Hollywood Hunter

Chapter 541 Financing Plan

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New York.

The time is already March 27.

A business reception is being held in the ballroom of the Gramercy Hotel Midtown.

One week after the news of Igreit's external financing was released, although no intention was reached, the phone calls of all the people in charge were all overwhelmed.

In order to answer the various questions of potential investors in a unified way, Westeros simply held this reception in New York, and invited a large number of Wall Street investment banks and fund heads to participate.

"Simon, Boeing's recent market cap is less than $12 billion. Do you think it's reasonable for a four-year-old technology company to offer $15 billion?"

Inside the reception hall.

Simon listened to the half-truths of Goldman Sachs chairman Stephen Friedman and smiled: "Stephen, if you want to make a stable investment with an annual growth rate of 10% or 20%, you can definitely find Boeing, aviation The industry certainly doesn't go out of style. But if you want higher returns, of course you need to take some risks. Speaking of which, I haven't been paying attention to Boeing's stock price lately, and if it's less than $12 billion, I'll let Lawrence do it all. Maybe buy some more."

Stephen Friedman knew that the Lawrence Simon was talking about was Lawrence Fink, the head of Cersei Capital's Black Rock Asset Management.

Black Rock Asset Management has grown rapidly after investing in Cersei Capital. The mutual fund investment company has recently controlled more than $120 billion in assets.

The investment standard of mutual funds is to pursue low-risk, large-cap stocks with stable investment returns, as well as highly rated government bonds and corporate bonds, in order to ensure the safety of funds as much as possible. In this way, although the investment profit will not be too high, but relying on the huge volume of the fund itself, it can still obtain good returns.

Goldman Sachs could not be so conservative.

After thinking about it, Stephen Friedman said: "However, Simon, the offer of $1.5 billion is still too high, how about $1 billion, Goldman Sachs is very sincere to reach this cooperation, $1 billion, and Igre The special company promises to carry out the IPO within 3 years, and we can sign the equity transfer agreement in the near future.”

Simon smiled, made a gesture to the crowd around him, and said, "Stephen, you should understand that it is a seller's market now, so you have no room for bargaining with me."

Stephen Friedman was somewhat unhappy when he saw that Simon had a smile on his face, but there was no room for concessions in his tone. However, of course, these emotions will not appear in his expression. The young man in front of him is not someone that Goldman Sachs can handle. On the contrary, even if this business fails, Goldman Sachs still hopes to obtain the next Daenerys Entertainment, Igret IPO underwriting rights for the company and other businesses in the Westeros system.

In recent years, only the IPOs of several companies in the Westeros system have received the most attention in the industry.

As for the stake in Igreit, Goldman Sachs is not without disagreements. Some people think it should be taken all, some people think it is a big bubble, and Stephen Friedman is hesitant. He has turned 50 this year. Many years old, although he can climb to the position of chairman of Goldman Sachs, his ability is absolutely sufficient, but he does not know much about the emerging Internet industry.

In his view, there are very obvious irrational factors in the recent soaring stock prices of Cisco and America Online.

However, the advantages and revenue data of these companies in the industry are real, which makes it difficult for people to judge the future stock price trend.

Of course, with the announcement of the "Information Superhighway Plan", Stephen Friedman is actually very optimistic about the Internet industry. However, investing in this field now is either too risky or too costly. loss.

The competition within Goldman Sachs is very fierce. Once there is a serious investment mistake, his position as chairman will almost immediately abdicate.

For 10% of Igreit's stock, $1 billion is a figure that Goldman Sachs' core management approves. Moreover, this still needs to be under the premise that Igreat must conduct an IPO within three years. After buying these stocks, Goldman Sachs also hopes to get the underwriting rights of Igreit's IPO.

However, looking at the scene at the reception today, Stephen Friedman understands that the possibility of Goldman Sachs wanting to make this business with $1 billion is almost zero.

In the lobby tonight, Goldman Sachs, Morgan, Lehman, First Boston, and even the head of Salomon Brothers, which is still struggling in the mud, have all been present, in addition to Vanguard Fund, Blackstone Group, kkr These fund company executives and some There are capital forces on the periphery of Wall Street and even overseas.

Although it is traded in the name of 10% of Igreit's stock, everyone is keeping an eye on the entire Westeros system.

Daenerys Entertainment has cooperated closely with Morgan Stanley in the past few years. For next year's IPO, unless there is a big change, the lead underwriter can basically be identified as Morgan Stanley. However, Daenerys Entertainment's IPO The scale will be very large. Morgan Stanley eats meat, and it is not impossible for everyone to win some soup.

In addition, within the Westeros system, companies such as Igreat, ltd Group, Tincobel, and Verizon may all carry out ipo operations in the future. Even after going public, many companies still have to issue additional stocks or raise bonds, all of which are big deals.

If Simon Westeros is smart enough, he certainly won't be working with the Morgan Stanleys all the time.

With that in mind, Stephen Free

Deman's thoughts on whether to join this batch of equity competition could not help but strengthen a little, and finally chatted with the young man in front of him for a while, before leaving, Friedman suddenly asked: "Simon, 10% of the shares, you intend to all Sell ​​it to a company?"

Simon's eyes flickered slightly, and he said, "Of course not, $1.5 billion is indeed a lot of money. If Goldman Sachs and some capital join forces to buy it, as long as the two sides can negotiate, of course there is no problem."

Getting the answer he wanted, Stephen Friedman said: "In this case, tomorrow... um, how about next Monday night, let's have dinner together and chat by the way?"

Simon smiled and shook his head: "Next Monday is the Oscars."

"Oh, I forgot about that, so..."

Simon interrupted: "Stephen, I'll be back in Los Angeles tomorrow, and maybe not in New York for the next week, so if you make a decision, you can talk to James, who is my spokesperson."

Stephen Friedman reached out and shook hands with Simon again, and said, "It seems that this is the only way to go. I look forward to more opportunities for us to cooperate."

"certainly."

Stephen Friedman left, Simon took a sip of the red wine in his hand, and stood in the distance thinking about what happened just now.

Goldman Sachs has a very close relationship with Washington and is a standard Democratic camp. After Bill Clinton became president, Robert Rubin, who had been co-chairman of Goldman Sachs with Stephen Friedman a few years earlier, joined the White House as an economic and economic policy assistant to the president and was responsible for leading the National Economic Policy Council established by Clinton. Simon also You know, Robert Rubin will be U.S. Treasury Secretary in a few years.

In the past, in the subprime mortgage crisis around 2008, Lehman Brothers went bankrupt, Bear Stearns was acquired, and other investment banks were all chicken feathers. Only Goldman Sachs not only did not lose money, but instead made a good profit in the subprime mortgage crisis. And then became the most powerful investment bank on Wall Street, which definitely does not lack the influence of close ties with the government.

The relationship between the Westeros system and the White House is already very sophisticated at this time, and there is no need to establish a relationship with Washington through Goldman Sachs. However, there is definitely no harm in having a good relationship with this investment bank.

Of course, the Morgan family, which has already established close ties, will not give up either.

The focus of the Westeros system in the Wall Street investment banking field is only Morgan Stanley and Goldman Sachs.

This time, Simon did not sell all of the 10% shares of Igret to a capital from the beginning.

Wall Street capital seems to control hundreds of billions of dollars in assets at every turn, but there are not many who can really take out $1.5 billion in cash at one time.

Taking into account the risks involved, Ken put $1.5 billion in cash into a new technology company but only got 10% of the shares, and the openness factor of Wall Street has not reached this level.

In fact, it has become the best choice to join other capital to jointly eat this batch of equity.

Faced with the covetousness of other capital, Morgan Stanley is also very interested in this batch of shares, and even a little worried that this batch of shares will be bought by other companies, thereby breaking the good cooperation between the Westeros system and the Morgan system.

Simon's idea is roughly that Morgan Stanley and Goldman Sachs raise a capital at the same time and jointly eat the 10% of the shares.

As for the other capital forces in the banquet hall at this time, at least in the business at hand, Simon is already in the ranks of pass.

He made up his mind and continued to entertain some guests. Simon had just chatted with Steve Schwarzman, chairman of the Blackstone Group, and was about to approach Lawrence Fink, the head of Apollo Management. A middle-aged man with a pair of old-fashioned round glasses came over.

Simon took the initiative to raise his glass to the other party, but glanced at the girl beside him, Alison leaned into his ear and whispered: "Joseph Lewis, chairman of the Tavistock Group."

Simon was unfamiliar with the two names mentioned by Girl A. The middle-aged man had come to the front, and Girl A could not elaborate, so she stepped aside.

"Hello Simon, I'm Joseph Lewis, you can call me Joe."

Simon and Joseph Lewis shook hands and said, "Hello, Joe."

After greeting, Joseph Lewis looked around and said, "I'm a little late here, it's really nice here."

Simon looked at each other and smiled: "Thank you."

Joseph Lewis probably also noticed the doubts in Simon's eyes, and quickly said: "Actually, Simon, I am now running an investment company, and I also cooperated with Mr. Soros last year."

Simon suddenly understood what the nature of the Tavistock group that Alison had just said was.

Financial speculators.

And it's an international currency speculator who has just been "running" in last year's sterling crisis.

To put it more bluntly, the middle-aged man in front of him must have a large amount of cash in his hand.

Joseph Lewis noticed the clarity in Simon's expression, no longer said any more, and said directly: "Simon, it is like this, I am very interested in this batch of shares in Igret Company, but I had a relationship with Raybold before. When contacted by Mr. and Mr. Lee, they said only you can make the final decision. So, when do you think we can talk about the deal?"

Really crisp.

And bold enough.

If this batch of equity in Igreit didn't have other meanings, Simon would be more than happy to say hello to such a person.

However, Simon could only shake his head at this time: "Joe, thank you very much for your interest in Igret Company.

It's just that I'm afraid someone has already taken the lead. "

Joseph Lewis was not disappointed when he heard what Simon said, as if he had already expected it, and said, "It's a pity, but I think we must have other opportunities for cooperation in the future. Simon, I heard that you are trying to acquire Christie's auction house, right? ?"

The acquisition negotiation of Christie's auction house is still going on. Now that the other party has heard the news, Simon did not hide it, and said, "That's right."

"I'm also very interested in collecting, and Melisandre seems to be looking for other collaborators. Would you mind me getting involved?"

"Of course I don't mind, but Sophia has always been in charge of this matter. You can talk to him first."

Joseph Lewis smiled and said: "I still think it is more efficient to talk to you. My company owner requires 20% of the shares and does not participate in the operation of Christie's. If the shares are sold in the future, Melisandre will also have the right of first refusal. Of course, during the auction of the collection, as a shareholder, I still hope to receive some special treatment."

Even if he didn't know the details of Joseph Lewis, the other party was so straightforward, and Simon was not stingy. He quickly extended his hand to the other party and said, "Then, Joe, it's a pleasure to work with you."

The middle-aged man in front of him is obviously eager to establish a connection with the Westeros system, and the selected entry point is very good.

Christie's auction house, this is just a business of less than 1 billion US dollars, and it has little impact on the entire Westeros system. The other party only requires shares and does not pursue control. This kind of sincerity is also very sufficient.

As for the deeper purpose, Simon can roughly guess some, but he doesn't mind too much.

The two continued to chat for a while, and Joseph Lewis continued to introduce himself unabashedly.

Lewis is an Englishman who started out with chain restaurants and clubs in his early years, got involved in financial speculation in the 1980s, experienced the 87 stock market crash, the Japanese stock market bubble and the US bond market collapse, and, most importantly, the 1992 sterling crisis.

After several operations, probably enough capital has been accumulated. Joe Lewis has recently started to return to real industry investment. If Simon agrees, the other party does intend to buy 10% of the shares of Igret in one go, but Joe Lewis It is probably also understood that Simon's sale of this share is not purely to raise funds.

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