The First Thousand Three Hundred and Eighty-Eighth Chapter Assets Sale

The 38.6% stake in Gulf Oil was purchased by Pacific Oil for a total of $4 billion.

It was originally less than four billion dollars, but Xia Yu was not short of millions of dollars, so he made up a whole number.

This funding, of course, all comes from the Galaxy Fund.

After all, the Pacific Oil Company is not under the banner of any consortium, and naturally it does not move the funds of those banks.

Moreover, this time to take over the assets of the Mellon consortium, the funds that need to be used are huge, and those are the funds that need to be used for bank assistance.

Although the major banks have mobilized a lot of funds to support financial companies to go long in the pound, the yen and the stock markets of various countries.

But after the old Mellon fell ill, Xia Yu ordered various financial companies to make changes and find other external banks to allocate part of their capital so that their major banks could raise funds.

In this way, you only need to pay a part of the deposit and pay interest, and you can use the funds of other banks without the need for substantial collateral, which is the most convenient and fast.

Speaking of the price, it will be nothing more than exposing some of the long actions and accepting the supervision of other banks.

But considering the general trend of the global financial environment, it doesn't matter if you go long anyway, it doesn't matter if you expose a part, you can't draw hatred, and there's no risk.

With these four billion dollars, the Mellon family's available funds exceeded ten billion dollars.

This time, the Mellon family has a lot of confidence.

Contrary to the previous retreat posture, it has frequently attacked in the capital market.

The purpose was stakes in New York Ins, Pittsburgh National Bank and General Re.

And the Mellon family is completely unreasonable and arrogant. If the premium is not enough, it will be five layers. If someone comes to grab it, it will double.

Anyway, it is inevitable!

Many of the original shareholders fell under the Mellon family's dollar offensive.

No way, it's too much!

At the same time, the Mellon family continued to supply ammunition and sell assets.

Xia Yu did not reveal his relationship with the Polaris consortium, but only stated that he was his ally. As for the Mellon family's guess, that was their business.

Since Polaris Capital acquired Wells Fargo,

Wells Fargo has never stopped the pace of mergers and acquisitions.

And the target of mergers and acquisitions is not aimed at those banks that are very difficult to acquire, but takes the bottom line and targets those community retail banks in various states.

The influence of these banks is still limited to each state, and their deposits mainly come from residents. Because of their strength, they lack high-yield investment channels. Therefore, they have empty assets and annual operating profits are not good.

And Wells Fargo is backed by Polaris Capital, and there is Xia Yu at the back. There is no problem that the funds have nowhere to use.

Therefore, Wells Fargo bought a community bank, which is called a fierce.

In just a few years, Wells Fargo has become a well-deserved American bank through continuous mergers and acquisitions.

How fierce is it?

Fifty-seven local community banks were acquired in five years!

Bank assets are the third in the United States to exceed $100 billion!

More than Chase Manhattan Bank, New York Morgan Assurance Trust Company.

In terms of assets, second only to First Citibank and Bank of America!

The total deposits of depositors also exceeded 100 billion US dollars, which is more than the first Citibank and several billion US dollars less than the Bank of America.

Next to Wells Fargo, there are Toronto-Dominion Bank, Northern Trust Bank of the United States and East West Bank.

Combined, the three banks and Wells Fargo have bank assets of $200 billion.

Therefore, although the liquidity of the Polaris consortium is not necessarily comparable to that of the Rockefeller consortium, which has hundreds of financial companies, it is also comparable to that of the first Citibank consortium.

With so much capital in hand, it is not too easy to acquire the assets of the Mellon consortium.

With US$210 million, it took over a 22.4% stake in Lai Aide, the second largest chain pharmacy in the United States.

$570 million to take over a 19.3% stake in Bergen Bruswig, a large U.S. drug retail and health insurance service company, which is the core company of the California consortium and was previously infiltrated by the Mellon consortium.

140 million US dollars, taking over a 22.8% stake in Mylan, a large generic drug company that went public in 1973. This company is the second largest generic drug company in the world in later generations, and it is only now emerging.

$220 million to take over an 18.7% stake in Comcast, Pennsylvania's largest cable TV, broadband network and IP telephony service provider.

1.07 billion US dollars, took over a 15.7% stake in the American Sun Oil Company. This 99-year-old company is a comprehensive group. In addition to being the second largest base oil service company and the third largest oil producer in the United States, it is also involved in chemical, coal, real estate and other industries. The US dollar acquired Texas Pacific Oil Company, and in 1984, it entered Huaxia and established Huaxia Sun Oil Company as a joint venture with Sinopec.

For $390 million, it bought a 14.2 percent stake in the Hershey Company, North America's largest chocolate and confectionery company.

320 million US dollars bought a 16.1% stake in the famous American Heinz Company. This company is a century-old company in the field of nutritional food. Later, it was fully acquired by Buffett and 3G Capital for 28 billion US dollars.

There are also 13.7% of American Air Products Co., Ltd., 16.3% of PPG Industries, and 24.2% of American Crown Holdings in the industrial field.

The three companies are major players in the fields of Industrial Gases and Coatings, Coatings and Specialty Materials and Fiberglass, Industrial Packaging and Equipment.

In addition, there are 12.2% of PPL (Pennsylvania Power Company) and 11.7% of Lincoln National Group in the financial sector.

Combined, the six companies cost $1.19 billion.

None of the above companies are the core companies of the Mellon consortium, and are assets of value investment.

Of course, it cannot be ruled out that the Mellon consortium has the intention of annexing these companies later.

It is a pity that with the advent of this crisis, the Mellon family had to abandon these unimplemented plans.

They chose to sell the equity of these companies and exchanged them for $4.11 billion to recover blood.

In addition to the sale of equity assets of value investment, the Mellon family also sold a 70.4% stake in the Philadelphia Naval Shipyard, the 15th largest in the United States, to Wells Fargo at a price of $1.03 billion.

The other tenth-ranked Pennsylvania shipyard in the United States, the Mellon family left a 33.4% stake and sold a 31.7% stake to Wells Fargo for $600 million.

Leaving this stake proves that the Mellon family has not given up, but Xia Yu is also happy.

In this way, the Pennsylvania Shipyard is backed by the Polaris consortium and the Mellon consortium.

With the strength of the two major consortia, it is much easier to compete for orders for the US Navy's warships and submarines. Maybe in a few years, the Pennsylvania Shipyard will rush into the top five.

As for the steel sector, the Mellon consortium has fully sold its assets.

Wholly owned Huiling-Pittsburgh Steel Company sold for $3.1 billion.

A 90.4% stake in Allegheny-Ludrum Industries, which is well known in the specialty steel field, was sold for $2.84 billion.

A 33.5% stake in Armco Steel was sold for $1.61 billion.

A 34.7% stake in National Steel sold for $1.25 billion.

The four companies sold for a combined $8.8 billion.

Including other assets sold, the Mellon consortium took a total of $14.54 billion from the North Star consortium.

After some intensive transactions, the working capital of the Mellon consortium suddenly exceeded 30 billion US dollars, and the confidence was enough.

Just because they took over these four steel companies, the Polaris consortium just joined the Cleveland consortium!