America's Road to Fame

Chapter 192 Countdown

"What did Garred say about our terms?"

In the reception room of the Long Island Manor, in front of William Chen was Nelson from the Equity Investment Department of Meta Investment Company.

"He said he would consider our proposal, but he has not responded to us yet."

Nelson shook his head and said:

"In addition, boss, I got the news that Garrett's father was released from prison 20 days ago, but the Kushnar Group has not made any adjustments to the management, and is still led by Garrett."

Garrett's father, Charles Kushner, has been investigated for tax evasion and other charges.

At that time, after he accidentally discovered that his brother-in-law was cooperating with the US government, he formulated a plan of revenge and intimidation.

Kushner Sr. hired a prostitute to seduce his brother-in-law, then arranged for the encounter to be recorded on a hidden camera in a New Jersey motel room and sent the recorded footage to his own sister, hoping to end the crime. This endangers the opponent to stop cooperating with investigators.

However, the plan didn't work.In the end, Garrett's father had to plead guilty under the investigation. He admitted 18 charges, including tax evasion and witness tampering, and was sentenced to 2 years in prison.

Now he has been released from prison after serving his sentence, but it seems that he has not publicly returned to the Kushnar Group, and his son Garrett is still leading the family company.

At that time, the agreement reached between Chen William and Kushnar Group was that Building 666 was valued at US$20 billion, and the other party invested US$10 billion to increase the shareholding in Building 666 Asset Management Company to 60%.

Then the Kushnar Group received a total of 20 billion US dollars of convertible equity loans in two installments for the renovation project of the building.At present, the loan of 20 billion US dollars has already received 10 billion US dollars, and the remaining 10 billion US dollars must be received within 5 months of the signing of the agreement, that is, in February this year, and now it is February, and it will be released soon The deadline for the final payment of funds has arrived.

According to the agreement at the time, if the Kushnar Group failed to transfer funds into the account of the No. 666 Building Asset Management Company on time, then William Chen had the right to acquire 666% of the shares of the No. 60 Building Asset Management Company held by the Kushnar Group at the market price. share.

Therefore, if the Kushnar Group does not put the billion dollars into the account of the No. 666 Building Asset Management Company, Chen William can use the market price to acquire the No. 20 Building Asset Management Company held by the Kushnar Group, which accounts for 666% of the total equity. Shares, so that his holdings reached 60%, thus completing the holding of No. 666 Building.

It took five months from the beginning of September to the present, and Chen William finally waited for this moment.

However, his goal was not just to hold the No. 666 building, but to completely win the building, so he asked Nelson to bring his own proposal to Garred, and gave Garred two options:

If the other party cannot transfer the final 2 billion US dollars to the account of Building 5 Capital Management Company before February 10th, then——

In the first option, William Chen will take back the shares of the No. 24 Building Asset Management Company, which accounts for 20% of the total share capital of the Kushnar Group, at a valuation of US$666 billion, and complete the holding of the building.

At the same time, if the Kushnar Group cannot complete the transfer of the subsequent US$10 billion convertible loan, the renovation project will be frozen.

Although the final payment for the renovation project will only be paid after the project is completed, as the controlling party at that time, William Chen can find a reason to suspend the renovation project.

In other words, after the Kushnar Group received 4.8 million US dollars of funds from William Chen to purchase 20%, the shareholding ratio in Building 666 returned to the original point, and their first tranche of 10 billion US dollars of loans will always be trapped. In this renovation project...

另外一个选择就是陈威廉以25亿美元的估值买下Kushnar集团在666号大厦资产管理公司的所有60%股份，同时在签订协议之后，离刻拿出10亿美元偿还Kushnar集团第一期的10亿美元借款。

This is equivalent to that the Kushnar Group can immediately withdraw all funds from Building 666. Of course, a certain loss is certain.

陈威廉以25亿美元的估值购买大厦股份，也就相当于Kushnar集团能够拿到15亿美元现金。最初Kushnar集团以8亿美元拿到了666号大厦40%的股份，然后又入资了10亿美元，这样就相当于他们最终在这个交易中亏掉了3亿美元。

But now it is the subprime mortgage crisis. Even if there is a slight loss, the most important thing is to survive. As long as the company can survive the crisis, there is still hope of making money back.

For William Chen, it is equivalent to using US$5 million to buy back 8% of the shares in the building in the hands of the Andal Trust Fund, which was originally bought by Garrett for US$40 million. The $6.4 million given to the Andal Trust Fund is $1.4 million cheaper.

Now it depends on Garrett's final choice. Of course, it is not ruled out that he will persevere and find funds to continue lending to the No. 666 Building Fund Management Company to maintain their holding and complete the renovation of this building.

This is just the kind of decision that is clearly not rational.

Of course, William Chen can also use the [Black Swan Scroll] to make the situation of Kushnar Group worse and continue to lower his own purchase price. Somewhere even close to 30%.

However, in the New York City area, the decline in housing prices is between 15-20%, and even in parts of Manhattan, the decline in housing prices is less than 15%.

Therefore, according to the agreement, William Chen only has the priority to repurchase the shares, not that he can only sell them to William Chen. Therefore, if he lowers the price too hard, it is very likely that the other party will sell it to someone else directly.

Well, compared to paying a maximum of [-] to [-] million US dollars less, William Chen might as well use this [Black Swan Scroll] to Murdoch to help him acquire [-]th Century Fox.

Compared with other industries, real estate is mainly a stable asset. In the United States, the appreciation of real estate is limited, far less than that of the Internet and film and television media industries.

Just like the MGM company that William Chen bought for US$15 billion, even with the injection of US$5 million to start two film projects, if it is not counted as helping to repay the debt, it only cost US$20 billion.

In the previous life, when Amazon acquired MGM Pictures, the asking price was as high as more than 80 billion US dollars, which is a 4-fold increase in value.

But what about the mansion?After ten years, it is impossible to have a 4-fold increase in value, and it would be good to have a 2-fold increase. What's more, if there is a natural disaster, not only will it not increase in value, but it will also depreciate.

Therefore, considering these circumstances, William Chen asked:

"Have you investigated the recent situation of the Kushnar Group?"

"It's very bad. Because of financing difficulties, many projects in their hometown of New Jersey have been suspended. It is also said that a subsidiary of the Kushnar Group is also involved in subprime mortgage bonds, and has a very large loss, but the specific extent of the loss , because it is not a listed company, so no specific disclosure has been made, but according to what I have learned from some sources, I am afraid that the losses incurred will not be less than 5 million US dollars, so basically their current situation and the current lack of liquidity With the financial situation, it is definitely impossible to get a $10 billion loan through the bank.”

What William Chen mainly wants to know now is how likely it is that the Kushnar Group will be able to come up with 10 billion US dollars on time. It will take more effort to get the building back.

And once they can't come up with the money, faced with the two options given by William Chen, they will most likely choose the latter, otherwise they will lose their controlling stake, and if the renovation project stagnates, even if they get a part of it and sell 20% of the shares The funds don't mean much to them, because the suspension of the project means that their 20 billion funds are dragged here, and the huge financing pressure can also overwhelm them.

"Nelson, can you try to investigate Marian Bentley next to Garrad, she is a member of the German branch of the Bentley family, I hope to know the latest situation of the Bentley family in Germany, there is Not affected by the subprime mortgage crisis."

William Chen thought that the only source of funds that Garrad could rely on now should be the Bentley family, which mainly focuses on banking business. That Marianne Bentley is a descendant of the Bentley family.

"Okay, boss, I'll do my best to investigate in detail."

(End of this chapter)