After understanding Samuel's strategic intention, Richard seized the time and prepared to implement the repurchase plan to the letter.
However, soon, based on analysis and evaluation, the group made further requirements, hoping to increase its liquidity reserves to be ready to acquire high-quality projects at any time.
However, if Leon Group wants to execute the acquisition agreement, it will have to make certain changes to the payment method.
Since Richard is responsible for this matter, he must select assets acceptable to the two white knights from all non-core assets of the group and replace them.
The difficulty and workload of this job are not small. Fortunately, Richard has been the assistant to the chairman for a long time and is very familiar with the group's situation. If it were anyone else, it would be really difficult to complete all aspects of the company in a short period of time.
Valuation of assets.
The remaining work is to make a choice based on the business scope and relationship network of the two white knights.
Richard understands a truth well. In this case, the options given to the other party must not be too many, otherwise it will be difficult to control the replacement cost and operation time.
If we were to stupidly list all the assets that could be replaced and let others choose, then Richard would never be able to sit in the position of assistant to the chairman until now.
It's easy for David to say that he only owns 0.99% of the shares of Bank of Gaul, which is worth more than 300 million US dollars (after an 80% discount), which is not too much.
Moreover, his business is closely related to the main business of Leon Group. Therefore, Richard considered that he could directly offset it with the equity of a certain project or even the mineral products of Leon Group.
Therefore, when Sun Dahai just arrived in London, Richard invited David to London and was negotiating with him. Since the demands of the two white knights were different, Richard must resolve the easy one first, and then negotiate with Sun Dahai.
talk.
As expected by Richard, David found a satisfactory replacement asset in the project he carefully prepared for him and negotiated a valuation.
In the end, it took Richard and David nearly a week to reach a consensus on the valuation standard for the replacement assets. With this standard, the two parties only waited for Leon Group to officially implement the repurchase before making the replacement based on the price at that time.
When he arrived at Sun Dahai, Richard had a headache.
At that time, they chose Sun Dahai just because Sun Dahai had no direct business dealings with them and his identity would not be easily exposed. At the same time, it was also because Sun Dahai also had this spare money and agreed to let this spare money be immersed in the stocks of the Bank of Gaul for a long time.
Of course, the amount of spare money, up to 300 million U.S. dollars, is not something that ordinary people can take out casually. All Leon Group paid for it was to sell a set of idle real estate far away in Shi'ao, Xiangjiang at a fair price.
The Leon Group did not know that Sun Dahai had the memory of rebirth and knew that the Bank of Gaul was facing a hostile takeover not long after. Sun Dahai would not only be able to leave the market easily, but also make a lot of money.
Under normal circumstances, the investment of white knights will generally be immersed in the stock market for several years or even more than ten years. They only rely on the development of the listed company to increase the stock price. They may not be able to maintain their capital when they leave the market.
At this time, the economies of all countries around the world are developing at a rapid pace, and most companies are using large amounts of loans to increase their development speed. There are still a few people who are willing to spend such a large amount of money to be white knights.
Therefore, if Leon Group had not chosen Sun Dahai at that time, would it have had a better choice?
If Leon Group carries out the repurchase with cash in accordance with the previous agreement, of course there will be no problem at all.
But now when they wanted to carry out asset replacement, they suddenly discovered that the businesses of the two parties had no intersection at all.
Therefore, it has been more than two weeks since David left London, and Richard has not contacted Sun Dahai yet. He is using various connections to send people to Xiangjiang and even the mainland to investigate and analyze, trying to use his less important assets to
We can find a project that makes Sun Dahai willing to accept the replacement.
Various messages were sent back to London one by one, and Richard led people to analyze them, which made his head spin several times.
Although the business scope of the Future Building System is very broad, it is far different from the mineral mining of Leon Group. It is really difficult to find common concerns among them.
Hard work pays off!
An assistant suddenly made a discovery: "Mr. Richard, I seem to have an impression of the name of the company where Sun's father works. It seems that it has some interactions with our group. I will go and investigate."
This assistant's observation and memory are very good. China Construction's overseas companies do have some indirect contact with the Leon Group.
"Found it! China Construction Overseas Company and China Minmetals Import and Export Company jointly bid for the Gabon B306 project last year.
They were our group's main competitors in that project. Although our group won the bid in the end, we used a lot of other resources privately, so we can only say that we won by a narrow margin."
The assistant said and handed a copy of the Gabon B306 project dossier to Richard.
The Gabon B306 project is a comprehensive development project that includes the mining rights of a very large manganese-rich deposit and the construction of a new 40-kilometer-long road from the mining area to the port as supporting facilities.
The ore of this manganese deposit has a high manganese content, with proven reserves of more than 100 million tons. The mining difficulty is moderate, and the mining cycle is expected to be more than thirty years. It is considered a good project.
But if you include the road construction projects coordinated by the Gabonese government, things are a bit complicated.
The Gabonese government does not have high requirements for the grade of this highway, which is roughly equivalent to China's third-class highway standards.
However, the Gabonese government hopes that this highway can connect two villages and towns along the way. Therefore, it not only increases the length of the road by more than 15 kilometers, but also involves the construction of two bridges and several tunnels, and the cost suddenly increases a lot.
The Leon Group's project team asked its mining construction company to conduct cost accounting for the road and concluded that the construction cost was between US$180 million and US$200 million.
The Gabonese government has mixed bidding for 50% of the mining rights of this mine and roads. This mix and match makes sense, because whoever gets the mining rights of this manganese mine needs roads to connect the mine site and the port.
However, the Gabonese government, which was supposed to complete the supporting projects, has been unable to carry out infrastructure construction due to the severe recession of its oil-based industrial economy in recent years. It cannot even bear its own portion of the road construction costs at a 50% ratio.
Therefore, they can only use a matching method to conduct bidding, and the road construction costs will be included in the project cost, which will be borne by the mining companies that respond to the bid.
The final winning bid price of Leon Group was US$430 million. Among them, they paid US$250 million to the Gabonese government to acquire 50% of the mining rights of the deposit here. In addition, Leon Group will also pay US$180 million in road construction costs.