Marco wondered if Feng Yu was deliberately tricking him and if Feng Yu didn't have any plans to invest in Dezhong Group.
However, he didn't dare to take the risk. Feng Yu's attitude was too domineering and didn't give him a chance to negotiate. Who asked Dezhong Group to be so unlucky and seriously lack money?
Although 10 billion USD wasn't a lot and might not be able to pull Dezhong Group out of the mire of bankruptcy, it was very important for Marco.
If the negotiation was successful, then he would have credit and could continue to sit in the position of chairman and CEO, and he could continue to get a high salary. Normally, the executives of large listed companies would get annual salary plus stock rewards. However, he didn't want the stock rewards now and only increased his annual salary.
Why? Wasn't it because Dezhong Group was going to be taken off the market? The stock price had been low for a long time, and if it continued to stay in the market, bankruptcy would be inevitable.
Marco reported this matter to the shareholders, which naturally included the US government.
They were all scolding Marco and felt that he wasn't doing his job well, but they didn't dare to let Marco reject directly. Especially a few major shareholders, they were eager to get some cash from Dezhong Group as the company was in dire need of money.
It was normal to operate in debt, and many companies operated in debt. However, they were the only ones whose debt was more than double the value of the company's assets.
Although they knew that the US government wouldn't just watch them go bankrupt because the impact would be too big and might worsen the US economy.
However, the government also needed time to raise funds, and they had to fight for this buffer period. Also, with money, they could reduce their debt and respond faster to prevent the situation from getting worse.
In Feng Yu's previous life, Dezhong Group only started to make profits before Feng Yu's rebirth, and the annual profit was only a few hundred million USD.
The annual sales volume was more than 9 million, but the profit was only a few hundred million USD. It could be seen how big the impact of their debt was. Debt was something that would only get bigger and bigger.
Feng Yu had really returned to his office and was paying attention to Dezhong Group.
Dezhong Group hadn't been developing very well in recent years. In 2004, due to poor management and high production costs, Dezhong Group had to sell some shares to have money to continue operating.
Of course, it was also because this year, the European Union wanted to abolish the special provisions of the Saxon government in Dezhong Group, which were actually local protection and restricted the rights and interests of other shareholders.
In his previous life, at least De Zhong was doing well in Hua Xia and made quite a lot of money. But in this life, Bing City Automobile is the leader in the Hua Xia market, and Dezhong and other joint-venture automobile manufacturers cannot make any profits. Hua Xia is different from Feng Yu's previous life. All of them are using alternative technologies to market their own cars.
Last year, when the global automobile sales were declining, Hua Xia's sales exceeded 11 million units. Other than Bing City Machinery, the rest of Hua Xia's major automobile manufacturers had performed well.
This can be seen from Hua Xia's acquisition of foreign brands.
It was the same this year. While the European and American automobile companies were racking their brains to turn around the declining market, Hua Xia's side was "enjoying a good view". In the first quarter, its sales exceeded three million units, and its performance continued to be good. It seemed that it would exceed 13 million units this year.
De Zhong did not have the advantage of Hua Xia's market in Feng Yu's previous life and is doing badly in this life.
Porsche saw that the opportunity had come. Furthermore, Dezhong Group was created by the founder of Porsche Group, and the person at the helm right now was the third generation descendant of the founder. They could be considered cousins.
Porsche Group had always wanted to 'take back' Dezhong Group, so they took advantage of the time when Dezhong Group was selling shares and issuing more shares to raise funds. They increased their shares to more than a quarter and became the largest shareholder of Dezhong Group.
After that, Porsche pushed the European Union to abolish the special provisions of the German Dezhong Group. This way, they will have the opportunity to control Dezhong Group after becoming the biggest shareholder.
Dezhong Group needs to develop, but what can they do without money? Like many other companies, they issued some stock options. These are bonds that can be cashed out or converted to the company's shares when they mature.
The Porsche Group had taken a loan of 10 billion euros and was slowly eating it up. They announced to the public that they only want to increase their shares and have no intention to acquire it.
In this lie, Porsche controlled 42% of Dezhong Group's shares, which shocked the German government.
At the same time, they also had a large number of stock options. In total, almost three-quarters of the shares were in their hands.
Porsche didn't have so much money at that time. Porsche's market value was only a few billion Euros, and Dezhong Group's assets were several times that.
That's why Porsche not only took a loan, but they also received support from many hedge funds. However, Porsche Cars also started to lose a lot of money at this time. They made high-end luxury cars, which was very expensive. At this time, they had more than 2 billion Euros in debt, and this doesn't even include Porsche Holdings Group's debt.
Dezhong Group's shares kept going up and down, and many hedge funds lost money. The German government also started to consider how to fight back. Dezhong Group must not be acquired. What they needed the most now was money.
As for how to raise money, there were only a few old ways. One was for the shareholders to take out the money, and Dezhong Group's biggest shareholder, Porsche Group, naturally wouldn't agree.
Or the German government could take out the money and buy back the shares. Unfortunately, due to the economic crisis, the German government didn't have that much money.
The other way was to let Dezhong Group issue more shares or bonds, but they were afraid that Porsche Group's shares would soar again, and Dezhong Group would really become a subsidiary of Porsche Group.
That's why Dezhong Group really contacted Ralph and hoped that Feng Yu would invest in them. They promised high interest and hoped that Feng Yu would buy their bonds, but they weren't willing to give him the shares.
Of course, Dezhong Group also had another thought. After Feng Yu became their shareholder, the Hua Xia market and even the Eastern Europe market would be opened to them.
If Porsche and Dezhong Group's acquisition was placed in Hua Xia, it would be a typical case of an individual swallowing the state's assets, but it was legal. Also, Feng Yu didn't intend to get involved in this kind of competition between cousins.
Dezhong Group needed money now to acquire Porsche Cars, but Porsche Group also had the shares of the family that was at the helm of Dezhong Group. From Feng Yu's perspective, these two cousins might not get along on the surface, but they actually wanted to kick the German government out.
Feng Yu put down the information on Dezhong Group. Forget it. If he was not careful, he might be tricked by these two cousins. Now, he just had to see if Marco would agree. He also hoped that this nail in the car would be more useful!
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