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"Chairman, Mr. Ralph asked me to report to you that the chairman of Tongyong Automobile has contacted us and wants to talk to you about the sale of their assets."
Ralph and Masao Kameda are both in Europe at this time, and Feng Yu is here. Naturally, it is up to Feng Yu to decide the big things.
Besides, this matter actually does not belong to Fengyu Holding Group, but to Taihua Holding Group. The automobile business will definitely be merged into Bingcheng Machinery Manufacturing Group.
At the beginning, Feng Yu negotiated with Tongyong Automobile and Ford Automobile at the same time, letting both companies know that the other party was negotiating, and thus acquired many high-quality assets at very favorable prices.
Basically, those who spent the money were China's state-owned assets, including Jiebao acquired by Bingcheng Machinery Manufacturing Group. At that time, Feng Yu's funds were all in the financial market.
At that time, Tongyong still had some high-quality assets that Feng Yu was interested in, such as brands, technologies, sales channels, etc. in the Australian market or North American market, but Tongyong was unwilling to sell them at that time.
Last year Tongyong suffered tens of billions of dollars in losses on its books, and this year its losses continue to expand, and there are still some losses that are not shown in the books.
When Ford Motor sold most of its overseas assets, it made its peers laugh. They thought Ford had cut off all avenues for foreign expansion in recent years, and the gains outweighed the losses.
But now, Ford has begun to break even, and by the end of this year, it is expected to be profitable. Although they have only retained their North American market, and the European market has lost most of their efforts over the years, this is their home base, and they still have sufficient funds to expand their business in car rentals.
The mortgage loan companies under Tongyong have repossessed many mortgaged cars and can only sell them as second-hand cars at low prices, which also affects their own market.
Ford is different. It directly transfers to its own car rental company. Ford has car rental businesses in North America and even Europe. They are the largest in the world.
As for Kelisile, although it was repurchased by an American consortium, it was a pity that it was still making money when it was bought. However, it started to lose money after buying it back. It is still losing money to this day.
That is to say, they are a consortium formed by many wealthy people, and they can spend a lot of money to ensure that Collision will not be as miserable as Tongyong Auto.
However, seeing that Tongyong Auto had applied with the government to file for bankruptcy protection, Kelisler also put forward conditions for the government to provide assistance funds.
It is better to use the government's money to save companies than to use their own money. If they can't save it this time, they won't lose all their wealth.
However, the pitfall of sharing cars is too big, and the funds used to save companies on the verge of bankruptcy in the United States are simply not enough. There was such a big crisis when George W. Bush was in office, but he resigned safely and was currently making money giving speeches across the United States.
But his successor, Obama, was more tragic. He was in such trouble when he came to power.
The support funds provided by Xiao Bu Shi were simply not enough. As a last resort, the U.S. government begged again, issued a lot of national bonds, and raised a large sum of money.
The American government has also learned from Europe and turned some particularly important enterprises directly into state-owned holdings or even fully state-owned.
When it was his turn to share the car, Auba Niu hesitated. This required too much money, the debt was so high, and he had to continue investing, and the government didn't have that much money.
During the bankruptcy protection period, they need to quickly restructure the assets of the company and divest some non-performing assets to ensure the competitiveness of the company so that the company can pay off its debts through profits.
At this time, the political ax also gave orders to fellow automakers. You have to find a way, learn from Ford Motors, sell some assets, get back some cash, and redeem yourself.
However, at this time, the global automobile market was declining, and car companies including Daimler, BMW, Honda, Dezhong, Honda, and Hyundai were all losing money. However, they suddenly discovered that there were several car companies that not only Last year, there was no decline in turnover, and there was still high growth, and profits also increased. That was the case for several Chinese car companies.
Among Chinese car companies, the most powerful one is definitely Bingcheng Machinery Manufacturing Group. This is undoubtedly one of the top large car companies in the world.
Others include Modu Automobile, Yiqi, Yangcheng Automobile, Jingcheng Automobile, etc., and their strength has also improved rapidly. Of course, these are all due to China's taking automobiles as a pillar industry and its strong support.
Didn't Tongyong Auto contact Modu Automobile first? We had cooperated with each other before, and their joint venture car factory shares in Modu were also sold to Modu Automobile.
But Modu Automobile directly refused. After just buying shares of Tongyong Automobile's domestic joint venture car company, they upgraded their technology and bought some patent licenses from Europe, so now they have no money, and they are also interested in overseas markets. Not interested in.
Tongyong Auto contacted China's large car companies one by one, and later even contacted some car companies that could not be ranked in China. However, either the other party had no intention of buying at all, or they quoted a cabbage price and refused to accept it. debt.
In the end, they found that they could only contact Bingcheng Machinery Manufacturing Group, but they said that it was time for the change of chairman and the old chairman was retiring, so they refused.
Li Mingde is getting older and plans to retire. He has a consultant title in both Taihua Holding Group and Bingcheng Machinery Manufacturing Group. He is the chairman of Bingcheng Machinery Manufacturing Group. He recommended Li Dafu, Feng Yu, Zong Qingxian, Liu Chuanzhi, etc. No one has any objections, and the state-owned assets have no objections either, but it still needs time for handover and procedures.
No, the car sharing company is anxious, and they don’t care to let the other party know that they are in urgent need of funds, so they will lower the price. They contact Ralph directly and hope that they can contact Feng Yu here. They want to continue to let Feng Yu buy some of their cars. assets.
Knowing that Feng Yu was in New York, Tongyong Auto couldn't wait to have an interview with Feng Yu right away. They needed money now.
Feng Yu looked at the information handed over by Assistant Ralph, which contained a detailed assessment of the assets of the same car at this time.
Tsk, tsk, tsk, too many are marked in red fonts, these are non-performing assets that are not worth acquiring. There are not many high-quality green assets at all, including several major brands owned by Tongyong Automobile.
As for ordinary assets that range between high-quality and non-performing assets, there are many, and this needs to be considered comprehensively. If they can complement the business advantages of Bingcheng Machinery Manufacturing Group, then they are equivalent to high-quality assets. If they cannot complement each other and instead overlap, then they are non-performing assets.
Seeing so many non-performing assets and only so many high-quality assets, Feng Yu, who was originally very interested and planned to take advantage of the opportunity to continue to expand, suddenly didn't want to buy it.
Sharing a car is so rubbish, no wonder they filed for bankruptcy!
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