Reborn Capital Empire

Chapter 245 Internal Discussion

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"Have you read all the information I gave you?"

Guo Shouyun's words instantly changed the atmosphere in the car.

After everyone glanced at each other, Rich Kawsey, the chief risk officer of Pan Pacific Group, said first: "Boss, who came from this 'solution to Enron's predicament'?"

"What? Isn't it feasible?"

"No, on the contrary, the feasibility is too high. If you don't have a full understanding of Enron's internal predicament, and you are familiar with its financial, personnel, market and other inevitable factors of the company's development, it is impossible to write such a detailed plan. . But it is so detailed and feasible that it is curious!" Rich Kawsey said.

"The most important thing is that the relationship between the boss and Enron is now known to everyone, so you came up with such a plan to surprise everyone!" The company's non-executive director Barber Douglas laughed.

Among the people present, he was the oldest. During this period of time, he has been using his contacts in the US energy industry to contribute to the merger and acquisition of Pan Pacific Group, and he has also used his influence in the former Pacific Power and Gas employees to support Jonathan Weil's integration of the company, which is a strong guarantee. The internal stability of the company, so everyone respects him, including Guo Shouyun.

After his eyes swept across everyone's faces, Guo Shouyun smiled.

"I will keep the author of this plan a secret. Now we are discussing: if the above content is implemented, how feasible is it based on your professionalism and industry experience?"

"Let me say it first!"

Seeing that everyone did not speak, Barber Douglas said: "Because the content of the data is too large and complex, and the time is relatively short, if you look at the entire solution, I can't give a very accurate answer at present. However, from the perspective of the solution to Enron International's dilemma, the feasibility is still very high, and the solution covers the country's politics, economy, culture, as well as the prediction of the direction of the future decade, combined with the delivery Model, Kelly optimization and other reasoning formulas, the success rate of Enron International's solution to the dilemma is over 80%."

"But there is one point. The success of the whole program is based on abundant financial support. The total asset value of Enron International is close to 200 billion US dollars, and its liabilities are 13.5 billion US dollars, and more than 60% of its assets are in deficit, especially India's Dabor. Project. From the perspective of the plan, if you want to revitalize these assets, you need to invest at least 300 million US dollars. Moreover, this is only Enron International. If you count other assets of Enron, I am afraid it will exceed 100 million US dollars. Now the largest The question is: Is it worth investing so much money on the basis of the viability of the whole plan?!”

After listening and thinking for a moment, Guo Shouyun nodded.

"Any more?"

"This is the biggest problem I can think of right now. If this problem can be solved, it doesn't matter whether the rest of the plan is implemented or not!" Balbey Douglas shook his head.

"Where are the others?" Guo Shouyun continued.

"Boss, I have some opinions on this plan!"

"Please say!"

After Ricky Causey nodded, "As the company's chief risk officer, from my point of view, the risk of acquiring Enron is too great, and it is difficult to obtain a satisfactory result from the measurement of input and output. From an investment perspective, the It is also difficult to come up with a reassuring margin of safety, combining value investing theory with the Kelly model. So, from a safety and risk perspective, I am against this acquisition!”

"I agree with Ritchie's point of view." Chuck Belden, the company's chief human resources officer, echoed, "Three months from the company's establishment to the present, we have acquired seven power and natural gas companies at the same time, and we are still working with them. The Southern Company, the fifth largest energy utility company in the country, has approached the company. The negotiations are very smooth at present. If it is successful, we will have to provide at least $4.5 billion in cash and $300 million in bank loans if we do not pay equity. I don't know how much capital the boss has in his hands, but after completing this acquisition, I'm afraid it will be difficult to afford the acquisition of Enron. Moreover, compared to Enron, Southern Company is obviously a more worthy acquisition target. The losses are not as severe as Enron!"

Now in the field of U.S. public utilities, there is no doubt that the newly born Pan Pacific Energy Group has 18.38 million electricity users, 8.97 million natural gas users, 21,893 megawatts of installed capacity, and 178,000 miles of natural gas distribution and retail pipelines, and a total of 1.3oo billion US dollars. Assets come first.

The second place is Duke Energy, with users and electricity production equivalent to 65% of the Pan Pacific Group.

In third place is Exelon, with various indicators equivalent to 51% of the Pan Pacific. In fourth place is Mindoni, which is roughly equivalent to 46.7% of the Pan Pacific. The fifth place is the Southern Company, which is roughly equivalent to 40% of the Pan Pacific Group.

"If I remember correctly, Southern Company's main customers are located in seven southern states such as Georgia, Mississippi, Alabama, Louisiana, etc., which are not the hardest hit areas of California's energy crisis. They agreed to sell the company to us?" Guo Shouyunwei frowned.

When Barber Douglas gave him the merger and acquisition information of the Southern Company, Guo Shouyun glanced at it and didn't care too much. At the time, he thought the acquisition was not too successful. For now, it seems that everything is going well.

Barbey Douglas, who has the most say in this matter, said: "The Southern Company has 12 subsidiaries, in addition to the production, distribution and service of electricity and natural gas, there are two companies, Southern Telecom and Southern Telephone. After the Starq crisis broke out, technology, telecommunications, and Internet companies were in recession, and the telecommunications companies under the Southern Company also suffered heavy losses. Therefore, the company's shareholders have the vision to sell the company's shares to stop losses, especially when we acquired it in cash. At one point, Goldman Sachs, Morgan, Citi, Bank of America are all actively brokering the deal, and while their unusual enthusiasm is questionable about the motives behind it, there's no question that they've made the acquisition easier. "

Guo Shouyun narrowed his eyes slightly. The gambling agreements he signed with Goldman Sachs, Seymour, Citi and Bank of America were kept secret, and it was normal for them to not know about Barber Douglas. However, Guo Shouyun's motives for Goldman Sachs and Seymour are like a pattern on the palm of his hand. Likewise, they must have guessed what they were thinking.

To put it simply, everyone is consuming the money. Goldman Sachs and Morgan want to use more companies with poor profits or even losses to consume the funds in Guo Shouyun's hands. And Guo Shouyun hopes to take advantage of the rare opportunity, through their help, to make large-scale mergers and acquisitions, and to establish Pan Pacific Group's position in the US energy market in one fell swoop.

If in the end, Guo Shouyun holds the bottom line of "loss of 200 million US dollars in half a year", then he will win this "war". Correspondingly, Goldman Sachs, Morgan, Citi and Bank of America have no financial loss, but the consumption of time and energy is also a loss. Conversely, if Guo Shouyun does not hold the bottom line, then he will lose Pacific Energy Group. Goldman Sachs, Morgan, Citi and Bank of America would earn dozens of times more. This is the charm of gambling.

Of course, this bet seems a little unfair to Guo Shouyun, and he has significantly more chips. Correspondingly, the gains are not too great. However, this is also based on the difference in strength between the two sides. Goldman Sachs, Seymour, Citi and Bank of America are far more powerful than him.

If you want to borrow strength from the strong, you will naturally have to pay a big price, otherwise why would they help you? !

"No matter what Goldman Sachs, Morgan, Citi and Bank of America have in mind, our stated strategy of acquiring Southern Bank remains unchanged. On the basis of strict scrutiny, everything will continue as usual!" Guo Shouyun continued, "Next is Enron. Question, I want you to put aside your financial concerns and discuss the feasibility of the entire plan with Phoenix executives in detail? And what price should we pay if we acquire ~www.wuxiaspot.com~?"

"clear!"

The crowd nodded.

"Boss, we're here!" Wendy reminded.

"Come on, let's get off!"

After bringing the senior management of the Pan Pacific Group to meet the senior management of the Phoenix company, everyone started a discussion in the conference room of the Phoenix company.

Basically everyone has the same question: Is it worth paying billions to buy a bunch of troubled assets? After all, although Enron's surface assets are attractive, the problems inside are too great, and the cost of revitalizing the assets is too high.

If it is the same investment, they can build a positive return portfolio.

"If you only consider investment and income, everyone's concerns are fine. But one thing is, not all assets are measured in money, because there is also a time cost. An international project, from review to project approval, to funding It takes at least two to three years for preparation and construction. To revitalize an asset, relatively speaking, although the capital investment may be higher, the time cost is much lower. More importantly, not all projects All require excessive revitalization funds.”

"In addition, there are some assets that are not even just money can solve. For example, Enron's most valuable northern natural gas pipeline. This 3.5-mile long, nationwide natural gas pipeline is Enron's most valuable strategic asset. It is almost It cannot be replicated! By taking it down, Pan Pacific Group will have mastered the main artery of natural gas transportation in the United States and the right to speak in the industry. From this point of view, we can pay a higher price. After all, money can be made at any time, but opportunities are not. Must be there often!"

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