Started from Hong Kong Island

Chapter 268 267 [Yonggao Company]

Li Wendi guessed that Deng Ji Real Estate Company had some financial problems, and Deng Jiaren was anxious to solve them, so he had no choice but to sell properties and raise funds because Deng Jiaren was as greedy as Deng Jialuo. However, Deng Jiaren could distinguish between the "big king" and the "big king" and would not act excessively.

Not very good properties naturally refer to properties of poor quality. These things cannot be sold for much money. Deng Jiaren must have other bad ideas.

"Wendy, the real estate market is gradually recovering. If it weren't for some minor problems with Deng's Real Estate Company, I would not sell it at this time. I would hold on to it and wait until the market is booming, and I will definitely make a fortune." Deng Jiaren said shamelessly.

A terrible lie is a half-truth that seems to make sense.

"Brother Jiaren, you have a point!" Li Wendi changed the subject and said, "However, there are many companies on the verge of bankruptcy in the market, and they have some good properties. So why don't I spend money to acquire these companies that are of great benefit to the company?"

Deng Jiaren smiled awkwardly and said, "Because of our relationship, Wendi, you promised it in front of my dad."

"That favor can't be used many times. Brother Jiaren, have you really thought it through?" Of course Li Wendi didn't care much. He was just repaying a favor. It would be a good thing for him to repay a little now to avoid big trouble in the future.

Deng Jiaren restrained his expression and nodded seriously. "These properties don't need a premium, just sell them at the market price, but I need a one-time payment."

"How much is it approximately? I need to see if the funds I have are sufficient?" Li Wendi said lightly.

"There are 7.3 square feet of land in Wong Tai Sin, 4.3 square feet of land in Hung Hom, and some warehouses in Sai Wan. There are 6 in total, with an area of ​​about 8 square feet." Deng Jiaren continued, "According to the current market price, the total is about 660 million."

The land in Hung Hom District is just wasteland and has no value at all. The land in Wong Tai Sin District is still worth some money, about 20 to 30 yuan per square foot. As for the warehouses in Sai Wan, they are the most valuable things among them. Although they are not as good as the warehouses in Sheung Wan, they can be developed barely.

Li Wendi nodded slightly. This time, Deng Jiaren was still honest and did not dare to ask for a high price.

"Okay, I will send someone to your company to sign the contract in two days, and the funds will arrive the next day." Li Wendi held these lands in his hands, and when the land in Hong Kong Island became tight in the 80s, he could still make a lot of money from the land.

Late September

Li Wendi came to Wenyan Construction Company. Since Zhang Yan had spent most of his energy on the asset restructuring of Luckin Real Estate, he had relaxed the management of Wenyan Construction Company for a long time. Although there were managers to manage it, there would be no problems in the short term, but Li Wendi could not ignore it. After all, no one could be trusted too much.

The office was filled with talents originally recruited from Poly Construction Company, Hong Tingshan and Xie Changxing, as well as talents recruited from other companies, Fang Junqi and He Wenjing.

"Mr. Li, the company's construction engineering teams have been dispatched. There are 13 sites to be developed, the largest of which is the Saixihu site in North Point. According to the current progress, the Saixihu project can be developed for three years." Hong Tingshan reported. He is currently responsible for the overall coordination of construction work.

"How is the warehouse demolition and reconstruction project in Sheung Wan going? When will it be completed?" Li Wendi asked while flipping through the documents.

The real estate market is recovering, and the Central area is the first to become hot. Sheung Wan is adjacent to Central. Although it is not as good as Wan Chai, it is worse than Causeway Bay now. Therefore, Li Wendi wants to recover the rent as soon as possible. If there is a shortage of funds, he will also consider selling.

Xie Changxing responded, "The demolition work was completed two months ago, and now we are entering the normal construction process. We expect to complete the first phase of the building by the end of the year, and people can move in around March next year."

"Okay!" Li Wendi asked about other project projects, including the Baguio Bay project jointly developed with New World Development Company.

As for the Saixihu project, it may take until the second half of next year to complete the topping-out of the first phase, and pre-sales can only start the year after.

Although Hong Kong real estate developers have the practice of selling pre-sale properties, Li Wendi knows that most of these properties fall into the hands of speculators and rarely fall into the hands of citizens in need, so Li Wendi might as well let himself earn the difference.

As for the problem of funds not being able to be recovered in time, Li Wendi doesn't care too much for the time being because the funds are still sufficient.

"Wenyan Construction Company's temporary business will be to assist all my companies in real estate projects. We don't have the extra resources to take on outside orders, so the company still needs to expand. If you have good talents to recommend, the company will also give corresponding rewards." Li Wendi painted another big picture.

He doesn't mind the fact that Wen Yan Construction Company is surrounded by many other companies. What he fears most is that Wen Yan Construction Company will not be able to develop better. His goal is to make Wen Yan Construction Company catch up with the four major construction companies in Hong Kong, and even challenge their position.

August is approaching quietly.

Li Wendi noticed the news of "the establishment of ATV" from the newspapers. Hong Kong has officially entered the era of three TV stations competing with each other. Although TVB is the only dominant station, ATV also has a market share of nearly 20%. Now with the addition of ATV, it may take away some of the market share.

The one that was hit the hardest should be Rediffusion Television, not TVB.

Many critics believe that the emergence of ATV will break the confrontation between the two stations. Some people disagree and believe that TVB is extremely powerful and has the largest number of users, and the two stations cannot shake TVB's position.

Li Wendi knew very well that Jiayi TV was subject to too many restrictions by the Hong Kong government and would not last long. After all, which TV station would broadcast educational public welfare programs during prime time? Audiences would not pay to watch these. Therefore, Jiayi TV was doomed to close down quickly from the moment it was established.

Li Wendi once wanted to acquire shares in TVB, but unfortunately Wills of Hutchison Group did not accept the acquisition proposal at all. If he wanted to get shares from other people, it would be very difficult.

He then turned his attention to ATV. If he had sufficient funds, he might be able to take over this tool to increase his own reputation. However, he certainly did not have the ability to take over ATV now.

At this time, Zhang Wentao knocked on the door anxiously and said in a gruff voice, "Boss, Cheung Kong Industries plans to borrow 7000 million from HSBC. They should be planning to launch a large project or directly acquire a medium-sized company."

Under Li Wendi's instructions, Zhang Wentao has always paid close attention to Cheung Kong Holdings and would report any changes in a timely manner.

A company instantly popped up in Li Wendi's mind: Yonggao. According to the current situation, Cheung Kong Holdings does not need too much loan. This money will only be used for large-scale acquisitions.

He currently has nearly 3000 million in cash, but the acquisition of Yonggao Company requires about 1.2 million in funds. The gap is as much as 9000 million. This makes Li Wendi a little upset. It's not that he can't borrow so much money, but that such a huge loan amount requires terrible interest.

However, if the opportunity is missed, the hotel land covering an area of ​​4 square feet in Central will belong to Cheung Kong Holdings.

Li Wendi remembered that Cheung Kong Holdings would acquire Yonggao Company in 76, but now they actually want to do it. It seems that a butterfly effect has occurred, which has brought forward the timing.

"If it is a takeover case, does Changxin Real Estate have the ability to stop it? Or just intercept it directly?" Li Wendi asked solemnly.

Unexpectedly, Zhang Wentao shook his head and said, "Changxin Real Estate has no way to raise 7000 million in cash, and this is a very large acquisition. The funds required should be more than 7000 million, and it is very likely to be over million."

Since even Zhang Wentao thought so, Li Wendi was even more certain that Li Jiacheng wanted to take action against Yonggao Company.

All the subsidiaries under it have their own offensive directions and the funds are not so sufficient. It will take a long time to raise such a large sum of money rashly. The only way to obtain it immediately is to find a securities company to assist in the acquisition.

So Li Wendi left Zhang Wentao and immediately went to HSBC, found the vice president and asked him to help make the connection.

Li Wendi wanted to find HSBC's subsidiary, Waldo Company, to be responsible for the acquisition.

Fortunately, Li Wendi had close dealings with HSBC Bank, and the flow of funds in his account had exceeded 6 million yuan. He could borrow 1 million yuan to carry out the acquisition, which would allow him to cut down on some processes. Finally, the vice president guaranteed that the process would be completed within three days.

At the same time, the vice president helped to make an appointment with the senior management of Huoduli Company, and Huoduli Company readily agreed to the business.

In order to seize the initiative, Li Wendi quickly made an appointment to meet with the two bosses of Yonggao Company.

Hilton Central Hotel

"Mr. Li, how did you know that we were willing to sell Yonggao Company?" Joe John asked curiously.

Li Wendi smiled and said, "I didn't know you were going to sell Yonggao Company. This acquisition was just a test. I personally like Hilton Hotel very much."

John Joe and Alvin looked at each other. It turned out that Li Wendi looked down on the Hyatt Hotel Bali and came here exclusively for the Hilton Hotel.

"So that's how it is. We are aware of Mr. Li's ability. One of the conditions for us to sell Yonggao Company is that all payments must be made in cash. Will Mr. Li have a problem with that?" Joe John was worried that Li Wendi could not come up with much money.

"No problem, I have already got a loan from HSBC," said Li Wendi.

"That's good!" Qiao John continued, "Then let's discuss the price. A 35% premium. Does Mr. Li have any questions?"

With a premium of 35%, it would be impossible for Yonggao Company to reach 11 yuan per share even in three years.

"Gentlemen, a 35% premium is already very high and is totally out of line with the market situation. Can we lower it a bit?" Li Wendi said, spreading his hands.

"Mr. Li, the Hong Kong stock market is currently on a strong upward trend. It will not be a problem for it to rise to 11 yuan per share after some time. Our request is reasonable," said John Qiao.

(End of this chapter)