Yu Li's childhood sweetheart and I in the courtyard

Chapter 92 Acquisition of Hang Seng Bank
The time came to January 65, 1. Yu Wei woke up as soon as the registration sound sounded in the morning.

Gently removed Yu Li's right hand holding him, and then removed the long legs that were on him, and then got up immediately.

Starting today, the big event of the Hong Kong Huazi Bank being run will begin.And why this big incident happened, and whether there is a mastermind behind the scenes, Yu Wei has already figured it out.

But his goal is to buy Hang Seng Bank.So he had no choice but to act as if nothing had happened and wait and see what happened.

A deer and two tigers are both targeted, it depends on who has the upper hand and whose means are clever.

Today, through Luo Luocheng's relationship with the shareholders of Hang Seng Bank, and Luo Luocheng's help, Yu Wei tried several times to acquire Hang Seng Bank.

Yu Wei has left an impression on the shareholders of Hang Seng Bank.

In addition, when Yu Wei's family travels, the family cars are all Rolls-Royces with bulletproof glass, and Mercedes-Benz is used as a security car.

And in the past two months, as Yu Wei's Phoenix Post-it Notes and Phoenix luggage company have become famous all over the world, Yu Wei has also become famous in Xiangjiang!
These bankers are also happy to contact Yu Wei.Over the past few months, with the help of Luo Luocheng, the shareholders of Hang Seng Bank have also had morning tea with Yu Wei several times.

In addition, the most important thing is that Yu Wei's post-it note company and luggage company have both opened accounts in Hang Seng Bank, and the company's capital transactions are all arranged in Hang Seng Bank.

With the current rapid growth of the business volume of the two companies, Yu Wei is already a major customer of the bank.

Sure enough, after the check of about 700 million US dollars issued by Mingde Bank was rejected, some people spread the news at noon. After going to work in the afternoon, more and more people went to Mingde Bank to withdraw their deposits.

In the afternoon, various small newspapers in Xiangjiang distributed newspapers one after another, reporting on the run on Mingde Bank.

And after hearing the news, more and more depositors came to withdraw money from all directions in Xiangjiang.

On January 1, Mingde Bank finally couldn't support it anymore, and announced its bankruptcy on the same day, and the Hong Kong government took over.

With the help of people with good intentions, depositors began to lose confidence in Chinese-funded banks, and the wave of bank runs began to spread to other Chinese-funded banks!

Everywhere in Xiangjiang, depositors can be seen queuing up overnight at the entrance of Huazi Bank to withdraw their money.

Such as Guangdong Trust Bank, Hang Seng Bank, Guangan Bank, Dao Heng Bank, Wing Lung Bank and so on.

Afterwards, Hong Kong, Shanghai, Hong Kong and Shanghai Banking Corporation and Standard Chartered Bank issued a statement to give unlimited support to Hong Kong’s Chinese-funded banks. In addition, the Hong Kong government took a number of measures. By February 2, the turmoil had temporarily subsided.

Yu Wei has been watching with a cold eye, knowing that the squeeze incident is not over yet.

So on the one hand, Yu Wei asked Luo Luocheng to help, to see if any of the shareholders of Hang Seng Bank had contacted HSBC.

On the other hand, let Ye Qiang arrange manpower to keep an eye on HSBC and Standard Chartered Bank.

The [-] million Hong Kong dollars in cash previously exchanged for part of the British pound were also transported back to the No. [-] basement storage room of Repulse Bay by Yu Wei with various excuses for storage.

After transporting everything back to the basement, Yu Wei and his five wives went to see the neatly stacked [-] million Hong Kong dollars in cash piled up like a hill.

When the five people saw the pile of money like a hill, their eyes were straightened, and they didn't come back to their senses for a long time.

All five of them knew that Yu Weilu brought back cash one after another during this period of time, but they didn't expect the amount to be so huge!

In the following days, apart from knowing the situation of all parties every day, Yu Wei waited for the arrival of the final moment of the decisive battle.

The subsequent situation was similar to what I understood in the previous life.

Until March, some small newspapers still published some unfounded rumors that slandered Hong Kong Huazi Bank, and Hang Seng Bank was targeted as the number one target!

During the period, Ye Qiang informed Yu Wei that many major customers of Hang Seng quietly canceled their accounts.

By the beginning of April, the run broke out again, and Hang Seng Bank was the first to bear the brunt.

The first thing that happened was the Aberdeen branch.At that time, a large number of customers flocked to withdraw their deposits. As the general manager, He Tian quickly advised not to rush to withdraw funds.

And Ye Qiang took photos of these people in contact with HSBC executives before.

Superintendent Han Sen was also among them, but he left after asking He Tian to sign a guarantee.

In the head office, the crowds of people withdrawing cash extended to the Hong Kong clubhouse in Statue Square.

HSBC, as the quasi-central bank of Hong Kong, has once again expressed its support for Hang Seng Bank no matter what the purpose is.

And appointed HSBC staff to be stationed in the lobby of Hang Seng Head Office to prove that there is sufficient cash supply, stacks of banknotes are all over the lobby.

However, the situation shows no signs of improving.Hang Seng Bank lost 8 million Hong Kong dollars in deposits in one day, accounting for one-sixth of the bank's total deposits.

In the next few days, they were squeezed out one after another. In less than a week, they were squeezed out and took away a huge amount of 2 million Hong Kong dollars.

Faced with this dilemma, chairman He Shanheng held a board meeting to discuss countermeasures.Four solutions followed:

Accept Chase Bank's aid; go out of business and be taken over by the government; seek assistance from HSBC; accept Yu Wei's acquisition!
After many discussions, among them, due to the help of Luo Luocheng, the resolution of the board of directors was different from the previous life, and it was decided to choose Yu Wei and HSBC for negotiation.

Li Guowei, who is proficient in English, has the full authority to handle it.

Afterwards, it was reported to the Financial Secretary of Hong Kong, and after obtaining the approval of the Secretary Guo Bowei, Li Guowei began to prepare for negotiations with HSBC and Yu Wei.

The night before the negotiation, all shareholders of Hang Seng received a large document bag, which contained photos of HSBC Taipan and Standard Chartered Taipan meeting in different places, and marked the date.

There are photos of HSBC executives contacting many major customers of Hang Seng. Most of the people in the photos came to withdraw money and close their accounts a few days ago.

There are also photos of HSBC executives interacting with clients of Centennial Bank.

That night, after the shareholders of Hang Seng communicated by phone, they told Li Guowei to negotiate with HSBC first and see what conditions HSBC offered.

The next day, Li Guowei made an appointment with HSBC to negotiate.

In the negotiations, first of all, the two sides disagreed too much on the total value of Hang Seng.HSBC reckons Hang Seng is worth HK$6 million.

However, Hang Seng believes that its total value exceeds 1 million Hong Kong dollars.So on the same day, Li Guowei suspended the negotiation with HSBC according to the instructions of the board of directors, and asked Yu Wei to negotiate the next day.

The next day, Yu Wei took six members of the business management team to Hang Seng Bank.Some of these six people are good at finance, some are good at law, and some are good at acquisition negotiations.

After the two parties sat down, Li Guowei said directly: "Yu Sheng, first of all, the total value of our bank is [-] million is a prerequisite. Only with this understanding can we continue to talk. What do you think?"

"Lisheng, I agree with this point, let's talk on this premise! In addition, I want to ask if all of you shareholders are in the bank today?" Yu Wei said.

"Yes, these two days are a critical period, and they are all in the meeting room upstairs. Don't know how to live?" Li Guowei asked.

"Well, Lisheng, let them discuss other specific details. I want to go with you to visit He Sheng and the others. I will talk about the specifics after meeting them!" Yu Wei replied.

"Okay, Yu Sheng, wait a moment, I'll make a phone call first." Li Guowei was stunned for a moment, but soon recovered, and after replying to Yu Wei's words, he went out to make a phone call.

Soon, Li Guowei came back and said to Wei: "Yu Sheng, Chairman He has an invitation, and all shareholders are also here. They invited you to go up and drink tea!"

"Okay, thank you! Lisheng, let's go up now!"

After Yu Wei went up, outsiders did not know the specific content of the conversation.But early the next morning, Hang Seng Bank announced a change of owner.

Yu Wei bid 2000 million Hong Kong dollars to acquire Hang Seng Bank wholly!Li Quowei promoted to general manager of Hang Seng Bank.

The remaining shareholders of the original Hang Seng were all transferred to honorary directors!
On the morning when Hang Seng Bank issued the notice, Yu Wei deposited [-] million Hong Kong dollars in cash at Hang Seng Bank.

He piled [-] million cash in the bank lobby and covered it with a large iron cage.Ye Qiang brought [-] security personnel to guard the lobby and surrounding areas of the bank.

After Xiangjiang Daily came to take pictures, other newspapers came to take pictures, and Hang Seng Bank would not refuse anyone who came to take pictures!

The depositors who came to withdraw their money gradually dispersed after seeing such a visually impactful cash hill!

That night, the headlines of all the big and small newspapers in Xiangjiang published photos of [-] million cash piled up into hills.

So far, the Hang Seng liquidation incident has come to an end, and He Shanheng and other original shareholders have also stepped in to help appease the employees.

Since then, many depositors have started to deposit money back into Hang Seng Bank.

In the next few days, several Chinese-funded banks that were taken over by the Hong Kong government and that were not yet bankrupt were acquired. The largest shareholder was Yu Wei, accounting for 51% of the shares, and the remaining shareholders were former Hang Seng Bank shareholders.

The reorganized bank was named Xiangjiang Phoenix Bank, with He Shanheng as the chairman.It belongs to Hang Seng Bank and is a subsidiary bank of Hang Seng Bank.

Among them, Phoenix Bank has shareholders withdrawing their shares, and Yu Wei has the exclusive right of first refusal alone, and the agreed price is that the value of the shareholder's shares at the time of withdrawal increases by one to become the transaction price.

So far, the run on Chinese banks has finally come to an end.But the people behind the scenes were extremely angry!
The cooked duck flew away, and a lot of time, energy, and financial resources were spent, trying to curb the rapid development of Chinese-funded banks, and get some Chinese-funded banks, and then harvest!

In the end, he was cut off by Yu Wei, and he didn't even have time to react.By the time the news is known, the dust has settled!
So, people with a heart began to think, take advantage of the current chaotic period in Xiangjiang, and give Yu Wei a look!
(End of this chapter)