong nodded and said: "You have a good idea. Both Envision Securities and AIA have a good foundation in Asia, but if they want to continue to grow, they still cannot limit their business to a corner of Asia."

“Yes, and Fuxing Industrial has been trying to sell its products to overseas markets, and Vision Capital is also actively setting up new offices around the world.

A company going overseas alone is weak and not taken seriously by the local government.

But what if it’s a group of companies? Not only are they valued more, they also look after each other.

For example, overseas branches of Renaissance Industries and Vision Capital can transfer funds through our own banks, which is safer and more confidential. "

Speaking of this, Xia Jingxing remembered the sale of a chrysanthemum factory by an opium bank.

If you have a bank with branches in major cities around the world in your hands, you will undoubtedly feel more at ease.

Chen Hong said solemnly: "Since you have thought about it, just do it as you want. I don't have any objections."

"Okay, I'll arrange for someone to contact Wu Jianmin right away."

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