Chapter 435 435 Acquisition of the largest Chinese bank! Strategy in Greater China!

Wang Guanxi listened to Feroz Sanhavi arrogantly talking about letting his Messi department store go bankrupt for a year, and he laughed: "Ferozi Sanhavi, you take yourself too seriously, talk about it, What retail company have you invested in?"

  Feroz Sanhavi sneered: “I invested in both of the Macy’s competitors, and the appointed director happened to be with the Macy’s.”

   "But I won't tell you the specific name!"

  Wang Guanxi asked: "The Kroger Co. and Costco?"

  Kroger, Costco is a giant in the US retail industry.

  Feroz Sanhavi smiled and said: "Guess it yourself"

   "Honestly, you are really bad-sighted!"

   "I don't want to say anything about mine!"

  Wang Guanxi chuckled: "Say, it's okay to say you!"

  Feroz Sanhavi immediately said unceremoniously: “You bought 40% of the Ford Motor Company at 5 times the market price from the Ford family, and spent $1 billion. Do you think it’s worth it?”

"And you also spent US$2.7 billion to increase your holdings of Ford Motor Company's stock. Now Ford Motor Company's stock price has fallen to US$1.4 per share. This Ford Motor Company, like General Motors and Chrysler Motors, is on the verge of bankruptcy! "

  “I really don’t know what your investment vision is. You even let Huntington Bank, Fifth Third Bank, Silicon Valley Bank, and Standard Chartered Bank lend $4 billion to Ford Motor Company!”

   "The Ford Motor Company has a debt of 236.8 billion U.S. dollars and a net worth of negative 14.5 billion U.S. dollars!"

  "Now that the economic crisis is so serious and the global industry is in depression, the auto industry is even more terrible. Do you think this Ford Motor Company can save it?"

   "I'm just waiting for Ford Motor Company to go bankrupt, Macy's Department Store goes bankrupt, and then your Huntington Bank, Fifth Third Bank, and Silicon Valley Bank also go bankrupt."

Wang Guanxi smiled: "You can go short Ford Motor Company, Macy's, Huntington Bank, Fifth Third Bank, Silicon Valley Bank, I can lend all the stocks to you short, the monthly interest is 1%, Feroz. Sanhavi, dare you?"

  Feroz Sanhavi responded: "There is nothing to dare, but the time is not there, and I can't spare time to short these junk companies."

  Wang Guanxi said: "If you dare not, don’t look for such a reason. Since you say that these companies under my control will go bankrupt, you can go short, dare to dare, dare to dare, dare to dare!"

Feroz Sanhavi smiled: "I have a sledgehammer. I am a killer, not a chicken. The stock prices of these companies under yours have fallen into shit, and the market value is low. It is not in my eyes. Wait for me. Withdraw your hand and let your subordinates use chicken knives to kill chickens, don't worry!"

  Wang Guanxi did not expect that the grandson of Feroz Sanhavi would pretend to be X, and was also coldly responded: "What are you pretending, what excuses are you looking for! It's just you!"

Feroz Sanhavi chuckled: "The same sentence, I don’t need a sledgehammer, Feroz Sanhavi, I’m waiting for your Ford Motor Company, Macy’s Department Store to go bankrupt, Huntington Bank, Fifth Third Bank. , Silicon Valley Bank went bankrupt"

Wang Guanxi was amused by Feroz Sanhavi’s words, and said: "Ferozi Sanhavi, you and Gilayu Amin of United Bank of India must have suffered a terrible loss this time on Bank of America. , Don’t sell its stock if you have a seed."

  Feroz Sanhavi: "So what? I didn't intend to sell at all. The stock price of Bank of America may have bottomed out, so I just need to keep it."

  Wang Guanxi smiled and said: "Don’t be naive, your Imperial Bank of India has also suffered from an economic crisis and needs money, so you are eager to sell some financial assets that are not promising, and even you want to sell the shares of Bank of America."

  "Now you are looking for a buyer to sell shares in East West Bank, right?"

   Talking about East West Bank again, Feroz Sanhavi suddenly said: "Wang Guanxi, are you interested in buying the equity of East West Bank in the Indian Imperial Bank?"

  Wang Guanxi asked: "How many shares of East West Bank do you hold?"

  Feroz Sanhavi: "15%, Union Bank of India holds 5%, which adds up to 20%"

  Wang Guanxi said: "It's only 20% of the equity. I thought you had a controlling stake in East West Bank."

  Feroz Sanhavi: "No, the holding of East West Bank is Bank of America Corporation, which controls 30% of East West Bank."

  Wang Guanxi: "Market price, I will buy it all!"

  Currently, East West Bank’s stock price is at US$7 per share, with a share capital of 140 million shares and a market value of US$980 million.

  Although the current market value is low, the future market value is more than 10 billion U.S. dollars. In particular, East West Bank is a commercial bank mainly targeting Chinese Americans and is deeply loved by Chinese American customers.

  Moreover, there are many people who travel abroad in China, or the rich are all customers of East West Bank's international business.

  Now it has acquired East West Bank, and it is not bad to be included in Wang Guanxi’s banking system.

  In the future, East West Bank’s business will not only target the Chinese American community, but also target the global Chinese community.

  At this time, Feroz Sanhavi on the phone asked: "Do you also want the 30% equity in Bank of America?"

  Wang Guanxi said: "Of course I want it all, just the market price!"

Feroz Sanhavi said, "That's right, Gilayu Amin, and a senior president of Bank of America are in California. Your Silicon Valley Bank is headquartered in California. Let the lawyer come. We will sign the contract right away. Our Imperial Bank of India, Union Bank of India, and Bank of America will hold a total of 50% of the equity, and the transaction will be done at the market price."

  The situation of East West Bank is very bad now. The stock price must continue to fall sharply. It is normal for the market value to fall below US$500 million.

  Now he just wants to get rid of these bad financial assets.

Gilayu Amin of United Bank of India also wants to sell.

  Bank of America is in crisis due to lack of money, and it also wants to sell the equity of East West Bank.

  They contacted some buyers, but they were not interested.

  Wang Guanxi appeared, it’s great to be the picker.

  Thinking of this, Feroz Sanhavi was very excited, and calmly asked: "Wang Guanxi, 500 million dollars, right?"

  Wang Guanxi: "Okay, then $500 million. Let's make a deal. I will immediately ask Greg Becker, CEO of Silicon Valley Bank, to bring a lawyer to sign a contract with you!"

   "OK!" Feroz Sanhavi thought for a while and asked: "Wang Guanxi, you really don't plan to close the short position of Bank of America?"

  Wang Guanxi said lightly: “I don’t plan to close the short list of Bank of America for the time being. If you want to settle the stocks of Bank of America, then the price of 3 dollars per share will be settled!"

  Feroz Sanhavi smiled: "The price of 3 dollars per share, you think too much!"

  Wang Guanxi smiled and said, “Forget it, I’ll just wait for Bank of America’s stock price to continue to fall, and then I will slowly liquidate my position!”

"Okay, wait slowly and close the position slowly. I'm going to see where the stock price of Bank of America can fall!" Feroz Sanhavi looked at the time and said, "Send yours. Come over to the Bank of America branch in San Francisco. Gilayu Amin, and the senior president of Bank of America are drinking tea here!"

  Wang Guanxi: "Okay, I will call Greg Becker, CEO of Silicon Valley Bank, and ask him to come to you to sign a contract with the lawyer!"

  After finishing the call, Wang Guanxi immediately called Greg Becker, CEO of Silicon Valley Bank.

  As soon as the call was connected, Greg Becker asked excitedly: "Boss, are you planning to come to California?"

  Recently, he has been searching for the founder of the technology company arranged by Wang Guanxi, waiting for Wang Guanxi to come to California's Silicon Valley.

  Wang Guanxi said: "I will go to California Silicon Valley to invest in technology companies in a while, now I have a task for you."

"BOSS, what's the task?" Greg Becker was a little excited, extremely eager to show his abilities in front of Wang Guanxi. Currently, BOSS owns three banks and two Fortune 500 companies, especially in his family. Planning to enter politics requires a large amount of financial support.

  Wang Guanxi said: "I want to buy East West Bank in California. I have already negotiated with shareholders. You take your lawyer to the Bank of America branch in San Francisco and sign a contract with the Imperial Bank of India, Union Bank of India, and Bank of America Corporation!"

"Yes, BOSS" Greg Becker quickly put on his black suit, black tie, combed black and white short straight hair, hurriedly left home, called the lawyer, and rushed to the Bank of America branch in San Francisco. .

  At this moment, the branch of Bank of America Corporation in San Francisco.

  Three men are drinking tea.

  Feroz Sanhavi of Imperial Bank of India, Gilayu Amin of United Bank of India, and Keith Banks, senior president of Bank of America.

  Feroz Sanhavi excitedly said: "The Huaxia King Shrimp has agreed to buy 50% of East West Bank's equity in our hands for 500 million US dollars."

   Gilayu Amin with a disdainful smile on his mouth, said: "This old Chinese fat pig has acquired 50% of the equity of East West Bank this time. It must be trapped to death."

  The share price of East West Bank has fallen really badly. It is very normal that it will fall below $5 per share next week.

Keith Banks, senior president of Bank of America, also smiled and said: "This Ohio rancher is really rich. To be honest, the stock price of East West Bank will not be good in the future in the economic crisis. We Bank of America is also planning to sell its equity in East West Bank, but I didn’t expect the taker to come so soon."

Feroz Sanhavi smiled and said, "Mr. Keith Banks, that Huaxia King Prawn recently made a lot of money. He bought Ford Motor Company and Macy’s in the United States and collected a lot of loans. Fill the hole, he will be finished"

   Keith Banks smiled and said: “I also held Ford Motor Company’s stock before. Fortunately, it sold out early. Otherwise, Ford Motor Company’s stock price has fallen to 1.4 US dollars per share. I don’t know how bad the loss was.”

Gilayu Amin smiled and said: "Macy’s and Ford Motor Company are huge black holes. The money for this China Fatty Pig must have been squandered, but this China Fatty Pig shorted Citibank, Wells Fargo, and Bank of America. The company has made a lot of money!"

Feroz Sanhavi: "Citibank and Wells Fargo have closed their positions, and they have also sold out Citibank and Wells Fargo. At present, the stock prices of Citibank and Wells Fargo are still falling, and his funds have been trapped. "

  Thinking about it, he continued: "I guess Wang Guanxi will close the short list of Bank of America Corporation next week."

   Gilayu Amin: "I hope so"

  Currently, the Imperial Bank of India and the United Bank of India hold a large number of shares of American Banking Corporation, which are caught to death.

And Keith Banks suddenly reminded: “The two of us Bank of America acquired a large amount of non-performing assets because of the acquisition of the Merrill Lynch Group. Although the performance has become bad now, the future will soon be digested. profit"

  Feroz Sanhavi asked: "Mr. Keith Banks, will Bank of America and Citibank be nationalized?"

   Gilayu Amin also asked: “Yes, Citibank has been nationalized, and the dividends of common stock and preferred stock have been stopped. Will Bank of America have the same experience?”

   Keith Banks sighed: "I'm not sure about this!"

After thinking for a while, he said: “Now Bank of America is also in crisis. It needs to sell assets that are not promising. We bought the equity of East West Bank in 2000. At that time, the price was 7 US dollars per share. When sold for $7 per share, none of these assets have appreciated!"

  At that time, he contributed to this investment, and now he wants to play without losing money.

  While East West Bank is now worth 1 billion U.S. dollars, Bank of America Corporation holds 30% of the equity, worth 300 million U.S. dollars.

  The US$300 million in 2000 is the same as the US$300 million in 2009. Taking into account inflation, Bank of America has lost money this time by investing in East West Bank.

Feroz Sanhavi sighed: "We, Imperial Bank of India, bought 15% of East West Bank in 2007. At that time, the stock price was 40 US dollars per share. We spent 840 million US dollars. Now we can only get it back. 150 million dollars!"

   Gilayu Amin also said: “Fortunately, our Union Bank of India only bought 5% of the equity. This time the loss is not too much.”

  In a flash, Greg Becker, CEO of Silicon Valley Bank, brought a lawyer.

  Then everyone signed the agreement.

  Imperial Bank of India, Union Bank of India, and Bank of America, three financial institutions, sold 71 million shares of East West Bank to Wang Guanxi’s No. 1 Fund at a market value of 7 US dollars per share.

  Wang Guanxi’s No. 1 Fund paid a total of US$500 million, leaving US$2.78 billion.

  Then Wang Guanxi’s No. 1 Fund donated 50% of East West Bank’s equity to the Crown Bank Holdings Fund under the Crown Charity Foundation.

  At this point, Wang Guanxi owned four banks in the United States.

  Huntington Bank, Fifth Third Bank, Ohio.

  California, Silicon Valley Bank, East West Bank.

  Now that East West Bank has been taken down, the management of East West Bank needs to be replaced, so Wang Guanxi called Greg Becker, CEO of Silicon Valley Bank again.

After    was connected, Wang Guanxi said: "Greg Becker, among your friends in California, is there a suitable candidate to be the CEO of East West Bank?"

Greg Becker thought for a while and said, "BOSS, the current CEO of East West Bank, Wu Jianmin, knows me. He has been working for East West Bank for many years. When Bank of America entered the head of East West Bank, he was appointed as the chief. Executive officer."

  Wang Guanxi said: "Since he is your friend, a professional manager who has also worked at East West Bank for so many years, then call him to Columbus, Ohio, and I will see you"

   "Okay, BOSS, I also happen to be going to Columbus, I will come with him tomorrow" Greg Becker said excitedly: "We just happened to see you Crown Ranch."

  Wang Guanxi nodded: "Well, then you also come to Columbus, and now I control four banks under my control, you just have a chat!"

  "Good BOSS!" Then Greg Becker hurriedly called Wu Jianmin, the CEO of East West Bank.

  At this moment, in the headquarters and president's office of East West Bank, a middle-aged man has a sad face. East West Bank has changed to a new boss. All this is very sudden. He does not know what his destiny will be in the future. Should he continue to work or leave East West Bank?

   Then he opened the stock chart of East West Bank and said to himself: "The economic crisis broke out and East West Bank was hit hard. The stock price fell to 7 US dollars per share. The current decline has not ended."

Before, he himself bought hundreds of thousands of shares of East West Bank with his own money, but was trapped to death. Coupled with the financial crisis, several small companies he invested in went bankrupt, and the joint venture company he and his brother-in-law had also gone bankrupt. It can be said that the loss was heavy, and the brother-in-law owed a lot of money personally. In order to collect the funds, he had to sell the shares of East West Bank and cashed out a lot of money to fill the hole for the brother-in-law.

   "Now that the big boss of East West Bank has changed, I don't know if East West Bank has been hit hard by firing me?"

  At this moment, Wu Jianmin is worried in his heart that he will be fired by the new boss of Huixin.

  At this time, the phone wanted to ring. It was Greg Becker, the chairman of Silicon Valley Bank. The two were friends.

After    was connected, Greg Becker told him to let him go to Ohio to meet the new boss tomorrow.

  Wu Jianmin was very excited: "Greg Becker, it turns out that the new boss of Silicon Valley Bank is also the big boss behind your Silicon Valley Bank."

   "Well, buy a ticket. Tomorrow we will go to the crown dealer in Ohio to meet the boss!"

"OK!"

  ··

  The next day, February 28, Saturday, evening.

  Greg Becker and Wu Jianmin came to the Crown Manor in Ohio.

  They first flew to the International Airport in Columbus, and then they were taken to Crown Manor by car. The two were shocked by the huge ranch.

  It's too big here.

  Then the two came to a large villa that was being expanded, when Wang Guanxi came out.

   "BOSS!"

"Hello, Mr. Wang, I am Wu Jianmin, the current president of East West Bank." Wu Jianmin is now shocked, although when he was on the plane, he heard Greg Becker say that the boss is very young, and he didn't expect to see him. At this moment, the storm in his heart could not help but surge.

  Wang Guanxi nodded and said, "Come in, dinner is ready, let’s have dinner first."

  So the two entered the villa.

  Dinner was ready. Stephen Steinor, Chairman of Huntington Bank, and Alan Fishman, Chairman of Fifth Third Bank were all present.

  Everyone talked about the U.S. economy, finance, and currency.

  After dinner, Wu Jianmin took out a report and handed it to Wang Guanxi.

  "Mr. Wang, this is the latest balance sheet of East West Bank!"

   "Hmm!" Wang Guanxi nodded, and then looked at it carefully.

  This East West Bank provides commercial and personal banking services, mainly including commercial loans, commercial deposit services, cash management services, international banking and foreign exchange transaction services, small business (SBA) loans and retail banking services.

  There are more than 120 service networks in the United States and Asia. The U.S. market is mainly distributed in California, Georgia, Nevada, New York, Massachusetts, Texas and Washington, and in Asia, it is mainly in Hong Kong and Beijing.

  It is the largest commercial bank in the U.S. with Chinese descent as its main market, and its current total assets are $12.4 billion.

  The loan released was US$8.6 billion.

  Hold bonds of US$2.2 billion.

  Goodwill is 330 million U.S. dollars.

  Fixed assets 60 million US dollars

  Intangible assets 168 million US dollars

  ···

  And the total debt is 10.9 billion US dollars.

  Customers deposit 8.14 billion U.S. dollars.

  Short-term borrowings of US$160 million

  Long-term borrowings of US$1.6 billion.

  Other liabilities are USD 1 billion.

  Currently, East West Bank’s net assets are US$1.5 billion.

  Last year, it lost 450 million U.S. dollars.

  Wang Guanxi said: "Mr. Wu, I want to hear about your future development plan for East West Bank"

Wu Jianmin immediately said: "Mr. Wang, the share of the U.S. market has been occupied by major banks. I plan to target the international market in the future, especially for Chinese customers. I want to build a Greater China business in Mainland China, Macau, and Hong Kong. These groups of Chinese descent provide international business, such as studying abroad, traveling, and securities brokerage services for mainland Chinese people..."

  Wang Guanxi nodded in satisfaction: "This idea is very good, just like I thought!"

   Then he continued to ask: "You have been in Huamei India for 8 years, right?"

   "Yes, Mr. Wang!" Wu Jianmin nodded.

  He joined East West Bank in 1999 and became the chief executive officer. He slowly developed East West Bank from a small savings and loan agency into a full-service international commercial bank with USD 12.4 billion in assets today.

  Currently, East West Bank ranks among the top 100 U.S. banks in terms of total assets and market value, and has been named the 100 best banks in the U.S. by Forbes for four consecutive years.

  Wang Guanxi then took a closer look at Wu Jianmin's information.

  In January 1999, it acquired China United Bank with assets of 108 million U.S. dollars. In September of the same year, it merged with American International Bank with assets of 199 million U.S. dollars.

  In November 2000, it acquired a major bank (PrimeBank), with assets of 108 million US dollars.

  In March 2003, the acquisition of Pacific Business Bank was completed, and the bank’s US$165 million assets and four branches were successfully integrated.

  In August 2004, it purchased TrustBancorp Inc. (TrustBancorp Inc.), which has four branches, with total assets of US$235 million, and strengthened the bank’s business share in the Chinese community.

In March 2006, it acquired Standard Bank. The acquisition increased assets by US$923 million, making the bank's total assets exceed US$10 billion, and the number of branches increased from 55 to 62. It grew rapidly and became its headquarters in California. The second largest independent commercial bank in downtown Los Angeles.

  In April 2007, it acquired Desert Bank, which has assets of US$532 million and nine branches.

  This Wu Jianmin is also a very capable person. No wonder that when Bank of America Corporation took over East West Bank, Wu Jianmin was still the CEO.

  Wang Guanxi said: "Mr. Wu Jianmin, you will continue to serve as the chief executive officer of East West Bank in the future, and at the same time serve as the chairman of East West Bank!"

   "Yes, BOSS!" Wu Jianmin was very excited and excited.

  I did not expect to become the chairman of East West Bank this time.

  The chairman of East West Bank has always been a person designated by Bank of America Corporation.

  Now that the major shareholder has changed, he has become the chairman of East West Bank.

  What a surprise.

  In the future, he will have a grand plan to build business in Greater China.

  At this time, Wang Guanxi asked again: "Were you born in Hong Kong before?"

  Wu Jianmin quickly said: "Yes, BOSS, that was before I was 5 years old. Later, I moved to Pasadena, California with my parents."

Wang Guanxi nodded: "In the future, the business of East West Bank will also be concentrated in the global Chinese community. I hope to open more branches in the mainland cities to provide some international business for the mainland customers of China, for their international travel, study abroad, and overseas. Investment provision services"

   "Yes, BOSS!" Wu Jianmin nodded solemnly.

Then Wang Guanxi called Greg Becker, the chairman of Silicon Valley Bank, and said: "You help me investigate California technology companies in California. After a while, I will go to California to invest in these technology companies! "

  Greg Becker said: "BOSS, I have contacted the founder of Facebook Mark Zak, do you want to raise funds for Facebook now?"

  Wang Guanxi smiled and said: "Don’t worry, wait until I go to California first, yes, contact Elon Musk and say I can solve his funding problem..."

   Then Wang Guanxi talked about the entrepreneurs of some companies.

  Greg Becker and Wu Jianmin listened carefully and wrote down.

  The next day, March 1, Sunday, the two hurried back to California.

  This time, Wang Guanxi’s investment in California will require a lot of money, and he may also need to acquire some companies. Fund 1 has 27.8 funds left, which is definitely not enough.

  Then Wang Guanxi said: "Starting from Monday, keep an eye on the stock price of Bank of America. If the stock price of Bank of America drops below 3.00, start closing the position."

  "Yes, BOSS" Wu Zhanhai, Lu Jianyan and others are very excited.

  At this time, the phone rang. It was Feroz Sanhavi of the Imperial Bank of India. It was connected. Wang Guanxi asked: "Feroz Sanhavi, what's the matter?"

  Feroz Sanhavi said: "Wang Guanxi, I want to talk to you about the stocks of Bank of America."

  Wang Guanxi was taken aback, then smiled and asked: "Feroz Sanhavi, do you want to accept your knees and settle stocks with me?"

  Feroz Sanhavi suddenly became angry: "It's not kneeling, you are not qualified to let me admit my knees!"

  (End of this chapter)