"Paranji, according to our previous agreement, 6 Tigers belongs to your Tata Motors, and a factory in North America also belongs to you. You choose this one first, invest according to the contract amount, and bear the corresponding debts at the same time.┡M" Feng Yu Said very generously.
Parangi is actually a little unhappy. He also wants Woerwo, but Fengyu Holding Group is in charge of all the acquisitions, and the money is paid by China xx Investment Company. Giving them a Liuhu is already It's very good, not to mention that North American factories let them choose first.
Fortunately, he also knows that it is not that we will not stop talking with the other side, but that we will pause it first and wait until the other side becomes more depressed before negotiating again. Tata Motors will still be able to get one or two good car brands later. .
"Then we want this." Parangi grabbed a document. It is the largest of the three factories, but it is not the best located. However, what Tata Motors wants now is to expand the scale.
"Okay, then Jiebao belongs to us, and will be sold to Bingcheng Machinery Manufacturing Group later. Mr. Xu, you want the equity for the same use in Magic City, so do you also want the equity in Changan Fute? And Woerwo, Are you sure you want them all?"
"We want all the equity in the joint venture, and Woerwo is sure to want it all, but we can give you a factory. North America has agreed that we also have a factory, right? We want this one."
Mr. Xu also bluntly stated his conditions, or the conditions that had been studied by the superiors. Of course, he had discussed it with Feng Yu in advance.
"Okay, then we will invest in the establishment of an asset management company as agreed, and then restructure these assets and strip out the non-performing assets, and we will bear the responsibility in proportion."
What Ralph means is that the liabilities on the non-performing assets side should be bought out directly. That is to say, the debts are paid off at once, and the remaining workers are directly compensated to buy out the contracts, and then some companies can be canceled directly.
Tata Motors believes that a direct buyout is not cost-effective. Although they will have to pay some interest on these debts every year in the future, it can alleviate the current financial pressure and prevent them from investing so much money at once.
In terms of state-owned assets, it doesn't matter. They have money now and can afford a buyout, but it would be good to spend less money and then use the saved money to invest and make money.
But they also understand that the current economic situation is good on the surface, but the impact of the subprime mortgage crisis has already appeared. Many small real estate finance companies have gone bankrupt. Then the economic situation is likely to take a turn for the worse. They have no confidence to survive at this time. It can guarantee that investment will make money.
Generally, when investing large sums of money, you will choose some long-term and safe investments, such as blue chip stocks, high-quality long-term bonds, high-quality funds, etc.
As for investing in the futures market, this kind of investment is too risky and generally state-owned assets will not do it. The only thing they did was invest in gold, and they didn't dare to use twice the leverage, for fear that they would lose a lot of money accidentally, and no one could bear this responsibility.
Although gold has been rising in recent years, it has not always fallen. The level of state-owned assets is average. Generally speaking, it still makes more and loses less, but it is not that there are no losses.
They now have another idea, which is to buy fund bonds from Taihua Consulting Company just like Yidong Company. The income is good and it is very safe.
However, some people object, thinking that Taihua Consulting's bonds have a yield range, which guarantees you a minimum yield, but the maximum is only that much. Even if this project makes more money, it will not be distributed to you.
This gives people the feeling that they may have lost money, which makes many people very unhappy. When it comes to directly entrusting the company to Taihua Consulting, they have concerns. One is that they feel uneasy, and the other is that the commission rate charged by Taihua Consulting is too high. Taihua Consulting is actually registered in Xiangjiang and adopts a commission negotiation system.
In other words, they are not bound by the mainland's commission limits and can set it very high or very low. Domestically, they are all within a certain range. They cannot exceed this range, and they cannot fall below this range.
Feng Yu had long known that there would be these restrictions in the mainland, so he had already made preparations. After all, Xiangjiang belongs to China, so who can say what is wrong
Several methods of dealing with non-performing assets have advantages and disadvantages. Which one is suitable for you
Feng Yu told Ralph that in fact, they really couldn't buy out these non-performing assets at once. Taihua Holdings also had no money. Feng Yu had transferred the funds to the financial market. Although a lot of money was in the account , but cannot move.
So they decided to take another approach, which was to securitize non-performing assets. What does it mean? These bad assets are packaged and sold as securities. Then use this money to buy out the bad assets.
Or there is another way. Large banks such as Morgan Stanley are also experts in handling these non-performing assets, and they can package these non-performing assets and sell them directly.
The securitization of non-performing assets is still in a state of exploration in China. It is only being tried in some pilot projects. It is very troublesome to operate domestically. Fortunately, they will complete it abroad.
Parangi's team quickly calculated the funds they should pay, and he went to report to the group company to discuss the payment.
At this time, Mr. Xu whispered mysteriously: "Mr. Feng, our state-owned assets are ready to buy these non-performing assets."
Feng Yu was very surprised. The securitization of non-performing assets in China is still in its infancy. How do they plan to deal with it
If the non-performing assets are handled well, it is indeed possible to make money, but if they are not handled well, not only will it cost money, but it may also become a huge burden.
Mr. Xu looked puzzled and explained: "Mr. Feng, when you continued to inject capital into Bingcheng Machinery Manufacturing Group, you had an agreement with your superiors. If necessary, you can accept Bingcheng Zhengaxe's equity in a certain proportion. Increase, right?”
Feng Yu raised his eyebrows: "Are you planning to swap debt for equity?"
Debt-for-equity swap means converting debt into shares. This method was tried as early as the late 1980s, and became very popular in the restructuring of state-owned enterprises around 1998.
At the beginning, Feng Yu diluted Bingcheng Zhengfu's equity a lot, including Fu Guangzheng's equity. Later, in accordance with the contract, Fu Guangzheng made additional investment, bringing the equity ratio back to 16%.
Although Bingcheng Zhengaxe also made some additional investments to bring back some of its equity ratio, it was far from the original amount. It's not as good as Fu Guangzheng's shareholding ratio being high now.
Bingcheng Zhengaxe can't get out the money, but the superiors can. After a simple operation, the equity ratio can be restored in the name of Bingcheng Zhengaxe, and then the debt can be paid to a certain state-owned asset.
"Mr. Feng, Zhang Buchang said you agreed to this in the first place." Xu said weakly.
Hey, this little money, do I need to regret it? No matter what, Taihua Holdings Group is still the controlling party.
"No problem, you can discuss it in detail with Zong Qing later."
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