章節 1081: Chapter 1081: Unstoppable
The headquarters of the Banque Nationale de Paris.
The current president, Le Mir, received Léo Martin with a warm attitude.
The Guangming Fund has a deep business partnership with the Banque Nationale de Paris, for example, the two parties have a lot of cooperation in financial allocation.
Not to mention, early this morning, he received a report from his subordinates that the account of Guangming Fund in their bank suddenly transferred a sum of 1.5 billion francs.
Although he does not know what Guangming Fund wants, but this big customer transfers money to his own bank, and such a large sum, how can he not be enthusiastic?
'President Leo Martin, welcome, please sit!'
'The same coffee as last time?'
'Yes, thank you!'
...
After a brief exchange of pleasantries, Le Mire's secretary served both men with steaming cups of coffee.
Leo Martin cut straight to the chase: 'President Le Mire, I have come this time to hope to reach an agreement with BNP Paribas on two collaborations.'
'As a sign of good faith, I deposited 1.5 billion francs in our company's account at BNP Paribas yesterday. I don't know if you have received the news.'
Le Mire raised an eyebrow, then nodded with a smile, saying, 'I received the news this morning. I thank you for your trust in our bank.'
'I am also happy to serve your company.'
'What kind of cooperation are you asking about?'
For banks, the most important thing is capital. As long as there is capital, they can use it to make money.
So Le Mir had already made up his mind to swallow all this money and strengthen the strength of the Paris National Bank.
Leo Martin took out the letter of intent for cooperation from his briefcase and handed it to Le Mir.
'President Le Mir, this is a letter of intent for cooperation from our company. It contains our company's business needs. Please take a look first.'
'Okay!'
Le Mir immediately took the thin cooperation letter of intent, opened it and quickly skimmed through it.
When he read the first part, his brows subconsciously furrowed, but he kept calm and continued reading. When he reached the end, his brows relaxed and he quickly calculated in his mind.
Leo Martin was in no hurry, and waited with sufficient patience, sipping his coffee.
After a long time, Le Mir finally put down the letter of intent for cooperation in his hand.
Leo Martin then asked with a smile, 'President Le Mir, are you willing to take over these businesses?'
Le Mir smiled and nodded: 'Of course, I have no reason to refuse.'
'However, specific negotiations will require your company to liaise with our dedicated personnel.'
Bright Fund wants to acquire the shares of Moët Hennessy and LVMH in the hands of the Banque Nationale de Paris. In order to maximise profits, it is definitely necessary to negotiate with a negotiation team. And to be honest, as the president of the bank, he is mainly in charge of the overall work, and it is good enough for him to know that the bank owns these shares. He can't remember so many details.
Leo Martin nodded and stated something: 'President Le Mir, I hope that we can reach the first cooperation as soon as possible, and then start the second cooperation business.'
'And it must be kept confidential. As you can see, the commission we offer is very high. I believe that no company in France will refuse this business. However, we have only contacted your bank. If the news leaks, it will get us into great trouble. At that time, your profits will be even lower, won't they?'
Le Mir heard the underlying meaning in the words of Leo Martin, and he was not annoyed. He nodded solemnly in assurance, saying, 'President Leo Martin, please be assured that our bank will never exceed the bottom line of business and will do its utmost to protect the interests of our partners.'
'Today I will call a short meeting with the relevant personnel, and I will call you in the afternoon to inform you of the situation. Is that okay?'
'Of course, I'll be waiting for your good news!' Leo Martin said with a slight smile.
...
Leo Martin came quickly and left just as quickly.
After he had gone, Le Mir flipped through the letter of intent again and then gave some instructions to his secretary.
The Bright Fund had proposed two types of cooperation: one was to acquire the shares of Moët Hennessy and LVMH held by BNP Paribas, and the second was to entrust it with the task of helping to acquire the shares held by other banks and institutions.
The two collaborations are bundled together, and the second business can only be started after the first one is completed.
Therefore, BNP Paribas will at most make some money on the first collaboration, and the second acquisition must be completed quickly. The faster the acquisition, the lower the cost, and the higher their profit.
This acquisition condition of the Bright Fund also ensures that BNP Paribas will do everything possible to complete the acquisition of the relevant equity as quickly and quietly as possible.
After all, while the Louis Vuitton Group was not listed, Moët Hennessy was a listed company, and once the news broke, and if it dragged on, the share price would surely soar.
Before approaching the Moët, Hennessy and Vuitton families directly, Xia Yu had to prepare thoroughly and make every effort to strike a blow.
...
That afternoon, Le Mire replied to Léo Martin, and the two sides began negotiations the next morning.
Bright Fund and BNP Paribas had been working together for a while, and Le Mire was not a short-sighted person, so he set the tone for his subordinates.
In order to succeed as soon as possible, Xia Yu did not save money, so the offer from the Bright Fund acquisition team was also very favourable.
After just two negotiations, the first collaboration was quickly reached.
The 12.4% stake in the Moët Hennessy wine group held by BNP Paribas was sold for 928 million francs, a 28% premium.
The 21.4% stake in the Louis Vuitton group was sold for 523 million francs, a 30% premium.
The two acquisitions together totalled 1.451 billion francs, which was transferred directly from BNP Paribas to the bank account of Guangming Fund.
However, for insurance purposes and to avoid regulatory scrutiny, the shares in both companies were held in custody by the Banque Nationale de Paris.
This was done in consideration of the current trading regulations on the French financial market.
According to these regulations, a listed company's new shareholders must notify the company and the financial market supervisory authority when they acquire more than 5%, 10%, 15%, 20%, 25%, 33.33%, 50%, 66.66%, 90% and 95% of the shares.
However, if an existing shareholder is trading shares for cash, the relevant transactions do not have to be disclosed, and the shareholding does not have to be disclosed to the stock exchange within half a month.
As long as this rule is followed, Xia Yu can acquire a sufficient amount of shares outside the stock market to the greatest extent possible.
Of course, the prerequisite is to have enough cash.
In order to motivate BNP Paribas and to give them peace of mind during the takeover,
within three hours of the first transaction of 1.451 billion francs, a further 3 billion francs was transferred to the bank account of Bright Fund.
As long as BNP Paribas acquired each shareholding, the money could be transferred in advance to the bank's own account for transaction payments. No money from BNP Paribas was needed, only a transfer was required, and after each acquisition was completed, the bank could directly receive the corresponding commission.
It can be said that Xia Yu also went to great lengths to get BNP Paribas to contribute as much as possible.
As the second largest bank in France and the fourth largest in the world, BNP Paribas' influence is undeniable.
When they fully mobilised their resources, the takeover offensive was simply unstoppable.
In just one week, the stakes held by other banks in the two groups were all acquired.
Of these, Moët Hennessy Wine Group's 24.4% stake was acquired in four separate transactions, at a total cost of 1.932 billion francs, including a commission of 92 million francs for BNP Paribas.
Then there was Louis Vuitton Group's 21.4% stake, acquired from three shareholders in three separate transactions, at a cost of 540.7 million francs, with BNP Paribas earning a commission of 25.7 million francs.
Although this amounted to a commission payment of over 26 million US dollars, Xia Yu felt that the efficiency and results were really worth it.
The first phase of the mission had been completed perfectly!
The Guangming Fund still had over a billion francs in its account with the Banque Nationale de Paris, and most of this money still had to be spent!
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