Rebirth of Hong Kong's tycoons, shorting Eagle Sauce

Two days later, the data of Pan Am's assets was placed on Wang Lei's desk.

The assessments given by Cayman Capital and Sanshi Company were not optimistic.

Pan Am started to suffer long-term losses in the 1980s under the general environment of the Great Depression.

Under such circumstances, the management made a wrong prediction and continued to expand on a large scale.

Just before the company went bankrupt, Pan Am placed an order for five A320s with Airbus.

With most of its businesses losing money, its InterContinental Hotels Group became the only profitable project.

InterContinental Hotels was regarded as the "hotel of tomorrow" for its advanced facilities and innovative concepts at the time.

It was not only loved by business and tourist groups, but also sought after by a large number of celebrities.

What made Wang Lei distressed was that a few years ago, the current president sold part of InterContinental Hotels in order to solve the debt crisis.

InterContinental Hotels, which originally had 83 hotels in 47 countries around the world, now has only 23.

The remaining hotels are not optimistic either, with lax management and plummeting brand value.

"It's time and fate.

If Pan Am can survive these few years and the global economy picks up, it is entirely possible to turn losses into profits."

Hearing this, Quan Jingjing nodded.

The economy of the United States is indeed showing a trend of recovery, especially after the new Federal Reserve Chairman took office, a series of monetary policies have been implemented, which have stimulated the vitality of the capital market.

"Do you think it is profitable to buy the bankrupt Pan Am now?"

"Yes, after I buy Pan Am, I will complete the order with Airbus and put it into operation after getting the new aircraft.

I plan to let you run the hotel business.

I plan to hand over some of the aircraft to the newly established Sanshi Aviation Management Company."

"I will manage the InterContinental Hotel Company?"

Quan Jingjing was very surprised, but very pleasantly surprised.

Wang Lei was willing to let her manage the hotel, which showed that he had full trust in her.

"Well, I plan to use the InterContinental Hotel as the base for the activities of the Thousand-Faced Fox."

As an international hotel highly sought after by the upper class, the InterContinental Hotel is indeed very suitable for business.

"Then how can I get involved in this transaction?"

"Go and buy a hotel chain in Sakura Island, and then contact Citibank and say that you are interested in buying Pan Am's hotel business."

"Okay, I'll prepare it now."

A few days later, in the office of the president of Citibank.

Grasso looked at the asset transaction applications sent by the three companies with interest.

"It's really strange. Pan Am's assets have been listed for sale for almost half a year, and no airline is willing to take over. Now three airlines have come at once."

"President, it's a bit strange. It's understandable that Hoshino (Izumi Jingjing Hotel brand) is interested in InterContinental Hotel, but why do the other two buy these assets?

Are they all interested in Pan Am's aircraft and routes?"

Perhaps this is one of the reasons why they are willing to take over. "

Because of the oil crisis and the Great Depression, most airlines are not in a good situation.

So Pan Am's aircraft are not in demand.

"President, this is a good thing. Even if all Pan Am's assets are sold, it can't repay its debts.

If the three of them compete, maybe we can recover a little more losses. "

Grasso nodded, he also felt the same way.

"I will suggest that the government hold a judicial auction and invite the three of them to participate."

The result was a nearly unified response from the three parties:

"We are not here to be suckers. If it is a bidding, we will directly withdraw from the competition."

Grasso did not think much about it. Not every company is stupid and dumb.

These three companies are obviously here to pick up bargains, so he simply decided to hold a secret bid.

"We will sell it to whoever bids the highest."

No matter what, Pan Am cannot rot in their hands.

Wang Lei, who was far away in Hong Kong Island, immediately learned of Grasso's decision.

"Isn't the secret bid just what I want?"

"Grasso is still wary of us and has set a minimum price for us."

"Quanjing, what is the minimum price?"

"3 billion US dollars! "

"You are really cunning. In my opinion, Pan Am's 200 aircraft can only be sold for 4 billion US dollars at most, and you have to pay taxes when selling the aircraft."

Wang Lei whispered to Quan Jingjing while hugging him.

Quan Jingjing nodded:

"Okay, I will do it when the time comes."

...

The auction of Pan Am's assets was held in an InterContinental Hotel in Los Angeles.

I don't know who spread the news that Pan Am's assets will be auctioned.

Many investors who bought Pan Am gathered at the door of the hotel.

They are all poor people who failed in investment, and they don't want Pan Am to fall the most.A group of people.

The United States company went bankrupt, and the company's capital was entrusted to auction.

The stocks in the hands of shareholders usually become a piece of waste paper!

Because according to the bankruptcy law of the United States, when the liabilities are greater than the assets, the shareholder investment can be returned.

In addition, after the company's assets are liquidated and the secured creditors and unsecured creditors are repaid first, there is often little left.

So these shareholders very much hope that a large company can reorganize Pan American's business.

In this way, Pan American can still operate as usual, and the stock can still be traded, so they have the hope of making a comeback.

This is also why the United States company often survives for a hundred years after applying for bankruptcy.

Because it involves their own interests, many shareholders raised signs:

"Reorganization! Resumption!"

"Reorganization! Resumption!"

The pressure on the local officials who took over the commission doubled, and Grasso, the largest secured creditor, frowned slightly when he saw this scene.

"Just a group of small shareholders, they can't decide anything."

But the overwhelming pressure still made the official representative in charge of the auction a little cautious.

"Sir, if possible, I hope that part of the proceeds from the auction will be used to compensate for the losses of these shareholders."

Grasso responded: "Okay, let's start the auction as soon as possible."

Ni Pingnan and his assistants looked at the scene at the entrance of the hotel with interest.

"This is also the most unique landscape in the United States."

The assistant who didn't know the inside story analyzed seriously:

"Mr. Ni, I have a hunch that today's bidding will not be so peaceful."

"Let's go into the venue. No matter what, we must go all out!"

Next, Robert, the representative of Cayman Capital, also arrived as scheduled.

His appearance made Grasso and his group stand up to greet him.

Cayman Capital is now one of the top ten investment banks on Wall Street. Grasso, as the host, seemed very enthusiastic.

"Brother, you must go all out this time. Don't let the assets of the United States fall into the hands of a group of outsiders."

Citibank now owns 70% of Pan Am's shares. It is a creditor and the largest shareholder of Pan Am.

When the Hoshino Group represented by Quan Jingjing came out last, it immediately attracted the attention of the whole audience.

Ni Pingnan's assistant couldn't help but sigh:

"The women in Sakura Island are so beautiful."

Who knew that Quan Jingjing actually understood what he said and responded with a smile:

"Thank you for your compliment."

The assistant was stunned and suddenly felt so embarrassed that he wanted to find a hole to crawl into.