U·L·I·T, represented by Li Zhenyu, acquired 48.9% of the shares of Ssangyong Motor held by SAIC and acted as an agent to exercise its shareholder rights.
SAIC has completely withdrawn from the operation of Ssangyong Motors and entered into a new cooperative relationship with Ssangyong as a strategic partner.
He will no longer hold a seat on the board of directors and will not participate in specific operations but will make any decisions.
U·L·I·T must guarantee all the rights and interests of SAIC. If the above situation occurs, all losses will be borne by it alone.
Five years later, the US$500 million investment by SAIC will be returned unconditionally, and U·L·I·T will be responsible for all gains and losses incurred during this period.
As a direct participant and witness, the trade union agrees with and approves this transaction.
U·L·I·T is not a substitute; it joins the Ssangyong Motor family as a new investor.
The specific content of the agreement is far more complicated than the above, and will naturally be finalized by the legal and business departments.
All three teams will try their best to gain more benefits for themselves.
As for who has better skills, it depends on their ability.
Oh, right.
The complexity of this big family reminded Li Zhenyu of an American TV series: Shameless.
All of you, men and women, are fucking shameless. The signing of the agreement went smoothly, but this is just the beginning of the whole thing, the first step...
Because, next Li Zhenyu will have to face questions and attacks from all sides, and the main task is to withstand the pressure and integrate resources to ensure the smooth start of Shuanglong.
"President Li, if you have any ideas, you can tell us now."
The subordinates were confirming the details next door, while the three bosses in charge were drinking tea and chatting in the VIP room.
Next, how will he solve the most troublesome parts?
"Let's make a deal." Li Zhenyu looked relaxed, at least more relaxed than anyone else present.
"Deal, what kind of deal?" Quan Yilong was puzzled, and so was the SAIC representative.
Who was he going to make a deal with, Hyundai... or Sanxin? No matter which one it was, he had to use something to impress the other party.
Normally, this is a difficult task, and no one can take Shuanglong away easily.
Hyundai just wants it to die, so that it will have one less potential threat.
There is no need to think about mergers and acquisitions. The market occupied by Hyundai has already caused a lot of dissatisfaction. Being greedy will only lead to indigestion.
Sanxin, on the other hand, is in a dilemma as it wants to swallow it up and restart its automotive business, but is also worried that its past failures will happen again.
The situation of Sanxin Renault has just improved and is currently in an upward stage.
There are two possible scenarios for swallowing Shuanglong: either gradually digest it, obtain technical support and start multi-line layout, becoming bigger and bigger.
Or, the double dragon would eat up the food and it would be unable to swallow or spit it out, causing it to choke to death.
Even if they are rescued, they will become half-dead.
But there is one point that it agrees with Hyundai's idea, which is to let Shuanglong continue to rot.
However, Li Zhenyu belittled it as worthless.
However, Shuanglong was still one of the top three automobile manufacturers in terms of sales in the local area. Its glorious past and technological accumulation during the war era were even more valuable assets.
If this were not the case, it would not have attracted many giants to incorporate it into their own overseas systems.
Regarding new energy technology, Shuanglong has just entered the research and development stage and has achieved some small results that are not very impressive.
However, in terms of diesel engine technology and accumulation, Ssangyong has achievements and patent chains that it can be proud of.
With Li Zhenyu taking over Ssangyong Motor, Sanxin may stay out of it.
Even if the old man of the family is unwilling, Li Zhenyu will persuade him.
After lending the shares of Sanxin Electronics to Li Fuzhen, he has been waiting for the other party to contact him.
But the old fox has kept his composure and hasn't shown anything until now.
In this case, it is reasonable to take the initiative to visit your elders.
What's more, I brought him a big gift.
It is a rare sight to see a snake swallow an elephant or a tiger snatch food from its mouth. The old man must be very happy to see it! As for modern times, we will certainly not sit idly by.
Sanxin is struggling, but Hyundai Motor is different. Allowing Ssangyong to rise from the ashes is no different from putting a knife to its own neck.
Moreover, he took the initiative to put his neck forward and begged others to hold him.
How much debt is this?
But Li Zhenyu has his own way. After all, he is not an ordinary person! "Trust me, I will get it done." Li Zhenyu did not answer their questions, but raised his glass and smiled: "Cheers."
"Cheers." The two looked at each other and raised their glasses helplessly.
I hope things will go as smoothly as he wishes and there won’t be any further complications.
Neither Quan Yilong nor SAIC can withstand any more turmoil...
Being a small place has its advantages.
As long as you have a certain social status and influence, you will find acquaintances everywhere.
Li Zhenyu doesn't know anyone from the modern Zheng family, but that doesn't matter because there are people who know them.
Such as Lee Boo-jeong, Cho Young-joon, or Jeon Jun-wook.
For example, he can take the initiative to go to someone's door and announce his identity, forcing the other party to receive him.
Otherwise, just go find the widow of Hyundai Group.
The founder, Lao Zhou, has eight sons and one daughter, and none of them is easy to deal with.
Originally, the eldest son was the designated crown prince and held great power, and Lao Zhou was a staunch supporter of the "eldest son system."
As long as the prince is in power, the father and his sons are all in the same boat and no one will be able to stand out.
At that time, Hyundai was at its peak and had long been ranked first among South Korean chaebols. Samshin was just a younger brother in front of it.
When Old Zhou retires, it will be natural for the prince to take over, and there will be no chance for anyone to cause trouble.
But the prince died young, in a car accident.
At this point, the modern world has fallen into a long-term internal struggle, and the other eight are unwilling to submit to each other. They all show their magical powers.
Old Zhou first let the fourth son temporarily take over the position of crown prince, but the fourth son was incompetent. Old Zhou felt that time was running out and wanted his son to become successful, so he put too much pressure on him and accidentally crushed the fourth son.
The fourth child suffered from severe depression and killed himself because he was so depressed.
Now the position of crown prince was vacant again, but at this moment Old Zhou had a brain accident and decided that the position of crown prince was to be decided on a case by case basis.
Ever since the eldest brother passed away, he has been eyeing the position of crown prince, and the capable second brother took the lead in launching the offensive.
He first drove his uncle out of Hyundai Motor, then seized power and placed everyone in Hyundai Motor as his own people.
At this point, Hyundai's excellent industry, the automobile company, is firmly in its own hands.
At the same time, the fifth son, who was the most "favorite" by Lao Zhou, also entered the headquarters to work under his arrangement, and made the second son feel a huge threat.
In the eyes of the second child, since it is the "primogeniture system", it should be his turn when the eldest child dies.
But Lao Zhou first appointed the fourth child, and then turned his attention to the flatterer the fifth child.
However, he just ignored his outstanding abilities, which made the second brother feel that he was unfair and resentful.
The resentment reached such an extent that the second son once openly shouted to the fifth son: "Any project, whether it makes money or loses money, as long as your father is happy, you do it, can this be called business?"
This is not a slap in the face of Lao Wu, it is clearly a veiled attack. If Lao Zhou is caught, he will be thrown into a big tirade.
Therefore, when the second brother learned that Lao Zhou still intended to let the fifth brother take over, he did not choose to sit and wait for death, but openly challenged him and put the family conflict out in the open.
First, he took advantage of Lao Wu's business trip to Japan to purge the company's senior executives who were loyal to him and placed his cronies on the board of directors.
When Lao Wu hurried back, the matter had already been settled, and the two brought the "lawsuit" to Lao Zhou, who was recuperating from a serious illness.
This incident was also called the "Modern Prince Rebellion" by the media, which directly led to the full disclosure of modern internal strife and the urgent need to choose an heir.
Lao Zhou had no choice but to make a choice.
A week later, he still chose his 'favorite' Lao Wu as the group chairman.
But he made another stupid move and gave the high-quality automobile industry with huge potential to the second brother who was full of resentment, and gave the equally high-quality heavy industry to the sixth brother who was participating in the competition for the crown prince.
In the eyes of others, this is a kind of compensation from Lao Zhou to his sons.
But the evil consequences that have been sown must be borne by the fifth brother alone.
Only three months after Zhou Enlai passed away, his second son announced that Hyundai Motor would be separated from the Hyundai Group, which he had already completed through a complex equity swap.
Shortly afterwards, the sixth brother announced that Hyundai Heavy Industries would also leave the Hyundai Group, using methods no different from those of the second brother.
At this point, Hyundai Group "cut off" its own arms, and its market value fell from the top 10 chaebols, and was nicknamed "Little Hyundai" by the media and peers.
But the trouble did not end there. When the new emperor (zong) came to power, the Ministry of Justice frequently summoned Lao Wu and conducted judicial investigations on him.
The main reason was that when Zhou Enlai was alive, he facilitated the meeting between the North and the South, took the opportunity to expand the Northern Dynasty's business, and donated US$500 million to the Northern Dynasty for public relations expenses.
At that time, the person who was brought with Lao Zhou was Lao Wu, but now Lao Zhou is no longer with us.
Internal and external troubles made the fifth brother, who was already incompetent and indecisive, unable to bear it, and he made the same choice as his fourth brother.
He opened the window of the president's office at the headquarters and jumped down from the twelfth floor.
The brothers turned against each other, took away Hyundai Group's excellent automobile and heavy industry industries, and broke away from the group to become independent.
Sejong took advantage of her husband's misfortune and forced him to death in order to gain power, leaving his widow and orphan to face such a miserable situation.
As a result, Hyun Jung-eun, who was taking care of her husband and children at home, had to force herself to step forward to stabilize the situation.
As soon as she stepped onto the stage, she faced a huge test.
Hyundai’s internal turmoil caused its stock price to plummet, and its core industry, Hyundai Elevator, faced a crisis of being acquired. Overseas companies aggressively acquired Hyundai shares.
In desperation, she could only hope that blood is thicker than water and seek help from the heads of each family, hoping to break the siege of Xiandai first.
However, the hatred in her heart still made her exclude the second child.
Not surprisingly, everyone refused to lend her a helping hand unless she was willing to hand over control of Hyundai Group.
Although it has lost the two high-quality industries of automobiles and heavy industry, the group still holds core industry technologies such as elevators, shipping, and finance.
Besides, the Hyundai Group is the orthodox one, and who wouldn’t want to inherit the throne legitimately?
There is only one exception, and that is her man’s uncle.
Hyun Jung-eun is very grateful to her uncle and regards him as a family member she can rely on.
He stepped forward to acquire a certain proportion of shares, and the overseas institutions chose to give up after finding that they could not achieve controlling stake. Thus the overseas crisis was resolved.
But this uncle not only did not stop, but instead accelerated the pace of acquisition, clearly intending to take control of the Hyundai Group in one go.
On this day, Hyun Jung-eun was taught a good lesson.
(End of this chapter)