章節 977: Chapter 977: Dongfeng Airlines exposed
Hearing no sound from the other end of the line for a long time, the relaxed and casual voice of Bao Yugang came from the microphone on Wei De's side again: 'Mr. Shi Yahuai, you don't have to think too much about it. I'm just acting out of normal acquisition considerations. It's just that 15% of the equity is really too little, and it's not conducive to a stable cooperation between the two sides.'
'Mr. Shi Yahuai, tomorrow is the agreed day anyway, and it's not convenient to go into details over the phone. If you have anything you want to talk about, how about we talk face-to-face tomorrow?'
Wade Shiyahuai looked at his uncle and, after receiving the latter's nod, said calmly into the phone: 'Okay, let's meet face-to-face tomorrow.
Let's say 9am.'
'...'
'Click!'
After hanging up, Wade Shiyahuai asked Norman Shiyahuai, 'Uncle, he actually admitted it. Do you think what he said is true?'
'What should I talk to him about tomorrow? What do I need to talk about?'
Norman Schiawai frowned, unable to grasp Bao Yugang's true intentions.
The fact that he had been so open and honest about this matter was in line with Bao Yugang's style and the reputation that had spread outside.
However, the fact that Jiuding Industrial Group had been involved from the start had made him suspicious, and now that Jiuding Industrial Group had been removed, he still could not dispel the doubts in his heart.
It was hard to say whether it was preconceived ideas that had influenced him.
Norman Shih Yawei stroked the emerald thumb ring he was wearing on his right thumb and pondered for a long time.
He commanded the quietly waiting Wade Shih Yawei, 'Wade, since Bao Yugang's goal is to deepen the cooperation between his Hong Kong Air Cargo Terminal Company and our Hong Kong Airport Ground Services Company, then to find out his true intentions, we should seize this point.'
'He wants to use the acquisition of shares to deepen cooperation, so tomorrow you tell him this: We welcome deeper cooperation, but the cooperation must be mutual. We will not sell the shares of Hong Kong Airport Ground Services, but will only exchange them for shares of his Hong Kong Air Cargo Terminals. Let's see what his response is.'
'It's just that we haven't been able to find an opportunity to invest in his Hong Kong Air Cargo Terminals!'
Wade Sziahai nodded thoughtfully, a little excited, and said, 'Okay, Uncle, I'll do that tomorrow.'
Afterwards, Wade Sziahai thought of something else and asked, "Uncle, what if Bao Yugang agrees to a share swap with us?'
Norman Sziahai's eyes narrowed slightly as he said slowly, "Then we'll see how much of his shares he's willing to give up!'
'Anyway, a partnership requires at least a few negotiations, so just stall for a bit and come back and tell me what happens,'
'Okay!' Wade Shiyahuai immediately replied.
...
The following morning at 9am, in the conference room at the headquarters of Swire Pacific Airlines.
Wade Shiyahuai met with Bao Yugang again.
After a brief exchange of pleasantries, Bao Yugang said with a smile, "Mr. Shiyahuai, I wonder how you've been considering things?'
Wade Shiyahuai, however, looked calm, looked Bao Yugang straight in the eye, and said calmly, "Mr. Bao, before we talk about that, you need to answer my question.'
Bao Yugang nodded with a faint smile and made a gesture of invitation: 'Please!'
Wade Shiyahuai asked, 'As far as I know, 24% of Cao Guangbiao's shares have been transferred to Standard Chartered Bank. If you need to strategically invest in Hong Kong Airport Ground Services, the shares held by Standard Chartered Bank are undoubtedly easier to acquire, and there is no need to acquire the shares held by our Swire Pacific Airlines.'
Bao Yugang gave a wry smile, shook his head and sighed, 'Mr. Shi Yahuai, do you think I haven't asked? Of course I know that buying Standard Chartered's shares is the best option. I have also approached the president of Lidl, but no matter how I talked, he had no intention of selling, so there was nothing I could do.'
At the end, Bao Yugang spread his hands, showing his helplessness.
Suddenly, Bao Yugang's eyes lit up again, and he looked at Wade Schiaway and said, 'Mr. Schiaway, if you can help me acquire all of Standard Chartered Bank's holdings, then my plan will exceed expectations. I will not need to acquire your holdings, and I will pay for your help. What do you think?'
When Bao Yugang said this, he looked completely at ease, causing Wade Schiaway to subconsciously lower his guard.
However, he was actually troubled.
After all, if Bao Yugang was satisfied with acquiring the equity stake held by Standard Chartered Bank, then apart from getting some commission, there was no way he could infiltrate Bao Yugang's HX Air Cargo Terminal Company.
In the aviation field, the only shortcoming of Swire Pacific Airlines should be said to be not having a stake in HX Air Cargo Terminal Company.
At the beginning, Swire Pacific was a shareholder of Hactl, but at that time the company was still under the Jardine Matheson Group, and Swire Pacific only held a 12% stake.
However, when the Jardine Matheson Group was dismembered, Y. K. Pao acquired more than two-thirds of the shares of Jardine Air Terminal and chose to force a privatisation. In the end, Swire Pacific was forced to withdraw, and it has never entered the market since.
In his mind, while HKGAS was important, HACTL was even more crucial in the aviation sector. After all, Hong Kong had and only had one international airport, Kai Tak, and the franchise was in the hands of HACTL.
After a moment's thought, he said vaguely, 'We can give this a try. It would be best if President Liddell is willing.'
'Of course, to save time, we'd better get things clear once and for all,'
Bao Yugang nodded with a smile: 'Of course.'
'Mr. Shi Yahuai, if you have no further questions, shall we talk about the acquisition of the shares?'
Wade Shi Yahuai nodded slightly and said: "We can talk about it, but I have a win-win idea. Is Mr. Bao interested in hearing it?'
'Please go ahead!" Bao Yugang suppressed his smile and looked at Wade Shi Yahuai.
'We also hope to strengthen our cooperation with Mr. Bao. Compared to the future benefits that cooperation can generate, money is secondary.
'And to avoid putting any financial pressure on you, I hope to use a share swap. How would you feel about swapping your shares in Xiangjiang Air Cargo Terminal for the shares in Xiangjiang Airport Ground Services that I hold?'
Having finished speaking, Wade Schiavi looked at Bao Yugang with burning eyes, not missing a single change in expression on his face.
Bao Yugang's face was frozen, with an expression of some unexpected and agonising emotions.
Human psychological changes are so strange.
It is always believed that what you cannot get is the best.
If Bao Yugang easily agreed, Wei De·Shi Yahuai would instead be suspicious.
But Bao Yugang hesitated at this time, and Wei De·Shi Yahuai's mentality changed instead. He wanted the shares of Xiangjiang Air Cargo Terminal Company even more!
He leaned slightly forward and said with a doubtful tone, 'Mr. Bao, what, didn't you say that you hoped to deepen the cooperative relationship between the two companies? Mutual shareholding is the best way to do this. You don't want the shares in HKAAT?'
'Or...is the cooperation you mentioned just an excuse, and do you have other motives for acquiring the shares?'
Looking at Wade Schiawai's expression of doubt and exploration, Bao Yugang immediately laughed and denied, 'What other motives could I have?'
'Since Mr. Schiawai is optimistic about my HKAAT, of course I welcome Swire Pacific to join in, and I agree with your proposal of a simple share swap.'
'I just considered one thing and thought about it a bit more just now.'
Wade Shiyahuai asked curiously with an inexplicable smile, 'What was it?'
Bao Yugang looked directly at Wade Shiyahuai and said with a faint smile, 'The value of Hong Kong Airport Ground Services is 350 million Hong Kong dollars, and the purchase price of my Hong Kong Air Cargo Terminals at the time was a valuation of 1.5 billion Hong Kong dollars. The latest valuation is lower, but it is still 1.43 billion Hong Kong dollars.'
'How much of the shares of Hong Kong Airport Ground Services do you plan to offer in exchange?'
Wade Shiyahuai's smile froze, and he felt embarrassed.
He knew that what Bao Yugang had said was the truth, but the difference in value between Hong Kong Airport Ground Services and Hong Kong Air Cargo Terminals was too great!
The valuation difference was more than three times.
Even if Swire Pacific Aviation offered all of its shares, it could only get about 11% of the shares of Hong Kong Air Cargo Terminals in exchange.
But can he give up all his shares?
Absolutely not!
Even if he gives up half of them, he will only get a little over 5% of the shares of Hong Kong Air Cargo Terminals.
That's not going to do anything!
But he was the one who proposed the simple share swap, so if he objects now, he'll be slapping himself in the face!
Looking at Bao Yugang's smile and gaze, Wade Shiyahuai's smile grew more and more stiff, and his brain started spinning frantically, trying to find a suitable way to back down.
Just then, a flash of information flashed through his mind.
He perked up and immediately said, 'Mr. Bao, I remember that when Hongkong Air Cargo Terminals was under the Jardine Matheson Group, it was a listed company, and its market value was only about 500 million at the time, wasn't it?'
How could Bao Yugang not know what Wade Shiyahuai was thinking?
He cut him off directly: 'Mr. Shiyahuai, everyone knows that the market value at the time was seriously underestimated, otherwise I would not have spent more than 1 billion Hong Kong dollars to acquire it in its entirety. I paid in real cash.'
'And with the authority and professionalism of the Economic Weekly, it also valued Hactl, and according to the current valuation of 1.43 billion Hong Kong dollars, I'm still losing money!'
'If you're trying to drive down my price, that doesn't make sense!'
Wade Shiyahuai could only hold back what he had originally wanted to say, and said with a laugh, 'I didn't mean it like that, but although Economic Weekly is relatively authoritative, it is definitely not 100% correct. After all, Economic Weekly has not completely liquidated the assets of Hong Kong Air Cargo Terminals Limited, don't you agree?'
Bao Yugang was not taken in and said with a smile, 'I can't really say anything about that, heh heh...'
The conversation couldn't continue, so Wade Schiaway hurriedly changed the subject and asked, "Mr. Bao, let's not talk about these things that we can't define for the time being. I want to know, how much more equity do you plan to acquire?'
Bao Yugang said with a smile, "I already hold 15% now, so let's acquire another 15%. Only by having weight on the board of directors can we ensure the interests of the two companies' cooperation, can't we?'
Wade Shijiahuai frowned, shook his head and said, 'Mr. Bao, that's too much. If you sell 15%, our Swire Pacific's shareholding will drop to 26%!'
'That changes the nature of the deal!'
Bao Yugang shook his head with a faint smile and said, 'It doesn't change. Your Cathay Pacific still has a 4% shareholding, so together you still have 30%. It's the same for you and me.'
'Hong Kong Airport Ground Services has also become a bridge and platform between Swire Pacific and my air cargo terminal company. Isn't that just perfect?'
Wade Shi Yahuai still decisively shook his head in disapproval.
Bao Yugang smiled and said, 'Since Mr. Shi Yahuai still thinks it's too much, then I'll give in. Swire Pacific will transfer 14% to me, and I'll have a total stake of 29%. You'll have 31%, and you'll still be the majority shareholder and manage the company. Is that all right?'
Bao Yugang's willingness to step back still made Wade Shiyahuai feel uncomfortable.
Or perhaps it was because he had lost face a few times or been put in an awkward situation during the conversation so far, and his thoughts had become confused and his mood a little irritable, so he didn't know how to continue the conversation.
He said immediately, 'Mr. Bao, I think there are still relatively big differences in our proposals for cooperation, such as the method of cooperation, value assessment, and the number of shares.
'But I'm sorry, I didn't get much sleep last night, and now my head is a little dizzy, so it's not the right time to talk about such important things.'
'So I think we should stop for now, and based on what we talked about today, we can each think again clearly and come up with a few more proposals. What do you think?'
When Wade Schiavoni got to this point, Bao Yugang smiled, with a look of regret, and said with understanding, 'That's fine. Today's discussion was fruitful, at least it's a big step forward from the last time.'
'So when is the next meeting?'
This time, Wei De Shiyahuai didn't say anything about three days later. He said vaguely, 'Let's leave that open for now. We have each other's phone numbers anyway, so how about we contact each other by phone at that time?'
Bao Yugang nodded and said, 'That's fine. Then that's all for today. I won't bother you anymore.'
After saying this, Bao Yugang stood up and extended his hand to Wei De Shiyahuai.
The latter immediately got up and shook Bao Yugang's hand, smiling and saying, 'Looking forward to seeing you again!'
'I'll walk you out!'
...
After seeing Bao Yugang off, Wade Schiawase returned to his office, rubbing his temples with his hands as he recalled the content of his meeting with Bao Yugang.
Just then, there was a somewhat hurried knock on the door.
'Knock, knock, knock...'
Wade Schiawase, who was feeling a little irritable, frowned and said in a dissatisfied tone, 'Come in!'
Soon, the door opened and a subordinate walked in.
Seeing it was the head of the company's logistics department, Lavish, and that he looked anxious, he frowned and asked, 'What's wrong? You look so upset.'
'President, something's happened. I just heard the news that there's another airline in Xiangjiang! We have a competitor in Taikoo Airlines!'
Logistics Minister Lavish said quickly with a grave face.
'What?'
Wade Shi Yahuai's eyes widened in shock, his face full of disbelief.
Just seeing Logistics Minister Ravish with a serious expression, which did not look like he was joking at all, made Wade Shiyahui's heart sink, and his already annoyed mood became even more manic.
'What the hell is going on!'
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