Reverse Rebirth 1990

Chapter 1278 1296 [Aircraft Carrier in the Plutocratic World]
"Did I hear it wrong?" Gu Benmao looked surprised, "The Lotte Group is going to be merged into the Song Corporation?"

"Impossible! Absolutely impossible! It's unbelievable that a group as big as Lotte would merge into the Song Corporation without filing for bankruptcy!" Zhao Chongxun also yelled out of composure.

At this moment, Cui Taiyuan squinted his eyes, stared at the stage, and then spit out a sentence: "We were tricked by Song!"

Being tricked?
And still played the three major chaebols in South Korea at once?

This is absolutely unbelievable.

"Song took advantage of us from the very beginning. When we thought we had the chance to carve up the Lotte Group beautifully, the Song family invested in Lotte's overall merger and acquisition behind the scenes!" Guessed the core.

"How is it possible? It would cost at least three billion US dollars to acquire Lotte. Song has no cash flow, so how can he have so much money?" asked Benmao Gu.

"Hmph! Don't forget, it is said that the Elephant Group was also acquired by the Song family!" Cui Taiyuan's eyes flickered, "And it took out 20 billion US dollars in real money!"

"Hiss! Are those rumors true?" Gu Benmao and Zhao Chongxun couldn't help taking a breath.

"The acquisition of Elephant took out 20 billion, and the acquisition of Lotte took out another 30 billion. This is a total of 50 billion US dollars. How did the Song Group do it?" No matter how hard the three chaebols think about it, they still can't figure it out.

Look at the podium at this time——
After Xin Dongbin announced that the Lotte Group would not go bankrupt and would be merged into the Song Group and continue to operate, it immediately caused an uproar at the scene.

Those South Korean media reporters are crazy.

"What do you mean? Doesn't this mean that Song bought Lotte in disguise?"

"Does the Song Group have such great capabilities? They even annexed Lotte in one go?"

"Unbelievable! Incredible!"

Facing the horrified scene, Xin Dongbin's expression was still cold, and he continued to speak: "The second thing, I announce that from now on, I, Xin Dongbin, will officially step down from the position of president of Lotte, and I will hand it over to my elder brother Xin Dongxiong!"

"Wow!" There was another commotion at the scene.

"Xin Dongbin resigned as chairman? He has only been the chairman of Lotte Group not long ago!"

"Is Xin Dongxiong going to be the president of Lotte? I heard that he is the son of the president of the Song family!"

These Koreans were once again so surprised that their jaws almost dropped.

At this time, Xin Dongxiong had already replaced Xin Dongbin on the podium, glanced majestically for a week, and then said: "I, Xin Dongxiong! I will officially take over as the chairman of Lotte Group from today onwards. Please take care of me in the future!" After finishing speaking, Bow slightly to the government officials, business celebrities and media reporters in the audience.

clap clap clap!
I don't know who applauded. Immediately afterwards, the entire press conference hall burst into applause.

this moment---
Determined the fate of the Lotte Group has long been irreversible!

……

The news that Lotte Group did not file for bankruptcy, but announced its merger into the Song Group soon spread, detonating the entire South Korea.

No one could have imagined that the result of Lotte Group would be like this.

It was even more unexpected that Xin Dongbin would take the initiative to abdicate and give the chairmanship to his elder brother Xin Dongxiong.

To put it bluntly, the Song family annexed Lotte, that is to say, Song Zhichao, the chairman of the Song Group, will be the real behind-the-scenes boss of the Lotte Group.

In this regard, not only Gu Benmoo, Zhao Chongxun, Cui Taiyuan and others felt incredible, but also many Korean media were puzzled-how did the Song family do it?
After all, it takes US$30 billion to win Lotte, and US$20 billion to win Elephant. At such a juncture, how can the Song Group get so much cash flow?

……

Indeed, before Song Zhichao took over the Elephant Group, he had no money.

To be precise, when Song Zhichao came to South Korea, he almost spent all the cash on hand in order to acquire branches of groups such as Samsung and Hyundai.

But this time, in order to take down the two major groups of Elephant and Lotte, Song Zhichao did one thing, that is, sold all the Korean branches that had just been acquired less than a year ago!

When Song Zhichao bought these companies, he spent almost 60 billion U.S. dollars. Now he sold them all, but only sold them for 57 billion U.S. dollars, a full loss of [-] million U.S. dollars.

For the buyers of these assets --- Samsung Group and Hyundai Group, as well as other chaebols, this time undoubtedly took advantage of it.

Back then, these chaebol groups suddenly encountered South Korea's once-in-a-century economic crisis and were short of funds for a while, so they had to sell their assets to Song Zhichao aggrievedly.

It can be said that this is a heart disease for them.

It is also a disgrace to them.

Now, although South Korea's domestic economy has not improved, and the international situation is not good, the capital flow of these chaebol groups has already been revitalized, and the embarrassment of selling assets at a low price will not appear again.

It was at this time that Song Zhichao, the chairman of the Song Group, suddenly made a proposal that they could not refuse - I will sell you the assets I bought from you, are you willing?

willing!

Why would you not want to?
Whether it is Samsung, Hyundai, or other groups, the first reaction when hearing this news is to raise your hands in favor!

Of course, I agree in my heart. On the surface, they still have to put on a good posture. The price can only be bought after the price is negotiated. It is impossible for you, Song Zhichao, to sell at a high price.

So, after some negotiations, Song Zhichao finally decided to lose [-] million U.S. dollars and return all the assets under the Song family to Samsung, Hyundai, and other groups.

In other words, Song Group not only failed to make money, but lost [-] million U.S. dollars in just over half a year from buying to selling.

It's a fool, it is!
Samsung and Hyundai commented on Song Zhichao in this way.

How can there be such a business?

It seems that this Song Zhichao is also in a hurry to spend money now, but he doesn't know what he wants to cash in so much cash for?
As South Korea's leading chaebol, Samsung and Hyundai feel very satisfied with this deal.

It was easy to get back what originally belonged to him, and he made a small profit after calculation.

This business is hard to do!

Song Zhichao was extremely satisfied when he got the cash here.

A loss of [-] million?
And who knows, Song Zhichao has basically emptied out all the core things of those branches.

Not to mention anything else, let’s just talk about Samsung Electronics. Before Song Zhichao returned it to the Samsung Group, he had already independent the core technology of Samsung Electronics’ research and development and applied for a patent. Now what Samsung bought back is actually just an empty shell.

There is also Hyundai Petrochemical. Under Song Zhichao's arrangement, this branch can only sign cooperation agreements with the three major oil fields in Siberia, Russia in the future, and sell crude oil from the three major oil fields.But these three oil fields belong to Song Zhichao.

There is also the Hyundai Transportation Company, which Song Zhichao secretly dismantled and controlled seven or eight important transportation lines in the entire transportation network, and the rest were all returned to the Hyundai Group.

In other words, under Song Zhichao's special arrangement, the "essence" of these branches has been emptied, and the replacements for Samsung and Hyundai are all empty shells.

Soon, Samsung and Hyundai will know the secret.

It's a pity that at this time Samsung and Hyundai are still complacent about their victory this time, and they don't know what Song Zhichao is up to.

in turn---
After Song Zhichao got rid of those empty shell subsidiaries, he directly used the money to raise 20 billion yuan for the Elephant Group and 30 billion yuan for the Lotte Group—in one breath, he swallowed the once famous two major chaebols in South Korea!

It wasn't until this time that complacent chaebol groups such as Samsung and Hyundai woke up——
what happened?
Song Zhichao took the money they gave and managed to deal with Daxiang and Lotte?

In other words, the reason why Song Zhichao wanted to sell the company was to annex these two big chaebols?

So what did they do?
He bought a lot of empty shell subsidiaries, thinking that he had made a full [-] million US dollars, but looking back, the Song family was already unattainable!

It can be said---
Song Zhichao unknowingly became the final big winner of this business war.

Whether it is Samsung, Hyundai, or LG, SK and Hanjin Group, they all helped him make a wedding dress.

Despite the merger of Elephant and Lotte, the Song Group has grown from a new chaebol to an "aircraft carrier" in the chaebol world.

(End of this chapter)