Rebirth of the Strongest Tycoon

In order to acquire a 55.7% stake in Wheelock Shipping Company, Australia Toll Company spent a total of 8.71 billion Hong Kong dollars, equivalent to 1.428 billion U.S. dollars.

However, the acquired Wheelock Shipping Company was suspected of financial fraud, and the actual loss was as high as 75 million US dollars!

And the shipping business has reached the tipping point of assets and liabilities.

In the long run, Wheelock's share price is bound to slump.

Toll's international investment was horribly wrong, with a loss of $968 million and a serious impact on the company's reputation.

Shares in Toll plummeted after the news came to light.

One of the top ten accounting firms involved, Dannster Accounting Firm, has suffered serious damage to its reputation.

Just when the outside world was shocked by the news of Toll.

Downstairs at the Westpac Bank headquarters, three cars came, and then a group of people walked out and entered the building under the personal reception of Westpac Chairman Miro Knox.

After the group came upstairs, it was divided into two parts.

Among them, Stanny Kelson, vice president of Bright Fund and president of the Australian branch, and Milo Knox entered an office alone.

During this time, Milo Knox was tormented and haggard, and one or two could be seen from his somewhat withered face.

"President Kelson, why are you coming to our company?"

Milo Knox stared at Stanny Kelson and asked nervously.

After receiving the invitation from the Bright Fund, Milo Knox was also frightened. It was true that Westpac Bank had reached its limit and could not stand the toss of any large institution, so he could not wait to hide during this time. these large foreign institutions.

As soon as the greeting was delivered to the door, he had no choice but to bite the bullet and greet him.

Stanley Kelson said with a smile, "President Knox, I'm here to save the Knox family and Westpac Bank."

As soon as these words came out, Milo Knox only felt blood rushing up, it was really too ugly.

For a moment, his heart kept sinking, and he began to plan for the worst.

"President Kelson, we in Westpac are doing well now, and our Knox family is also doing well. You must be joking."

Milo Knoxpie replied with a smile.

Stanny Kelson shook his head and said loudly, "No no no, I never like to joke, I'm a very practical person."

"The Westpac crisis was hidden from ordinary people, but not from us."

"Westpac is on the verge of bankruptcy, and that's more than I can see."

"I am indeed here to save the Knox family. If you sell me the stake in Westpac, then any crisis in Westpac will have nothing to do with you."

Milo Knox said with a livid face: "Impossible, the equity held by our family will not be sold, and Westpac Bank will not go bankrupt. President Kelson, please come back!"

Saying that, Milo Knox also made a gesture of seeing off.

But Stanny Kelson still didn't get up, but the smile on his face disappeared.

Shame on the face, then Stanny Kelson will not be polite.

His eyes were sharp as a knife, looking directly at Milo Knox, and said with a sneer: "President Knox, as far as I know, Westpac sold a total of $5.5 billion in forward foreign exchange contracts to Bridgewater Fund. and Tiger Fund, and then lent $6.3 billion to other institutions, of which Tiger Fund and Bridgewater Fund alone add up to $5.2 billion."

"Now the Australian dollar exchange rate has fallen by a third, and your bank has lost more than 3.7 billion Australian dollars in these two businesses!"

"Now that the Australian stock market and bond market have plummeted, the mortgage equity assets of the major companies held by your banks have all shrunk, and they have definitely become bad debts."

"Besides that, as far as I know,

Westpac is Toll's biggest financial backer in its takeover of Wheelock Shipping. "

"Because of Toll's special relationship with you, Toll used a leveraged buyout for this acquisition, with a leverage ratio of up to 20 times, and it only used $42.5 million, while the $807.5 million in capital was It's from Westpac."

"Now the Wheelock Shipping Company has exploded, and the shares of Wheelock Shipping Company mortgaged in your bank have depreciated severely."

"You said, if all this information was made public, what would investors and savers do?"

"Will Westpac's capital chain be run and broken, and the bank will go bankrupt?"

This series of words were like sharp knives, stabbing straight into Milo Knox's heart, turning his face pale, and looking at Stanny Kelson with horror in his eyes.

This is Westpac's secret, he actually knows it!

The Bright Foundation is allied with them!

"You...you..."

Milo Knox pointed at Stanny Kelson, trying to say something but couldn't say anything, only gasping for breath.

"President Knox, fortunately, these news have not been exposed for the time being. The equity held by your family is still valuable. Do you think I am helping you by taking over the equity held by your family and taking risks for you? "

Stanny Kelson said softly.

But these fluttering words came into Milo Knox's ears like hellish words.

This is a blatant threat!

However, he dared to be angry and did not dare to speak, and the only remaining reason told him not to turn his face.

In an instant, the room fell silent, only the sound of heavy breathing could be heard.

Stanny Kelsen just looked at Milo Knox so quietly.

Nearly ten minutes passed.

Milo Knox gradually calmed down and accepted this cruel and ruthless reality.

He asked in a hoarse voice: "Our family holds a 19.4% stake in Westpac, how much are you going to pay?"

Stanny Kelson showed a smile and said lightly: "A $100 million."

Milo Knox said with blue veins on his face: "Impossible, it's too low, this is an insulting price, I'd rather the bank fail and I won't sell it!"

Now the exchange rate of the Australian dollar has collapsed, and the conversion of 100 million Australian dollars into US dollars is only about 60 million US dollars.

According to the 19.4% stake held by the Knox family, Westpac is worth A$515 million, or US$300 million!

Although Westpac has suffered serious losses, the price is still too low!

Stanny Kelson took a step back and added 10 million Australian dollars: "I can only add 10 million Australian dollars more. Westpac is on the verge of bankruptcy. President Knox, you have to recognize the reality."

"No, at least 500 million Australian dollars!"

...

It involves the sale and purchase of the Knox family's equity, without the participation of executives of Westpac Bank, the owner of the family, Milo Knox, has done it completely.

After intense negotiations, Milo Knox, who had long lost the initiative, was finally defeated and accepted the cruel reality.

The Knox family's 19.4% stake in Westpac was transferred to the Bright Fund at a price of A$210 million, and it also had to ensure that the insider situation of the bank would not be disclosed to the outside world.

The reason why Bright Fund is willing to spend this money to acquire equity is not only that it is difficult to compete in bankruptcy and liquidation, but the most important reason is that it does not want Westpac Bank to be run by depositors and a credit crisis will break out.

The losses of Westpac Bank will be lost, and Bright Fund will naturally be able to offset them after taking over. However, once it is run, it will cause a huge blow to the bank's reputation, and the bank's assets will also be quickly lost, and what it will get is a broken bank.

This, Milo Knox also knows, he also seized this point to negotiate, otherwise don't even think about talking about 210 million Australian dollars.

On the same day, Bright Fund signed an equity transfer agreement with the Knox family.

In the next two days, the Bright Fund used the same tricks to deal with other shareholders. All the stocks raised their hands and surrendered, choosing to stop losses in time.

Plus stocks that are bottoming out from the stock market.

Bright Fund holds a total of 82.7% of Westpac, costing a total of 944 million Australian dollars.

Australia's second largest bank, the largest financial core of the Sydney consortium announced a change of ownership.

After the news came out, both Australian domestic capital and political circles, as well as international institutions, were shocked.

The Sydney consortium is over!

The Bright Fund from the United Kingdom took the lead, and the international institutions immediately adjusted their strategies and aimed their guns at consortiums other than the Sydney consortium to avoid unnecessary competition.

The Fairfax family, the Knox family, the Jonathan family, the Johnston family and many other families also raised their hands and surrendered, reluctantly cut their flesh to stop their losses, and shrank their strength to prepare for a comeback.

With the help of Westpac Bank, the Bright Fund's harvesting action on the Sydney consortium has accelerated again.

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