Chapter 774： Patriotic overseas Chinese

"I understand that Young Master Yang can contact me if you need it. In addition, regarding Glencore's oil storage business, after I communicated with Haihang, they expressed their willingness to acquire it wholly for US$1.6 billion."

Yang Cheng thoughtfully, it seems that the other party already knows what he and William are involved in, and this high price is the compensation given by the other party. Perhaps in the other party’s view, the purchase of a lithography machine requires William’s contacts, after all, Ying The royal family and the Dutch royal family are close relatives.

After figuring this out, Yang Cheng did not puncture it, let alone hypocritical, smiled freely, "Thank you, Ms. Zhang, I will send someone to contact Haihang Group when I return."

Everyone understands that with this single business, Yang Cheng and William conservatively estimated that they could earn a net 200 million U.S. dollars. If William gave a little bit of force and pressured the price to 1.3 billion, the profit could be doubled again.

The business is over, and there is still a little time before the sorority begins. Consul Zhang doesn’t mind talking to Yang Cheng. “Young Master Yang, I don’t know much about business knowledge. It stands to reason that this oil storage business is also Glencore. One of the core businesses of the company, why would it be sold?"

Yang Cheng leaned on the sofa and shrugged his shoulders and answered relaxedly, “Yes, as a global crude oil commodity trading giant, Glencore is not only highly professional in the field of crude oil storage and logistics, but also rich in resources. No matter how you look at it, There is no reason to sell it.

But Glencore suffers from a serious expansion ‘sequelae’. "

Regarding Yang Cheng's terminology, Consul Zhang felt very new. He couldn't help but leaned forward, showing an expression of interest, "How do you say?"

"The most fundamental reason for Glencore's willingness to sell its crude oil assets is to alleviate the financial problems caused by the company's over-expansion in the early stage. To a certain extent, it is also inseparable from State Z.

As a world-renowned commodity trader, Glencore began to improve its energy industry chain layout during the arrival of the commodity bull market after 2000, extending the upstream industry chain through the massive acquisition of resources such as mines and oil fields.

After 2006, the global monetary policy of quantitative easing has been implemented. According to the past policy practice of ZF, Glencore judged that with the increase of ZF's investment in infrastructure and other construction, the future demand for commodities in Z will continue to rise.

In response to this, Glencore has also expanded heavily through borrowing since 2009, acquiring a large number of commodity resources such as crude oil, but after the new leadership of Country Z took up its duties in 2013, it has gradually shifted its focus of economic development to the service industry and consumption. , The reduction of infrastructure investment, and the economic growth rate of country Z also began to decline, which caused major mistakes in Glencore's early strategic expansion.

After this year, the price of commodities plummeted across the board, forcing Glencore to choose to sell its assets and shares in order to improve its balance sheet and maintain corporate reputation. Of course, the most important thing is to maintain stock prices. "

Consul Zhang nodded in agreement, "Then what do you think of Haihang's huge investment in the oil storage business? Do you think it is not worth it?"

Yang Cheng's heart was stunned. It seems that the reason behind the promotion of Haihang's overseas acquisition is not so simple.

I blinked my eyes and came up with a comment, "Actually, from the perspective of Haihang itself, its strategy of seeking development through mergers and acquisitions has indeed contributed to the growth of the company and has achieved good economic benefits. More importantly, Under the background of the fluctuation of the RMB exchange rate, increasing diversified asset allocation is an important strategy for many companies. From the perspective of the timing of the company's dollar asset allocation, it is also a good time point.

At the same time, with the slow recovery of the economy of country Z, its demand for petrochemical energy consumption will continue to increase, and as a major consumer of crude oil, Haihang has stepped up its petrochemical energy industry layout.

Although the world has been actively promoting the development of new energy and clean energy in recent years, the comprehensive production capacity, cost and supply stability and other factors will continue to occupy an important role in the global energy supply for a long time in the future. After Haihang acquires Glencore's oil storage and logistics business, the cost will inevitably be compressed, and its performance will also achieve good development with the recovery of the global crude oil market. After all, OPEC will not allow oil prices to continue to fall.

Of course, after the acquisition of the oil storage business, the follow-up operation is the key. Warehousing and logistics assets are similar to commercial real estate. The initial M&A costs are high, but the subsequent management and operation costs are not large.

After Haihang completed the acquisition of Glencore, how to achieve the integration of talents, management and other aspects of the team and efficient management is an important issue that Haihang needs to face. After all, history has repeatedly shown that the acquisitions of companies in Z The main reason for the problem is the cultural conflict between the parent company and the employees of the subsidiary company. If this problem is not resolved, I am afraid that it will eventually be defeated by Maicheng.

More importantly, while Haihang aggressively promotes its overseas M&A strategy, how to ensure the stability of funds? As far as I know, although HNA has a strong financing capacity, it is difficult not to doubt its liquidity in continuous mergers and acquisitions over the years. At the same time, although the market is optimistic about the future development of the crude oil industry, under the current economic situation~www.novelhall .com~If the crude oil industry chain fails to achieve a substantial recovery, it will also put greater pressure on the company's cash flow and other aspects.

Based on the above factors, I praise the purpose of Haihang’s acquisition, but take a wait-and-see attitude towards its subsequent operations. Of course, from the perspective of the descendants of Yanhuang and Huang, I personally hope that Haihang and Glencore will cooperate this time. , Can achieve a win-win effect, which also provides valuable experience for other Z enterprises to go overseas in the future. "

Consul Zhang and Minister Wu immediately applauded applause, "To be honest, Young Master, no, you are too far off to call you so, please allow me to use a more friendly name, Xiao Yang, your opinion is completely different. For those economics professors in China, if you were not speaking standard Mandarin, I even thought that you had received the most complete and systematic national Z-style elite education since childhood. However, reality tells me that as long as we Chinese are united, regardless of previous experience or What kind of education we receive will eventually make our motherland prosperous and powerful!"

Yang Cheng smiled and accepted the compliment of the other party happily, "Some humble opinions are nothing but insightful, let alone comparable to professional professors. As you said, the reason why we overseas Chinese can travel in the Western world, It is because there is a strong motherland as the backing. No matter how miserable we are, our motherland will not hesitate to tolerate it. For this, I will do what I can do for the motherland. It is my duty!"

"Okay, Xiao Yang, I will report to the senior leaders verbatim today on these words. I hope that in the future, I can have more levels of exchanges and cooperation with you and the Yang family. I will rely on you for the lithography machine. "

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