On Monday morning, Lin Zuhui appeared in a conference room in an office building in Paris. He had to admit that the strength of his team would not delay him at all. Because he had breakfast at the Luchen Family Manor in the early morning and started taking the bus at seven o'clock.
We drove to the airport in Bordeaux and showed up at the office building in Paris at 10:30.
In the conference room were the top executives of the New Era Hotel Department, including President Colbert, Vice President Li Mingtao and others.
In fact, the hotel structure of New Era Group is very simple:
A 34.5% stake in the Shanghai Hotel (market value of over 23 billion) and a 34.5% stake in the Miramar Hotel (a market value of over 10 billion). These are two heavy assets. Although New Era Hotel Group is not the main manager, it has also dispatched several
A director has the right to intervene and make suggestions to these two hotel groups. After all, he is the major shareholder.
These two assets alone are as good as New World Development's hotel assets. In addition, there are the aircoa hotel management group network in the United States, the Constellation Executive Hotel Group in Canada, the Hilton Hotel in Manila, and the Fuli Hotel in Hong Kong.
Hua Hotel.
Easily make the group's hotel assets No. 1 in Hong Kong.
This time everyone gathered in Paris, France, and naturally something big happened.
After Lin Zuhui sat down, he went straight to the topic without too much nonsense: "Report on the situation of club med (Club Med)!"
Colbert immediately said: "Okay, boss. Club Med was founded in 1950 and is currently the world's largest resort brand. It currently has 91 resorts around the world, mainly in Europe, followed by the Americas, Asia, Africa...
.....After the death of founder Blitz in 1991, the 'Desert Storm (Gulf War)' of the same year severely affected the tourism industry, and Club Med suffered heavy losses...Today, the company's market value is
$220 million...."
Listening to Corbett's report, Lin Zuhui also fell into thinking. This kind of resort is less profitable than a hotel. It may have an annual turnover of 1 billion U.S. dollars and a net profit of only 10 million U.S. dollars. It may even be at a loss. It is so cheating. Because of this
, the asset value of this kind of enterprise is high, but the market value is very low.
It’s not that his net profit is really that low. Assuming that he has not invested money in purchasing heavy assets or extensive renovations for a few years, then the net profit in a year may reach hundreds of millions of dollars, and the investment can be repaid in a few years. Provided that the peripheral
The condition is very good and the management of the company is efficient and useful.
But what Lin Zuhui considers is not the issue of return rate, but the issue of industrial chain and influence.
First of all, let’s talk about the industrial chain. Entering the resort brand can improve the industrial chain of the New Era Hotel Group, which will have certain influence and benefits for the entire hotel group; especially Lin Zuhui also wants to build an 'Atlantis' high-end luxury hotel brand.
It turns out that strictly speaking, this brand also belongs to the "cultural tourism" industry, which is the same type as the Club Med brand.
The second is influence. Lin Zuhui cannot always make money by 'speculating', as this will limit his family's industrial prospects. The biggest limitation is that he will not have much influence in the future, and other countries will reject his investment because he
He is just a 'speculator' and a 'speculator', and can easily be thrown at someone. 'Club Med' is the world's largest resort brand with tens of thousands of employees. After his acquisition, it is equivalent to having more than 10,000 employees.
of employees.
After simply listening to the report, Lin Zuhui already knew it in his mind. He didn't need to read reports, investigate and analyze repeatedly like the bosses of other companies.
"What's the shareholding status? How do you plan to acquire it?" Lin Zuhui asked.
The implication is that this project is finalized.
In fact, New Era Hotel Group has done a lot of preliminary investigation work and preparations for the hypothetical acquisition.
Therefore, Corbett said: "The shareholdings are very dispersed. The largest shareholder is Serge, the current chairman and CEO, who owns 8% of the shares. However, he has just succeeded his father Gilbert?
Trigano's position is that he has not yet officially taken control of the company."
Lin Zuhui asked curiously: "Isn't the founder Blitz? How did it get passed down to this family?"
Colbert immediately explained that the Trigano family was originally a small family that produced tents. In the 1950s and 1960s, Club Med was just a company that invested in "tent villages", and the Trigano family was the owner of a factory that produced tents.
So he invested in this company, and Gilbert Trigano also became the treasurer of Club Med, and later became the chairman of the company's board of directors.
After founder Blitz died in 1991, Gilbert Trigano also served as CEO. As a result, he encountered the Desert Storm and the company's business plummeted. After all, Gilbert Trigano was old.
He passed it on to his son Seulgi in the hope that Seulgi could carry out revolutionary reforms.
Lin Zuhui said: "In this case, let's make a public acquisition. A tentative offer with a 20% premium. There is no need to rush."
Since we are abroad, and it is not a Chinese country, it is better to make a 'goodwill acquisition'.
Corbett nodded and said: "If you just become a major shareholder, it shouldn't be difficult to acquire. But if it is a wholly-owned acquisition and delisting, it will be a little difficult. After all, this is not a mainstream acquisition."
When Lin Zuhui thought about it, delisting acquisitions were indeed not mainstream acquisitions. In addition, in the eyes of many French people, Club Med is a natural extension of the French brand and a company that promotes their art of life and festival art. Therefore, this is not a simple tour.
Group. Therefore, there are still some obstacles to such an acquisition.
"Just becoming a major shareholder is not enough. I don't really believe in Seulgi's reforms, so I hope that at least we can control the appointment of personnel and recruit a new CEO."
This chapter is not finished yet, please click on the next page to continue reading the exciting content! Corbett said quickly: "No problem, we will definitely achieve this result at least."
Lin Zuhui added: "If it can be privatized and delisted, that would be a better result. I like to reorganize this brand, make profits, and then relist it at the most appropriate time."
Currently, this brand is still losing money, so Lin Zuhui hopes that someone can rectify Club Med.
"Okay, boss."
........
New Era Hotel Group's invitation to acquire Club Med was quickly sent to the office of the chairman of Club Med and publicized through the French media.
For a time, public opinion in France was ignited.
The world's richest man has just robbed a second-class winery from France, and now he is once again targeting France's cultural tourism brand - Club Med.
Of course, compared with the public opinion on the acquisition of Latour and the Luchen Family Manor, the opposition this time was much smaller.
Club Med.
Corbett came to Serge's office to discuss the acquisition.
Seqi was actually very interested in New Era Hotel Group's offer. After all, as news of the acquisition spread, the company's stock price immediately soared by more than 5%, which was equivalent to their family's 8% shareholding also appreciating a lot.
Moreover, he also knew that behind the New Era Hotel was a super rich man, the richest man in the world. The 20% premium was obviously not enough to successfully acquire it. There would be a higher price later, so it was best to join new bidders.
Therefore, Serge asked: "President Colbert, regarding your acquisition, we need a board discussion and the consent of the French financial regulator AMF."
Colbert smiled and said: "Of course! I just came here to have a friendly communication with Mr. Serge. We are sincere in acquiring Club Med."
Serge immediately asked: "Since you are sincere in negotiating the acquisition, then you must only be the major shareholder and not interfere in the company's operations?"
Colbert shook his head, surprising Serge.
"Mr. Serge, we hope to redefine 'Club Med'. After all, the company's situation has been really bad in recent years, so we hope you will abdicate with the money."
Serge suddenly said unhappily: "Do you have a way to run the club well?"
Corbett said confidently: "We have some business strategies, but we will hire a more suitable CEO to manage this company." The source of his confidence is that this acquisition was proposed by the boss, and it seems that the boss is also confident.
It's absolutely true, that's why he's so 'shameless'.
As for why he told Serge bluntly, it was because of the need for a 'sincere acquisition'. Whatever happened was what happened. Moreover, Serge couldn't decide whether to accept it or not. It was up to the Club Med board of directors and the general meeting of shareholders to decide whether to accept the acquisition.
.
Seqi could only say politely: "Okay! We will organize the board of directors and we will let you know whether to accept the acquisition or not."
Colbert nodded and said: "Assuming that our acquisition is successful, if President Serge is optimistic about it, he can also retain some of the shares. We are willing to retain the position of 'Honorary Chairman' for you."
Serge immediately retorted: "Where do you have the confidence to run the club well?"
Corbett said with a smile: "A 29-year-old self-made richest man in the world has such strength. President Serge shouldn't think, 'That's just luck, right?'"
Serge was speechless for a moment!
Lin Zuhui is by no means unknown in Europe and the United States. Especially in the past year or two, he has not only acquired eight skyscrapers in Manhattan, but also invested in the UK's 'Canary Wharf', and now he has acquired the Roussin family estate in France. Which one?
It's not a strong performance.
What's more, Lin Zuhui is known as the "Asian Stock God". He has invested in Citigroup, Microsoft, General Dynamics, etc., and is also famous on Wall Street.
........
After launching the acquisition of Club Med, Lin Zuhui did not choose to take charge personally. After all, such an acquisition may take a long time to come to fruition. Maybe the board of directors of Club Med rejects the acquisition proposal, and then New Era Hotel Group will raise its offer again.
Testing; it is also possible to add third-party competitors midway, and then bid again.
After all, this is a friendly acquisition, so the final answer can only be found through the quotation and board resolution/shareholders meeting.