Chapter 1923 Don't Want to Buy It

"Chairman, Mr. Ralph asked me to report to you. The chairman of Tongyong Automobile has contacted us and wants to talk to you about the sale of their assets."

Ralph and Masao Kameda are both in Europe at this time, and Feng Yu is here, so it is natural for Feng Yu to decide on major issues.

Besides, this matter does not belong to Fengyu Holding Group, but should belong to Taihua Holding Group. The automobile business must be merged into Bingcheng Machinery Manufacturing Group.

At the beginning, Feng Yu talked with Tongyong Automobile and Ford Automobile at the same time, so that both companies knew that the other party was talking, and thus acquired a lot of high-quality assets at a very favorable price.

Basically, all the money was spent by Huaxia state-owned assets, including Jiebao acquired by Bingcheng Machinery Manufacturing Group. Feng Yu's funds were all in the financial market at that time.

At that time, Tongyong still had some high-quality assets that Feng Yu liked, such as brands, technologies, sales channels, etc. in the Australian market or the North American market, but Tongyong was unwilling to sell them at that time.

Last year, Tongyong lost tens of billions of dollars on its books, and this year the losses are still expanding, and there are still some losses that are not shown on the books.

Ford Motor sold most of its foreign assets at the beginning, and made a good joke for its peers, thinking that Ford had cut off all the roads of external expansion in these years, and the gain outweighed the loss.

But now, Foote has begun to break even, and it is expected to be profitable by the end of this year. Although they only kept their North American market, the European market has lost most of their efforts over the years, but this is their base camp, and they still have sufficient funds to expand their business in car rental.

Tongyong's mortgage loan company has taken back a lot of mortgaged cars, which can only be sold as second-hand cars at low prices, and they have to hit their own market.

Foote is different, directly assigned to his own car rental company, in North America and even Europe, Foote has a car rental business, they are the largest in the world.

As for Kelesle, although it was repurchased by the consortium of the United States, it is a pity that it still made money when it was bought, but it started to lose money after buying it back, and it is still losing money until now.

That is to say, they are a consortium formed by many rich people, and they can spend a lot of money to ensure that Colesle will not be as miserable as the same car.

However, seeing that Tongyong Auto had already filed with the government, and when it was about to apply for bankruptcy protection, Kelesle also put forward conditions for the government to provide assistance funds.

It is better to use the government's money to save the company than to pay for it themselves. If they can't save it this time, they won't lose all their wealth.

However, the pitfalls of shared cars are too great, and the funds used to save companies on the verge of bankruptcy in the United States are simply not enough. There was such a big crisis in Xiaobu's tenth term at the beginning, but Xiaobu's tenth resigned safely, and at this time he was giving speeches all over the United States to make money.

But the successor, Obaniu, was more tragic. When he came to power, he was so troublesome.

The support funds obtained by Xiao Bushi were not enough at all. As a last resort, the US government begged again, issued a lot of national bonds, and raised a large sum of money.

The U.S. government has also learned from Europe, and directly turned some particularly important enterprises into state-owned holdings, or even state-owned assets.

When it was his turn to use the car, Obaniu hesitated. This required too much money, the debt was so high, and he had to continue investing, and the government didn't have so much money.

During the bankruptcy protection period, they need to quickly restructure the assets of the company, divest some non-performing assets, and ensure the competitiveness of the company, so that the company can repay its debts through profits.

At this time, the government has also ordered the same cars, you have to find a way yourself, learn from Ford Motors, sell some assets, get back some cash, and redeem yourself.

But at this time, the global auto market is in decline, including Daimler, BMW, Crazy Field, Dezhong, Bentian, Hyundai and other car companies are losing money, but they suddenly discovered that there are so few car companies, not only Last year, the turnover did not decline, and there was still a high growth rate, and the profit also increased, that is, several car companies in China.

Among the Huaxia car companies, the most powerful one must be the Bingcheng Machinery Manufacturing Group. This is undoubtedly the number one large car company in the world.

Others include Modu Automobile, Yiqi, Yangcheng Automobile, Jingcheng Automobile, etc., and their strengths have also improved rapidly. Of course, these are all due to China's use of automobiles as a pillar industry and its strong support.

Didn't Tongyong Automobile contact Shanghai Modu Automobile first? We also cooperated with each other at the beginning. Didn't they also sell the shares of their joint venture car factory to Shanghai Modu Automobile?

However, Modu Automobile directly refused. After buying the shares of Tongyong Automobile’s joint venture car company in China, they upgraded the technology and bought some patent licenses from Europe, so now they have no money. Not interested in.

Tongyongche contacted the large car companies in China one by one, and even contacted some car companies that were not ranked in China, but either the other party didn't plan to buy it at all, or they quoted a cabbage price and didn't remember it. debt.

In the end, they found that they could only contact Bingcheng Machinery Manufacturing Group, but they said that it was just in time for the chairman to change, and the old chairman was about to retire, so they also refused.

Li Mingde is old and plans to retire. He has a consultant title in both Taihua Holding Group and Bingcheng Machinery Manufacturing Group. He is the chairman of Bingcheng Machinery Manufacturing Group. He recommended Li Dafu, Feng Yu, Zong Qingxian, Liu Chuanzhi, etc. No one has any objections, and the state-owned assets side has no objections, but it still takes time to make a handover and go through procedures.

No, the same car is in a hurry, and it doesn’t matter to let the other party know that they are in a hurry to need funds, which will lower the price. Contact Ralph directly, hoping to contact Feng Yu here, they want to continue to let Feng Yu buy some of theirs assets.

Knowing that Feng Yu is in New York, Tong Yongche can't wait to have an interview with Feng Yu immediately, they need money very much now.

Feng Yu looked at the information handed over by Ralph's assistant, which was a detailed assessment of the assets of the same car at this time.

Tsk tsk tsk, too many are marked in red fonts, these are bad assets that are not worth buying. As for green high-quality assets, there are not many at all, including several major brands of Tongyong Automobile.

As for ordinary assets between high-quality and bad, there are quite a few, and this needs to be considered comprehensively. If it can complement the business advantages of Bingcheng Machinery Manufacturing Group, then it is equivalent to a high-quality asset. If it cannot complement each other, but it is repeated, it is a non-performing asset.

Seeing so many non-performing assets and only so many high-quality assets, Feng Yu, who was originally excited and planned to take the opportunity to continue to expand, suddenly didn't want to buy it.

Same car, too rubbish, no wonder they filed for bankruptcy!

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