After hearing Chief Jia's words, they finally understood why all these things had happened. It was because they had slowly become the controlling shareholder from a joint venture. Now, Hua Xia wants to take back their shares.
Although they had paid for the shares, they had done so because they had a greater say in the shareholders' meeting. Although it seemed like a normal business behavior, they had selectively forgotten many of their verbal promises.
Now, Hua Xia was trying to get back at them, and they had to swallow the bitter pill.
After knowing what the Chinese are thinking, they know how to negotiate. But this matter must be decided by the head office, and they don't dare to agree.
After Wilson threatened them from time to time, and the other lawyers kept attacking them internationally, the companies finally began to negotiate with Chief Jia again.
However, there was a big problem. They couldn't guarantee whether Chief Jia's promise would be fulfilled. What if Tai Hua Supermarket Corporation and the other companies sued them after he agreed to their terms?
Or some small company might jump out and sue them. Wouldn't there be no end to the trouble?
Wilson told them that Hua Xia's companies will not go against state-owned enterprises in court. That's why if those companies become the controlling shareholder of Hua Xia, all their problems will be solved.
The assets of those companies are not low, and they might go bankrupt with 200 million USD. That's an exaggeration. But 200 million USD is enough to break their capital chain.
So, these companies came up with an idea. They will use their assets as collateral for loans and use the loans to compensate the companies. You all want the shares of these companies? Sure. You all can take over a company with negative assets.
After that, we will see if Hua Xia still has the money to fill this hole. If they can fill this hole, they will still be the controlling shareholder. These companies do not believe that Hua Xia will dare to do this again. Hua Xia's reputation will be tarnished, and no one will invest in them again.
To ensure that others will not sue these companies, these companies must sign an agreement with Tai Hua Supermarket Corporation and the representatives of those internet companies to protect their interests. But Chief Jia and the rest did not notice this.
"Chief Jia, this is not a problem. I can agree to it. I am also willing to help. "
Chief Jia told Feng Yu about the situation, and Feng Yu agreed without hesitation. Let's not talk about whether other companies will sue those companies. Even if they think of suing those companies, it will be like what Chief Jia said. Once those companies are controlled by the Chinese government, small companies will not dare to sue.
Station Chief Jia was worried that Feng Yu would send someone to complain about him. If that happened, the situation would change drastically.
After getting Feng Yu's promise, Chief Jia is overjoyed. If this matter was done well, it would be a solid political achievement for him. Although he couldn't say that he would definitely be promoted, the higher-ups would definitely be very satisfied with him. At least when he retired, it shouldn't be a problem to raise his salary by half a rank, right?
Both parties wanted to speed up, and the negotiations went smoothly. John and the rest were relieved when they heard Feng Yu's promise.
Feng Yu is the World's Richest Man, and he will not keep his promise. They even felt that Feng Yu's promise is better than Chief Jia's.
But they told Chief Jia that the company's shares must be bought with money. They will not use their shares to pay for the company's shares. As for the purchase price, it had to be reasonable as well. One could not push the price too low.
Chief Jia and a representative from a state-owned asset agreed to this. This representative from a state-owned asset is the one who came to discuss the acquisition of those companies' shares.
Of course, they cannot let this state-owned asset buy all the shares. They must give some to the local government. But the total shares must be more than 50%, and they must have the majority of the board of directors.
The management rights can be handed over to these foreign investors. After all, they are more familiar with the company. But the power of the board of directors must still be in their hands. This is to prevent these foreign investors from playing tricks again.
One of the companies that was singled out was the weakest among the companies, and they were compensated 100 million USD. The other companies' compensation was less than 50 million USD, and the total compensation was less than 500 million USD. This was the highest compensation in the history of Hua Xia.
Wilson and the rest had calculated that this compensation amount was too low for CCTV's high viewership. But they also know this is Feng Yu's idea, and Feng Yu had signed some cooperation agreements with those law firms. These law firms are satisfied with the deal.
Furthermore, they will get more than 200 million USD compensation, and they are satisfied with this compensation. Based on their understanding, Hua Xia does not even get tens of millions of RMB compensation, let alone a few hundred million USD. They had made history.
Furthermore, they had the opportunity to enter Hua Xia's market. At least, those foreign companies will be interested in their services. The reason why they could get such a high commission was that they belonged to different countries. Speaking of which, the impact of this case was also shared by them. It was the lawyers' idea to ask for such a high compensation fee. There are still lawyers from your own country.
As a result, this matter was quickly resolved. Both parties settled out of court. At the same time, these companies signed equity transfer agreements with the state-owned enterprise.
When the state-owned company signed the contracts with those companies with the funds they got from CCTV, they realized something was wrong.
Firstly, those companies' products had not been selling for more than a month, and their production had stopped for a long time. Their workers' salaries had also been suppressed for a month.
Secondly, the companies had run out of money, and it was not enough to restart production. They can't even afford to buy raw materials. At this time, the state-owned company discovered another problem. The companies still owe the banks a lot of money. They had spent money to buy a burden.
When the state-owned company's representative questioned them, the other party still had the courage to refute. We really cannot afford to pay the workers back then, and we can only get loans. As for where the working capital is, we can just pay the workers' salaries and hand over the profits to the parent company.
Now, the companies do not have the funds to restart production. Shouldn't all of you contribute according to the proportion of the shares? Also, the loans might not be repaid when it matures. Should we think of ways to raise funds to repay the loans first?
The state-owned company's representative realized that they had underestimated these foreign investors. They were too happy to get the shares and forgot to check the contracts. The other party had tampered with the contracts again.
Also, they could not freeze the accounts of those companies. If not, the conflicts will worsen. Luckily, they had gotten the shares they wanted, and the companies were not empty shells. The brands, technologies, workers, etc. were still there.
This state-owned enterprise does not have the money to continue investing. They had to top up the money given to them by CCTV to buy these shares. The most frustrating thing was those lawyers had gotten half of the compensation. How come the compensation was so high?
Feng Yu listened to Wu Chih-gang's report and nodded. "The other party had taken advantage of the loopholes in the contracts again. But it's fine. They are only short of money, and I am willing to help. Zhigang, contact the state-owned company. We are willing to invest in those companies. "
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