My 1999
Chapter 598 Fund No. 3
"Hello, Mr. Xu. You are the most talented financier and business tycoon I have ever seen."
Xu Liang smiled reservedly and said, "Thank you, Mr. Robertson."
His eyes turned and there was no need for Browning to introduce him.
"I guess this is the third minister of authority, right?"
Quan San quickly held his right hand with both hands, keeping his posture very low.
"Mr. Xu, you are the pride of our Asian business community!"
"Minister Kwon is too polite."
After a brief greeting, the four parties sat down with each other.
“Everyone, regarding Hongyan Fund’s acquisition of Hynix Semiconductor, we have been negotiating with the South Korean government and the Exchange Bank on behalf of Hongyan for 37 days.
and negotiated the following conditions.
First, all of Hynix’s US$20.6 billion debt will be deferred for one year. After one year, only the principal will be repaid and all interest will be waived.
Second, Hynix is allowed to reorganize its business and sell off its non-memory chip business to raise funds.
Third, as long as Hynix headquarters does not move out of South Korea, it will continue to enjoy the provisions of 17 policies and regulations including South Korea's "Semiconductor Chip Protection Law", "Semiconductor Industry Promotion Plan", and "South Korea Semiconductor Five-Year Development Plan" preferential policies for local semiconductor companies.
Fourth, after Hongyan Fund took over Hynix, all employees were retained and could not be fired unless they violated company rules and regulations, such as stealing company property, being late and leaving early for more than ten times, etc.
Fifth, after Hongyan acquired Hynix... "
After saying thirteen things, Rasha Browning stopped.
His eyes swept over everyone, and finally settled on Xu Liang.
"Does Hongyan, the South Korean government and the Exchange Bank have any objections to the above terms?"
The representatives of the three parties shook their heads at the same time as they had already discussed the matter.
Rasha Browning continued: “Next is the objection part, which mainly consists of two points.
First, South Korea and the Exchange Bank hope that Hynix’s registered address and headquarters will remain in South Korea and be listed on the Seoul Stock Exchange in the future.
Hongyan hopes that if it agrees to this condition, it will be guaranteed by the South Korean government and the Exchange Bank will provide a loan of US$1 billion with an interest rate of no more than 5.5% for a period of five years.
Second, South Korea hopes to establish a seven-member board of directors within Hynix, and the South Korean side hopes to have no less than four directors.
Hongyan felt that the number of directors was too many and could only agree to two at most. "
There was a pause.
Rasha Browning looked both ways.
“Are there any more suitable solutions for both sides regarding their differences?”
Quan San smiled and said: "If Mr. Xu is willing to become a South Korean citizen, then we will agree to all Hongyan's requirements."
Browning shook his head inwardly.
This condition is too exaggerated.
South Korean nationality is of no use. If it is really to make the acquisition of Hynix smoother, wouldn't it be better to directly become an American citizen? At that time, we can also share in the world’s largest market.
Noticing the looks everyone was looking at him, Xu Liang smiled and shook his head.
"I have a lot of business in China, so I'm afraid I won't be able to become a South Korean citizen."
"That's such a shame."
Even though he said this, Quan San did not show any disappointed expression. He himself knew that this was unrealistic.
Quan San's face became serious.
"Mr. Xu, Hynix is the largest semiconductor company in South Korea and one of the largest semiconductor companies in the world. Its value is unparalleled.
During the growth of Hynix, the South Korean government has provided it with countless conveniences, including but not limited to land, funds and policies, so we must ensure that this company, which embodies the efforts of countless South Koreans, remains in South Korea.
As for loans, Hynix's debt is too high and we cannot provide loans unless guaranteed by Mr. Xu. "
Xu Liang smiled.
"I agree with what Minister Quan said, and I have no objection to Hynix staying in South Korea. But I have one thing to ask Minister Quan."
"Mr. Xu, please speak."
"If Hynix is acquired by a South Korean company with majority shares owned by South Koreans, will Minister Kwon agree to the Hynix transaction and the issuance of loans?"
"I don't quite understand what Mr. Xu means?"
Quan San couldn't guess what kind of medicine the man in front of him bought in his gourd.
Xu Liang waved.
Lu Hui beside him immediately handed over a document.
After Xu Liang took it and looked at it twice, Lu Hui took it and handed it to Quan Dian San.
The latter took a curious look.
This is a company registration document.
The name of the company is ‘Fund No. 3’.
The equity of Fund No. 3 is divided into two parts, with Sun Mingzhen holding 94% and Xu Liang holding 6%.
The company implements AB shares, and the execution rights of one B share are equivalent to 10 A shares.
Xu Liang holds 60% of the voting rights of Fund No. 3 through 6% of B shares, and actually controls the entire company.
There is also a copy of Sun Mingzhen's identity information in the information. She is indeed an authentic South Korean native.
"Mr. Xu, is Miss Sun Mingzhen the president of Hongmeng South Korea?"
"Mr. Robertson knows her?"
“I met Ms. Sun at a business reception and I was deeply impressed by Ms. Sun’s resolute work style and superb communication skills.
I wonder what the relationship between Miss Sun and Mr. Xu is...? "
Xu Liang smiled and said, "She is my fiancée."
As soon as this statement came out, everyone in the audience was shocked.
As the world's most famous financial and business tycoon in 2003, and of course the world's youngest and richest diamond king, many tabloids and even some global newspapers have reported on Xu Liang's personal marriage.
There are different opinions, but no real results.
As a result, now that I heard him admit from his own words that he has a fiancée, she is also from South Korea, which indeed many people would not expect.
According to normal thinking, the wife Xu Liang marries should be a well-matched and top-notch rich man. Only in this way will it be helpful to his career.
Quan Dang San felt his mouth was dry and asked quickly after calming down a little.
"Mr. Xu, are you serious?"
"Of course. Minister Quan can check the authenticity of this material. And with my position, there is no need to lie about this kind of thing."
"Mr. Xu misunderstood. We very much believe in your character. It's just that the incident was too sudden and we had some doubts for the moment. I'm sorry."
Xu Liang waved his hand, "Forget it. If the 'No. 3 Fund' is allowed to acquire Hynix, it will satisfy what Minister Quan said, allowing South Koreans to control South Korean enterprises. And I can also assure Minister Quan that Hynix will be controlled by Minister Quan in the future." My sons with South Korean nationality will inherit it and continue to keep it in South Korea."
After a pause, Xu Liang looked directly at Authority Three and continued in a deep voice.
"Minister Quan, I have made the greatest concession, and I hope you can accept our two conditions in the disagreement.
First, a US$1 billion loan; second, at most two people can join the board of directors. "
Quan Dang San pondered for a moment, "Mr. Xu, things happened too suddenly, and I can't give you an answer yet. So, I hope to discuss it first when we get back."
"Yes, no problem. But this acquisition has been delayed for too long. I don't want to delay it any longer, so I will only give you three days. If there is no news after three days, we will abandon this acquisition."
"Okay. Just three days." Authority Three agreed.
"Mr. Xu, Hynix's debt is very high. I would like to ask, if you acquire it, how do you plan to get it out of the quagmire?" Behenan Robertson of the Exchange Bank took over the topic.
As a foreigner and Hynix's largest creditor, he is more concerned about how Xu Liang can get Hynix out of the quagmire, which is related to whether tens of billions of dollars in loans can be recovered.
"I'm sorry, Mr. Robertson. This involves our business secrets, and we cannot disclose them to the outside world if we fail to acquire Hynix successfully."
Xu Liang refused directly.
In fact, his method is very simple, which is to invest in the Chinese market, which is the largest and fastest-growing chip market in the world. Rather than leaving it to Samsung, Micron, and Elpida, it is better for Hynix to enter early and seize share.
However, this general trend of corporate operations is not a great secret.
It is very difficult to convince Robertson with this.
Although the research department of Hongyan Fund has provided more detailed IT industry R\u0026D and cycles, as well as detailed strategies, most of them are superficial and cannot convince Robertson at all, and may even arouse the other party's contempt.
In this case, I won’t say anything else.
Behenan Robertson frowned, but didn't ask any more questions.
As Xu Liang, who was interested in Hynix and willing to pay, he was determined not to force the other party to leave.
At this point, after communicating the main issues, it was time to end the meeting.
Quan San, who originally planned to make acquaintance, ran into the big accident of Fund No. 3. He really had no intention of staying, so he left in a hurry after saying a few polite words.
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