The Son of Finance of the Great Age

  Chapter 724 Gold Market

   Regarding this acquisition, not only the German media is following up and reporting, but the media all over the world are paying attention to this matter. Of course, after the Porsche Group managed to fend off vulture funds, the whole thing seemed to be settled.

   But not long after that, the whole thing took a shocking turnaround. The Porsche Group was unable to exercise its power due to its operating crisis, and even had to apply for a bailout fund from the German government, which surprised everyone. This incident quickly brought the Porsche Group into the limelight again.

During the period, the media also unearthed some speculative information, such as Wolfgang Porsche once went to Saudi Arabia to ask for help, and Tianyu Fund was preparing to intervene, etc., but when the final situation was announced, they still felt a huge shock. shocked.

   It was none other than Dazhong Group that made the move.

  Most people would never have imagined that the acquisition of Shetun Elephant would have a dramatic reversal in the end.

  Based on the announcements jointly issued by the two companies, the entire transaction is roughly as follows:

  Volkswagen Group will invest to acquire 100% of the shares of Porsche Group. In addition, a fund from the Middle East will exercise the option of 24% of Volkswagen Group held by Porsche.

  The structure of the preliminary transaction is like this, and the details still need to be negotiated by the three parties, but basically the transfer of the Porsche Group is already a certainty.

   This incident was immediately defined as a "miracle" by the German "Der Spiegel" magazine, which caused a sensation in the entire German business community. After getting the news, the world media also followed up and reported this typical acquisition case.

Among them, the "Wall Street Journal" said, "We could have seen a classic hostile takeover case that could be called a small swallow, but just when it was about to succeed, the whole thing took an incredible reversal, and the Volkswagen Group turned around. Swallowing the Porsche Group, this dizzying change is a realization that nothing is impossible in the world of mergers and acquisitions."

The "Financial Times" said, "Business schools around the world have new materials, and the financial advisers of the Volkswagen Group will also receive great attention. It has to be said that this may be the greatest M&A case in 2009. No one."

The New York Times declared, "From this incident, we can see how important it is to maintain sufficient cash flow in the context of the world's economic depression. From aggressively trying to annex the Volkswagen Group to the final acquisition (not yet completed), the experience of the Porsche Group tells us that we must not only maintain sufficient cash flow, but also be on guard against other people's covetousness. Examples of 'too big to fail' have appeared many times in the United States, and several cases have also appeared in Europe , but unlike the United States, they usually directly nationalize large companies. Although in the whole transaction, judging from the public information, the Volkswagen Group did not get more preference from the government, but it is undeniable that, Regarding the current situation, not only the German federal government but also the state government of Lower Saxony are greatly relieved."

  …

  Among the numerous reports all over the world, there are some media who want to inquire about third-party institutions involved in the transaction besides Volkswagen Group and Porsche Group, that is, the Middle East Fund. But according to the public information, this fund has not been established for a long time, and the information is really pitiful, and the relevant person in charge is silent, and there is no way to ask anything.

  Under such circumstances, the media can only speculate that the source of funds for this fund is Prince Faisal, that is, his investment fund is involved.

  Zhong Shi and Gao Dongfang hid themselves perfectly, so that no matter how the outside world digs, they cannot be found.

  In July, Zhong Shi returned to Hong Kong and ended his trip to Germany. The remaining matters will be discussed in detail by Tianyu Fund, Huaxia Investment, Porsche Group, and Volkswagen Group.

   "You want to buy gold mines?"

  On the second day after returning to Hong Kong, Zhong Shi met an unexpected guest, John Paulson.

   Today's John Paulson is full of ambition and is the most popular fund manager in the capital market in the world. After personally earning more than billions of dollars last year, his performance so far this year has not been as outstanding as last year, but his every move is still the focus of the market's attention.

  In fact, John Paulson has been asking Zhong Shi for a while, but Zhong Shi himself has been in Germany and has no means to escape. According to Paulson's understanding of Zhongshi, he can conclude that his benefactor must be deeply involved in the grievances between the Volkswagen Group and the Porsche Group. When news of the VW Group's eventual annexation of the Porsche Group came, John Paulsen knew right away that Bellstone's German itinerary was coming to an end.

At this time, Zhong Shi was drinking coffee leisurely in the office. After hearing Paulson's thoughts, he shook his hand and spilled the whole cup of coffee on his white shirt. Shaking his head, he smiled wryly and said, "John, don't you understand what I mean? Hyping gold and buying gold producers are two different concepts!"

   "No, no, it's a concept."

  John Paulson shook his head, "Zhong, believe me, this is definitely a concept!"

"Oh?"

Hearing John Paulson say so firmly, Zhong Shi's heart moved, and he couldn't help asking, "I believe you and I know very well that the gold that is currently being hyped is actually a contract, and it is impossible to exercise the rights. Delivery. And the gold company you want to buy is an institution that can detect and produce physical gold. Although we talked about gold last time, until now, the sentiment in the metal market is still stable, and the inflow of large amounts of funds is not obvious. Here In this case, you shot to buy a gold producer, is it to prepare for the future?"

   "Nothing can be hidden from you!"

John Paulson slapped his thigh happily, and extended his thumb to Zhongshi, "I really think so. In the past few years, I have learned a lot from Mr. Zhong's operation techniques. It’s an eye-opener. Among other things, just the fact that you are in Germany is enough to make people amazing.”

   "What did I do in Germany?"

  The muscles at the corners of Zhong Shi's mouth twitched slightly, with an innocent and puzzled expression. He decided to play dumb, "Are you talking about the German Porsche Group and Volkswagen Group? It has nothing to do with me! God, you don't think I'm behind the scenes, do you?"

   "Of course I don't think so!"

  John Paulson was taken aback for a moment, then laughed, "Mr. Zhong, you said this yourself, I didn't say anything.

   But now, one thing has indeed been verified, that is, you are indeed manipulating the whole thing behind the scenes. Big deal, big deal. First, he supported the Porsche Group to gobble up the Volkswagen Group. Later, seeing that the timing was wrong, he decisively chose the Volkswagen Group. Such an overturning method is really admirable. "

   "I am your faithful disciple, I must emphasize this!"

After complimenting the other party, Paulson suddenly noticed Zhong Shi's unhesitating expression, and hurriedly expressed his loyalty, "Mr. Zhong, not to mention that we played Soros together, just say that in my most difficult time, You didn't withdraw the funds, which has made me grateful in my life. I only admire you, and I don't have any other meaning at all. "

   After speaking, he lowered his head in panic, assuming a serious attitude of admitting his mistake.

   "Lift your head up and look into my eyes!"

Zhong Shi stared at the other party with a serious face for a while, and after confirming that everything the other party said was from the heart, he said lightly, "Yes, I did participate in the incident in Germany, but the whole incident It's not what you think, but I don't have to explain anything to you. I don't want anyone else to know about this, understand?"

"clear!"

   Paulson quickly nodded and agreed, but the next moment he reacted, "But Mr. Zhong, even if this matter is not from me, there are many people who know that you did the whole thing. So..."

   "Okay, don't worry about it so much, I don't care about whoever you love!"

  Zhong Shi was immediately annoyed, waved his hand after a while, and said impatiently, "Now let's talk about the business, why do you want to buy gold mines and report to me? You don't need it at all!"

   "Actually, the whole thing is like this!"

Paulson quickly explained, "The company I want to buy now is called AngloGold Ashanti, which is currently one of the largest gold producers in the world. Because their business has been hit hard since last year, they have been in the process of The world is looking for new capital injections. But so far, they have not found new investors. You also know that in this situation, no one will want to invest in a company in an emerging market, and it is a direct investment in gold. manufacturer."

"This is my plan. Even if it is for hedging, I am very interested in taking the shares of this gold manufacturer." Paulson continued, "By entering this company and controlling the board of directors, I can at least be able to control the board of directors to a certain extent." Affecting the price of gold, although the impact is minimal. But who knows it won't come in handy at a critical time?"

   "You think so?"

  After listening to Paulson’s analysis, Zhong Shi touched his chin and nodded. It seems that Paulson has indeed learned a lot from him, and has begun to realize that the price of the futures market can be affected from the top of the industrial chain. Although many people are aware of this point, the vast majority of people cannot do it, including 90% of hedge funds, because it is impossible for them to have enough funds to acquire top companies in a certain industry.

   Speaking of gold, I have to say South Africa, which is located at the southernmost tip of Africa. As the "Country of Gold", South Africa has long been the country with the highest gold production in the world. In the 1970s, their gold production accounted for 70% of the world's production. But in the gold market, neither South African gold producers nor the South African Reserve Bank have bargaining power.

  Before World War II, the London gold market was once the leader in the global gold market, but after the war, due to the economic downturn, Britain was forced to implement foreign exchange controls. At this time, Switzerland suddenly emerged and befriended the South African government at that time, making the Zurich gold market the most important gold market at that time in one fell swoop. A large amount of gold from South Africa was shipped to Zurich, which later became the world gold spot trading center.

  The New York gold market, established in 1974, is the youngest among the three major gold centers. At the beginning, the bargaining power was deeply influenced by the London gold market. However, with the gradual increase of speculative activities and the trading volume of gold futures reached an astonishing number, the New York gold market has gradually become a pivotal role. It is currently the world's largest gold futures market.

In addition, there is also the Hong Kong gold trading market. Originally, the pricing power was deeply influenced by London. Gaining importance. But in any case, compared with the previous markets, the Hong Kong gold trading market is still a junior.

   "Yes, influence from the upstream industry chain, I don't think it will be long before last year's glory will be reproduced!"

  Paulsen has fallen into a deep fantasy, with an intoxicated expression, making Zhongshi look sideways.

   "Can all this have anything to do with me?"

  Zhong Shi spread his hands, expressing that he has not figured out the meaning of Paulson's visit.

   Thanks to book friend hhr111 for voting monthly! I hope everyone will continue to support. There are still many exciting things in the future. The author is looking forward to the improvement of this month's results~

  (end of this chapter)