My Age of Investment

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While Xia Jingxing was troubled by household chores and the division of Facebook shares, Chen Hong made great progress in his work in Pengcheng.

Texas Pacific Group and CICC, one of which has been on Wall Street for a long time, and the other of which is a domestic securities firm, both know the strength of Envision Financial Holdings and its ambition to become bigger and stronger.

They sent an acquisition invitation to Envision Financial Holdings. They were originally dissatisfied with Ping An's quotation plan and wanted to see if they could introduce a third party to participate in the bidding. Unexpectedly, Envision Financial Holdings actually sent someone.

Now that everyone is here, let’s talk.

Chen Hong and the negotiation team were taken to the hotel by Texas Pacific Group and the seller's consultant CICC, and then secret negotiations started in the hotel.

After some testing, both parties quickly grasped the other party's bottom price and intentions.

Texas Pacific Group was affected by the financial crisis and the large-scale flight of foreign capital from Chinese banks. It had no intention of operating or holding shares in Pengcheng Development Bank. It wanted to sell its shares at a good price and settle down.

At the same time, Texas Pacific Group is not a fool, on the contrary, it is very greedy.

Nearly three years ago, Ping An, which was trying to create a tripartite model of insurance, banking and investment, set its sights on Pengcheng Development, a national bank license, and contacted Texas Pacific Group.

This group of Americans offered to acquire the company at twice the premium, but Ping An refused without even thinking about it.

Then the global financial crisis broke out, and major Wall Street banks and investment companies were quickly liquidating their shares in Chinese banks.

When Texas Pacific Group saw this situation, it panicked a little, for fear of losing its shares.

So more than a year ago, I started to look back and approached Ping An to renegotiate the acquisition of shares.

The situation was reversed in an instant, and this time it was Ping An's turn to take action.

Of course, it's not that Ping An doesn't value this banking license, it just doesn't want to be taken advantage of.

Therefore, they hired Goldman Sachs Gao Hua, Goldman Sachs' joint venture investment bank in China, as a consultant and spent more than a year in back-and-forth negotiations, wearing down Texas Pacific Group's patience.

Faced with Ping An's moves, Texas Pacific Group did not resist.

CNOOC, China Mobile, and China Development Bank all had scandals with Pengcheng Development Bank, but the transactions eventually fell through.

In desperation, Texas Pacific Group almost gave in, but who knew that Cheng Yaojin would appear halfway through.

Chen Hong has a heavy responsibility, and he knows that Xia Jingxing is determined to win over a domestic bank as a foothold for the development of the domestic financial holding industry.

But he can't be regarded as a big scapegoat!

After the talks collapsed eight times in a week, he finally failed to walk out of the hotel door.

Every time he walked to the hotel door angrily, he would be persuaded to go back by CICC staff.

The people at CICC are also in a dilemma. The work of serving people at both ends is really not done by humans.

The Americans say that they are in the same group as Envision Financial Holdings, and they receive seller’s advisory fees, but they work as buyer’s advisors;

Envision Financial Holdings said that they were aiding the evil deeds. As the grandson of China Investment Corporation, they helped foreigners suppress national financial companies.

The staff of CICC became rats in the bellows. They suffered from both sides, but they had to swallow their anger to maintain the situation to prevent the talks from collapsing.

In this way, with the efforts of CICC, the negotiations between Texas Pacific Group and Envision Financial Holdings became smoother and smoother, getting closer and closer to success, with only one last tremor left.

But this shiver could not come out no matter what.

Against this background, Chen Hong called Xia Jingxing for the first time and informed the latter of the negotiation progress of Pengcheng Development Bank and his assessment of the base price of Texas Pacific Group.

“They really want to sell these shares and are already a little anxious.

I want to wait for a while longer, but I am a little worried about Ping An's movements.

If Ping An acquires Pengcheng Development Bank before us, our work will be in vain. "

Chen Hong was sitting on the sofa in the hotel suite, holding a mobile phone in one hand and a pen in the other. A piece of white paper on the table was filled with dense data.

Xia Jingxing on the other end of the phone pondered for a moment, and then replied decisively: "We can't be cut off by Ping An. We might as well give in to the offer of several hundred million more...anything within one billion will do."

Chen Hong said with a smile: "I know not to worry about everything, but to consider the strategic role of Pengcheng Development Bank.

But I am worried that after these Americans get our final offer, they will change hands and hand it over to Ping An.

I can even conclude now that they have not terminated negotiations with Ping An.

While talking to us, while talking to Ping An, the snipe and the clam are fighting, and the fisherman is benefiting. "

"This kind of thing is so normal!"

Xia Jingxing said with a smile: "But you are right, we cannot be used as a knife by Americans.

Your attitude should be tougher, and you should act like you will break up in one fell swoop.

Americans are all paper tigers, and Ping An, as a listed company, will be wary of bidding and dare not create too much goodwill due to mergers and acquisitions. We are a privately held company, and our advantage lies with us. "

Seeing Xia Jingxing's confident look, Chen Hong was a little worried that the boat had capsized in the gutter.

But being manipulated by the Americans is something he never wants to see.

In the final analysis, there is still a tough psychological game to play.

Thinking of this, Chen Hong decided to tell the ugly story first, "If the merger fails..."

Xia Jingxing knew what Chen Hong was worried about, so he interrupted with a smile: "If you fail, you will fail. There is no 100% success rate."

After giving Xia Jingxing the vaccination, Chen Hong was completely relieved of his psychological burden.

He stood up, opened the door, and met his subordinates who were waiting in the corridor outside. The group of people walked toward the hotel conference room in a hurry.

…………

…………

In Shanghai, after Xia Jingxing hung up the phone, he temporarily put aside the matter of Pengcheng Development Bank. He called Deng Yuanyun and began to discuss with him the establishment of a Semiconductor Industry Association.

“The country established a semiconductor industry association in 1990, and government-owned enterprises such as Huahong and Huada Electronics, as well as many scientific research and public institutions are members of the organization.

Now we have formed another team, and it is also a national organizational unit. Wouldn’t it be bad? "

Although Deng Yuanjun's reminder was rather subtle, Xia Jingxing still understood what he meant.

Xia Jingxing said with a smile: "Our association is different from theirs. They are regular troops, while we are a militia with seven or eight guns.

Our association is mainly composed of private enterprises, and more of them are start-up companies.

There is only one purpose, to integrate resources and better develop China's semiconductor industry. "

Deng Yuanjun said with a troubled expression: "Mr. Xia, others may not think so!

Do you think we are forming some kind of interest alliance to suppress non-revival semiconductor companies? "

Xia Jingxing spread his hands and said, "I am not the president of this association, and I am not really seeking personal gain for myself, no matter what others say.

The mouth is on them and they can say whatever they like. "

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