Chapter 1697

"Palangi, according to our previous agreement, Land Rover belongs to your Tata automobile, and a factory in North America belongs to you. You should choose it first, invest according to the contract amount, and bear the corresponding debts." Feng Yu said generously.

In fact, palangi is not very happy. He still wants Waupaca, but the acquisition is all under the chairmanship of wind and rain holding group. What's more, Huaxia XX investment company pays for it. It's very good to give them a Land Rover. What's more, the North American factories let them choose first.

Fortunately, he also knows that it's not to stop talking with the user side, but to pause first, when the user side becomes more depressed, and then to negotiate. In return, Tata will still get one or two good car brands.

"Then we'll take that." Palangi picked up a document, the largest of the three factories, but not the best, but Tata now wants to expand.

"Yes, then Jiebao will return to us and sell to Bingcheng machinery manufacturing group later. Xu Zong, you want the shares that are used by all demons. Do you want the shares of Chang'an Fute? And wolverine, are you sure you want all of them? "

"We have all the shares of the joint venture company, and Waupaca is sure to have all the shares, but we can let you have a factory. It's agreed in North America that we also have a factory, right? We want this one. "

General manager Xu also said his own conditions, or the conditions that had been studied by the head of the Department, which were also discussed with Feng Yu in advance.

"Well, then we will set up an asset management company as agreed, and then we will reorganize these assets. We will take out the non-performing assets in proportion."

Ralph means to buy out the liabilities on the side of non-performing assets. That is to say, pay off the debts at one time, and the remaining workers will directly pay compensation to buy out the contracts, and then some companies can directly cancel them.

Tata thinks that direct buyout is not cost-effective. Although it will pay some interest for these debts every year in the future, it can relieve the current capital pressure and make them not invest so much money at once.

In terms of state-owned assets, it doesn't matter. They have money now and can afford to buy it out, but it's also good to give less money and invest the money they save.

But they also understand that the current economic situation looks good, but the impact of the subprime mortgage crisis has emerged. Many small real estate financial companies are not bankrupt. Then the economic situation is likely to turn sharply. They are not confident that they can make money by investing at this time.

Generally, this large amount of capital investment will choose some long-term stable investments, such as blue chip stocks, such as high-quality long-term bonds, such as high-quality funds, etc.

As for the investment in the futures market, the general state-owned capital will not make such a risky investment. The only thing they have ever done is to invest in gold. They dare not use more than twice the leverage, for fear of a careless loss. No one can bear the responsibility.

Although gold has been rising in recent years, it is not a time when it has not fallen. The level of state-owned assets is average. Generally speaking, they still earn more and lose less, but they are not without losses.

Now they have another idea, which is to buy fund bonds issued by Taihua Consulting Co., Ltd. just like the East China Mobile Co., Ltd., with a good return and a safe return.

However, some people object that the bond of Taihua consulting has a yield range, which is to ensure that you have the lowest yield, but the highest is so much. Even if the project makes more money, it will not be distributed to you.

This gives people a sense of loss, which makes many people very unhappy. They have concerns about trusteeship directly to Taihua consulting. One is that they feel uneasy. The other is that the commission rate of Taihua consulting is too high. The registered place of Taihua consulting is Xiangjiang, and the Commission Consultation system is adopted.

In other words, they are not subject to the mainland's Commission limit, and can be set very high or very low. In China, they are all within a certain range, which cannot be exceeded or below.

Feng Yu had long known that there would be such restrictions in the mainland, so he had already made preparations. Anyway, Xiangjiang is also Chinese, who can say what can't be done?

Several ways to deal with non-performing assets have both advantages and disadvantages. How to choose the right way for their own development.

Feng Yu told Ralph that in fact, they couldn't buy out these non-performing assets at once. There was no money in Taihua holdings. The funds were all transferred to the financial market by Feng Yu. Although many of the money was on the account, they couldn't move.

So they decided to take another approach, that is, securitization of non-performing assets. What do you mean? These non-performing assets are packaged and sold by issuing securities. Then with this money, we can buy out the bad assets.

Or there is another way, such as Morgan Stanley and other big banks, which are also experts in dealing with these non-performing assets. They can directly package and sell these non-performing assets to them.

The securitization of non-performing assets is still in a groping state in China. It is only a trial in some pilot areas. If it is operated domestically, it is very troublesome. Fortunately, it will be handled abroad.Palangi's team quickly calculated the funds they should pay. He went to report with the group company and discussed the payment.

Mr. Xu said in a mysterious whisper: "Mr. Feng, we are going to buy these bad assets."

Feng Yu was surprised to see President Xu. The securitization of non-performing assets in China is still in its infancy. What are they going to do?

It is possible to make money when the non-performing assets are disposed of, but if they are not dealt with properly, they will not only raise money, but also form a huge burden.

Mr. Xu saw Feng Yu's puzzled expression and explained: "Mr. Feng, when you continued to invest in Bingcheng machinery manufacturing group, you had an agreement with the above. If necessary, you can accept the increase of the equity of Bingcheng Zhengfu in a certain proportion, right?"

Feng Yu raised his eyebrows: "are you going to convert debt into equity?"

Debt to equity is to convert debt into shares. This method was tried as early as the end of the 1980s. It was very popular in the restructuring of state-owned enterprises in 1998.

At the beginning, Feng Yu diluted the equity of Bingcheng Zhengfu, including the equity of Fu Guangzheng. Later, according to the contract, Fu Guangzheng increased his investment and pulled the equity ratio back to 16%.

Although Bingcheng government axe also increased some investment and pulled back the equity ratio, it was far less than the original. Now, it's not as good as paying Guangzheng's equity ratio.

Ice city government axe can't take out the money, but it can. After a simple operation, restore the equity ratio in the name of ice city government axe, and then pay off the debt to some state-owned assets.

"Mr. Feng, Mr. Zhang said that you agreed to this at the beginning." Said Xu weakly.

Well, this little money, do I need to repent? In any case, Taihua holding group is still the controlling party.

"No problem. You can talk to Zong Qingxian later."

…… (to be continued. )