Rebirth of England.

In addition, British Auto Group will form a joint venture with Tianhe Capital to establish Tianhe Ying Auto Sales and Service Company, in which both parties will each hold 50% of the shares.

TRW Automotive will obtain the distribution rights in China for Bentley, Aston Martin, Jaguar and Land Rover, which are affiliated to British Automotive Group. TRW Automotive will invest in acquiring the previous dealers of these brands in China, and will also invest in more dealers in China in the future. A new TRW Automobile 4S store will be built in the city to expand the sales scope of these car brands in China.

At the same time, TRW Automotive will also be responsible for the promotion and marketing of the above-mentioned brands in China.

Currently, Tianhe Capital is still negotiating with Jiangsu Province on the acquisition of Nanjing Automobile. It is naturally inconvenient for Barron to come forward on this matter, because Tianhe Capital is a Chinese company...

However, through this cooperation between Tianhe Capital and British Automobile Group, it can also show that Tianhe Capital has an unusual relationship with British Automobile Group and can provide some assistance for its acquisition.

In addition to these, the agreement signed this time also includes that O2 Telecom will cooperate with mobile companies in its global business to provide mobile communication services for its Chinese users' overseas communications and overseas people in China.

SEM Group will also reach a series of cooperation with CCTV, Dragon TV and other TV stations on program introduction and copyright purchase.

Finally, Argos Holdings will complete the acquisition of the remaining shares held by the Su Zengfu family, the founder of Supor Company, and will privatize and delist Supor Company, and invest in a new production factory in China. In addition to continuing to use Supor's products in China, In addition to the trademark logo, in the European market, small kitchen appliances sold through the Argos retail group will be sold under the Argos brand.

Next, Barron arrived in India with Brown.

Compared with when he was in China, Barron kept a very low profile in India. He only attended some reception parties and did not conduct too many business negotiations.

Except for United Energy Group's partial cooperation with Indian-related companies on the export of oil and gas products, he does not have much interest in other investments in India.

After all, everyone knows about India’s business environment.

Even many companies in the United States have suffered here, and investments in India have eventually become Indian assets...

Barron doesn't think his luck is that good.

His attitude towards India is that cooperation can be done in finance, and India's stock market performance has been pretty good for a period of time; business can also be done, but the other party needs to pay first and then deliver the goods; as for industrial investment, forget it.

……

When Barron left the United States, Avago had already submitted listing applications to the SEC and Nasdaq, officially beginning the IPO listing process.

At present, it seems that this process is relatively smooth. When Barron's went directly from India to the United States, Avago had already started a pre-IPO road show.

In this IPO, Avago will publicly issue 3750 million public shares, all of which are newly issued shares, accounting for 15% of the headquarters capital after listing.

According to the agreement between Barron and Chen Fuyang at the time, if Avago Group could successfully IPO, Chen Fuyang could receive a reward of 425 million shares, which accounted for 2% of Avago's pre-IPO shares.

And in the future, on the premise that he can perform his duties qualifiedly, he will also receive an annual share award of 225 million shares.

Therefore, after Avago's listing, the shareholding ratio is Rich23 Capital holding 20825 million shares, accounting for 83.3%; Chen Fuyang holds 425 million shares, accounting for 1.7%.

The issuance price of Avago's shares is tentatively set at US$32.5-34. At present, it seems that investors' enthusiasm for investment is still relatively high. If calculated at US$34 per share, Rich23 Capital originally sold approximately US$20 billion. The market value of Avago acquired at the price will reach US$85 billion, and Rich23 Capital's shareholding will be worth US$70.8 billion, with a return on investment ratio of more than 250%!

Of course, Rich23 Capital originally conducted a wholly-owned acquisition, and did not use leverage, nor did it specifically "downsize" Avago...

It seems that compared with the original time and space, private equity funds KKR and Silver Lake Capital used capital operations until Avago was listed. Their 12 times income after selling out their stocks is nothing compared to it.

"How does it feel, Dick."

In New York, Barron met Chen Fuyang, the president of Rich23 Capital and the president and CEO of Avago. He seemed to be looking good.

"Great, Your Highness, the investors on Wall Street are very enthusiastic. I can feel that the current market sentiment is completely different from five years ago, or even three years ago. When you come to Wall Street, you can clearly smell it. There is a bull market atmosphere everywhere.”

Chen Fuyang shrugged and said to Barron:

"But I don't know if it's my misunderstanding. I also feel a faint sense of crisis. Maybe it's the right choice to list Avago now. I believe the stock price will be very optimistic after the listing."

It has to be said that Chen Fuyang's success in capital operations in his previous life did not seem to be without reason. Just through his words and his keen sense of financial conditions, Barron secretly praised him.

"I also think now is the best time, but not just for Avago, but now also for other companies. Therefore, although it is a good opportunity to go public, it is not a good opportunity to expand. I think we should first strengthen our own business."

The last time the two met, Chen Fuyang talked about his interest in LSI, a memory chip company in San Jose, Silicon Valley.

But as Barron said, the bull market atmosphere currently permeating the market will not only affect Avago, which is about to be listed, but also other companies - the market value of those companies will be regarded as the most optimistic. Estimating mentality.

Therefore, relatively speaking, now is not a good opportunity for acquisitions - it is often when a crisis comes and many companies are in financial crisis that the perfect opportunity for acquisitions comes.

Barron was a little worried that after receiving the funds raised from the listing, Chen Fuyang would be unable to hold back and immediately initiate an acquisition of LSI. There was no telling whether this would be successful. At least the acquisition price would be much higher.

The companies Barron acquired are a little different, because most of them are companies that if he doesn't take the opportunity to acquire them now, he won't have good opportunities later.

But LSI, as Barron's knew, did not have much capital to support it. Therefore, after the subprime mortgage crisis came, it was the other party's financial difficulties that gave it a good opportunity to make an acquisition.

Because the subprime mortgage crisis will have a huge impact on the entire American financial system, many banks will have no time to take care of themselves, let alone extend loans during this period. Then the semiconductor industry, which has a great need for financing, will not have the support of strong capital. , getting into trouble is inevitable.

"I understand, Your Highness the Duke, don't worry."

After hearing Barron's words, Chen Fuyang nodded and said so.