The Magician’s Memorial - Chapter 58



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Episode 58 Become a master (6)

Daimon continued speaking with a serious face again.

“Taewoo Group holds a 27% stake, so theoretically it could be acquired as long as it holds a larger stake, but a 40% stake is needed for a stable acquisition.”

“The stake in Taewoo Heavy Industries that I secretly hold is approximately 13%.”

It was a share of Taewoo Heavy Industries swept up in Myeong-dong.

Although a huge amount of money was invested to purchase a 13% stake. This amount was far short of the 40% that Dimon requested.

“Aren’t you going to have a separate black knight?”

“You mean someone who will help us? SAVE Investment Company will proceed alone. “There will be no shortage of funds, so I don’t think there will be a need for a Black Knight.”

“Hmm, the bank holds a considerable amount of shares in Taewoo Heavy Industries. “I’m telling you this because I think it will be a boring game if we can get their help.”

Taewoo Group borrowed a large amount of money from banks.

In many cases, shares were handed over in return, so many banks became shareholders of the Taewo Group.

“Is it difficult without the help of the bank?”

“Not really. “Thanks to the unorthodox shareholding structure, there was a way.”

Dimon circled several affiliates in the battery.

“Several affiliates own shares in Taewoo Heavy Industries. “If we acquire them, Taewoo Heavy Industries’ stock will automatically be transferred to us.”

“This is a way to increase our stake while lowering the stake held by Taewoo Group.”

“With this method, we can acquire Taewoo Heavy Industries with 30% of the shares instead of 40%.”

It was the way I wanted it to be.

Small and medium-sized Taewoo Group affiliates were also targets that had to be liquidated anyway.

“That process should move very quickly.”

“The success rate of mergers and acquisitions is less than 30%. “Most of the reasons for failure are because the opponent is alerted early.”

“What do you plan on doing, Dimon?”

“We will simultaneously acquire three small and medium-sized affiliates with shares in Taewoo Heavy Industries and attempt to purchase stocks in the open market. If that happens, if you add the 13% stake held by the CEO, you will be able to own over 30% of the shares.”

It was a simple yet complex plan.

If the plan ran out of steam in the middle, it could have come to nothing, and if there was a lack of funds, it was a plan that could only result in losses and fail.

But in the latter case, there was no need to worry.

Because it was a SAVE investment company with financial power like an inexhaustible spring.

“We need to make a detailed plan. You can mobilize all of the SAVE investment company’s personnel, so please come up with a perfect plan. ah! And for domestic information, you can contact this person. “I am the person who will take care of everything from escorting Dimon to giving directions.”

I handed Captain Kang’s business card to Daimon.

When you enter into a hostile takeover, enemies will emerge from various places.

Dimon was an important person in my plans, so I had to make every effort to ensure his safety.

“It will be a very fun fight. Now I know what a great place Korea is. “If I had known before, I would have targeted Korean companies a long time ago.”

“I guess I’m glad it’s finally known.”

Wall Street has not yet paid attention to Korea.

Although it is said to be experiencing rapid competitive growth, Korea’s market was very small, so it was able to escape Wall Street’s attention.

In many ways, Korea was a very fortunate situation.

However, that luck ended due to the foreign exchange crisis.

* * *

David is called the face of SAVE Investment Company.

It’s been a while since he came to Korea, and he was meeting someone other than Kim Min-jae.

“Nice to meet you. “Chairman Jang Young-joo.”

He greeted me in broken Korean.

The person in front of him was Chairman Jang Young-joo, who leads Hyunjae Group, the number one company in the Korean business community.

“I’m not good at English, so my son will translate for me.”

“Nice to meet you. “This is Youngjun Jang.”

Next to Chairman Jang Young-joo was his sixth son, Jang Young-jun.

The son that Chairman Jang Young-joo, who only graduated from elementary school, was always proud of was Jang Young-jun.

Youngjun Jang graduated from the best university in Korea and studied business administration in the United States, so he was fluent in English.

“We will discuss greetings separately later, but let’s get straight to the point. “At SAVE Investment Company, we are happy to invest in the current group.”

“How much can you lend me?”

“You can pay any amount you want. However, we only invest for the current group. “We don’t want the money we invested to be used for personal reasons.”

“Are you saying we shouldn’t use it as political funds?”

Chairman Jang Young-joo looked embarrassed.

Since he had already run for president once, he understood David’s concern that the money he had invested might end up as political funds.

“So I’m thinking of investing in a different way. “I heard that the chairman needs money to take over the company.”

“There are many companies I want to acquire, but money has always been an issue.”

“So we will pay the funds once the acquisition agreement is completed. And if funds are moved around for no reason, they are bound to become contaminated. So, we would like to pay the funds to the seller on behalf of the chairman.”

When the contract is completed, the funds are paid to the seller.

From the current group’s perspective, it was not a bad condition.

Even if the money came into the current group, it was ultimately the money that would go out to the seller.

The problem was trust.

If the contract is completed but the seller does not receive the money, the current group will suffer great damage to its credibility.

“I understand that I am not trustworthy, but how can I trust you too?”

“So, I am thinking of leaving some funds in a Korean bank. The size of the fund is approximately 5 trillion won in Korean won.”

“You’re saying they’re going to sign a contract with a Korean bank. But the Korean bank will probably reject it. “Korean banks are too busy paying attention to the government.”

“With CT Bank, there is no need to worry about the government. We can also easily transfer funds using CT Bank. “It’s the same company in the United States.”

Chairman Jang turned his head and looked at his son, Jang Young-jun.

He was asking for advice from his son, who had an extraordinary brain.

“The conditions are not bad at all. Rather, if you can get a loan of 5 trillion won under those conditions, it is a very good condition. “In fact, the conditions are so good that it’s almost suspicious.”

“The conditions themselves are good.”

He stared at his son’s face for a moment.

The borrowing money was all for the benefit of the children.

After his death, there would be a management dispute, and before that happened, he wanted to acquire several healthy companies and pass them on to his children.

“I would agree with the method proposed by SAVE Investment Company. “But I think there are more conditions. Please tell me.”

“I would like to purchase some stocks currently held by the group.”

“Are you planning to jump into the Korean stock market in earnest?”

“To be honest, compared to the United States, the Korean stock market is not very valuable. “The scale is too small to jump into it in earnest.”

“But why do you want to buy Korean stocks?”

“Our SAVE Investment Company holds a variety of stocks in the United States as well as emerging markets. “I just plan to use this opportunity to own some Korean stocks.”

Chairman Jang Young-joo had a hot personality.

Although the amount of stocks of other companies currently held by the group was considerable, it could not compare to the 5 trillion won in borrowings.

“I understand. If you tell me what stocks you want, I will sell them to you. But you won’t hit the price, right?”

“I will purchase the entire amount at the current price. “These are the stocks we want to buy.”

David took out the materials he had prepared in advance.

It contained stocks of various companies, and Taewoo Group’s stocks were also included among them.

“It’s very diverse. “I will give you the shares as soon as the contract is signed.”

“If there is a company you would like to acquire, please contact us. “We can pay you the funds today.”

“A friend I like very much. “I was worried that he was a Wall Street nosy guy, but he turned out to be a very hot person.”

Jang Young-jun, who was in charge of interpreting, spoke in a good tone while sweating.

Thanks to that, David was able to get up from his seat while smiling and greeting Chairman Jang Young-joo.

David leaves the president’s office.

Chairman Jang Young-joo asked several questions to Jang Young-jun.

“Does SAVE Investment Company really have enough funds to keep its promises?”

“As you can see from the report, we have well over $10 billion in funds. This is an investment company that is well-known on Wall Street. “We are famous for having never had a failed investment.”

“Huh, so you’re saying that you invested in our current group because you saw its potential for success.”

“Isn’t this the current group your father created? “Even though we are hated by the Korean government, foreign countries actually recognize us more.”

It was a father and son who seemed to be in a very good mood.

When the funding line that had been blocked by government regulations was opened, Chairman Jang Young-joo smiled brightly as if something had been drained from his heart.

* * *

Captain Kang’s office.

I entered the office through a secret entrance, and David, who had finished negotiating, was waiting for me.

“This place feels like some sort of intelligence agency hideout. The entrance is complicated and there are many security procedures. “I didn’t do this even when I met American politicians.”

“I’m a bit of a complicated person, aren’t I? “Please bear with me even if it’s uncomfortable.”

“For the sake of the boss, I have to endure even more. “If not my boss, who else would I do something fun like this with?”

Daveed smiled and took out a contract.

It was a contract with the seal of Hyunjae Group Chairman Jang Young-joo engraved on it.

“Thank you for your hard work. “It must have been a difficult negotiation, but you did it well.”

“It’s been a while since I’ve been sweating a bit. “I was told that he was the representative of a Korean company, so I took it easy, but the moment I saw him, my mouth dried.”

Chairman Jang Young-joo was by no means an easy person.

David looked really pretty after returning from a successful contract against him.

“You got all the stocks I mentioned, right?”

“I received it without much difficulty. In particular, we received every share of the Taewo Group-related stocks you highlighted.”

This operation was an attempt to kill two birds with one stone.

They lent money to Hyunjae Group and encouraged it to take over Taewoo Heavy Industries.

The plan was to receive even the shares of Taewo Group held by the current group.

“Please take a good rest today and try again tomorrow.”

“There is nothing to say that it is difficult. “Whether it’s drinking with bankers on Wall Street or drinking with bankers in Korea, isn’t it all there?”

“I’ll give you a lot of bonuses this time too, so drink it up.”

“I heard there’s a rumor that Korean bankers are really good at drinking, so I guess I’ll have to compete against them.”

With this, I pulled the trigger.

My grandfather began planning to force the sale of the affiliates he had worked so hard to save.

If this fact reached my grandfather’s ears, it was the beginning of an event that could make it difficult to restore the relationship forever.

Even if that happens, my decision will not change.