Hong Kong 1980: The Savage Era

Chapter 385 386 [It's a noose around the neck]

Finally, Swire Properties also gave up, and Luo Qihong bought the second section of the Admiralty Barracks land for 11 billion yuan.

Together with the previous section of land in Admiralty, the entire land covers an area of ​​28.2 square feet, and the built-up floor area can reach 400 million square feet.

This kind of building is unique in Central, Hong Kong, not even the Hong Kong Land Development has one.

Once this project is completed, the Luo Qihong family's roots in Hong Kong will be much more solid, and the foundation of a century-old family will be laid.

Soon, the auctioneer brought out the finale item of the auction - the land of the former Central Fire Station.

Although it is said to be a treasure, the starting price is far lower than the previous item, only 4.8 million yuan.

However, the price per square foot of the second section of the Admiralty Barracks was lower than that of the old fire station site, a full $1.7 less, which was the highest price of any item in the entire auction.

Although the price is scary, many people are willing to pay for it.

Cheung Kong Holdings was the first to bid "5 million yuan!"

Chinese Estates Holdings also intervened in this auction item "5 million yuan!"

There were also foreign consortiums bidding, such as a Japanese consortium that bid 5 million yuan.

Luo Xurui of Century City also followed up with "5 million!"

New World Development Company.
There is also Huang Tingfang from Sun Hung Kai Properties, a real estate ally, who offered HK$5 million.

Hang Seng Bank was the most determined to win the bid, and immediately offered a premium of "6 million yuan!"

This made his real estate colleagues look at him sideways, with some surprise on their faces, but they soon calmed down.

These peers did not care about anything and continued bidding.

In the end, Hang Seng Bank won the bid for HK$8.4 million, with a total premium of 7%, setting a new premium record for government land auctions.

In fact, this piece of land is not far from the Furama Hotel and its area is smaller than that of the Furama Hotel. If it were not for the good market conditions, it would not have been sold for 8.4 million yuan.

In Luo Qihong's eyes, this piece of land was obviously bought at an expensive price, but it was worth it for Hang Seng Bank to build its own building.

The news of the auction did not cause much stir and the popularity died down after a few days.

Because the acquisition of Swire Properties is still ongoing and the shareholders' meeting is about to be held.

It was early June.

The shareholders' meeting of the Hong Kong Land Development was held as scheduled. A large number of reporters gathered outside the Mandarin Oriental Hotel, anxiously awaiting the final outcome of the battle between Chia Xin and Jardine Matheson.

Because this determines the ownership of the Hong Kong Land Development, whether it will change hands like the Wharf Group and be controlled by the Chinese.

Both Luo Qihong and Huang Tingfang underestimated the strength of the Keswick family. Qi Xin Company won 41% of the votes, while Jardine Strategy Company won 46% of the votes. The gap is still quite large.

However, Qi Xin Company obtained three board seats in the Landmark Group, which is undoubtedly a consolation prize.

Just like when the charter king first joined the board of directors of the Wharf Group, he was subjected to criticism from the Jardine Matheson Group, which suppressed his prestige in the board of directors.

Luo Qihong didn't think his situation would be better than the former charter king, and might even be worse than that.

Huang Tingfang and his son and Luo Qihong found a secluded place to discuss what to do next.

"Mr. Luo, we have already lost a game. Even if we can enter the board of directors, it will not be a good thing. It may even put us in shackles." Huang Tingfang said solemnly.

"Keep going with the acquisition. As long as our shareholding exceeds 43%, Jardine Matheson Group will definitely lose." Luo Qihong said, "We can lose a few times, but Simon Keswick will be finished if he loses once."

"What Luo Sheng said makes sense." Huang Tingfang hesitated and continued, "But we have invested such a large amount of money. If we delay it for too long, it will have extremely adverse consequences for the development of our company."

"So does Mr. Huang want to make peace or withdraw?" Luo Qihong pointed out directly.

"Let's make peace. I think Simon Keswick will not refuse if we give up the Exchange Square in Central and ask for other assets." Huang Tingfang said. Luo Qihong pondered for a moment. Although there were still four months before the stock market crash, it was still urgent to swallow up the Hong Kong Land. Even if the acquisition was successful, he would be heavily in debt and would not feel good during the stock market crash.

Therefore, letting go of the Jardine Matheson Group at this time seems to be a good choice.

Luo Qihong said, "Okay, but I won't sign an agreement that forbids the acquisition of the Land Company within a certain period of time."

Upon hearing this, Huang Tingfang immediately guessed Luo Qihong's purpose. Luo Qihong would still attack the Jardine Matheson Group in the future.

This request is not a big problem, and Keswick, who is in trouble, should agree to it.

"Okay, I agree with what Luo Sheng said." Huang Tingfang said, "I plan to take the Baibishan villa project, Luo Sheng, how about you take those high-end residential buildings in the Mid-Levels area?"

"Mr. Huang, are you satisfied with just this little thing?" Luo Qihong smiled faintly.

"What does Luo Sheng mean?" Huang Tingfang didn't quite understand what Luo Qihong meant. He just thought that Luo Qihong wanted more.

"I want to take the luxury residential project of Tresgunda Tower in Mid-Levels, the Holland Bank Building in Central, and the Mercantile Bank Building." Luo Qihong said, "And Mr. Huang, you take the villa project of Pak Pik Shan, the Ocean Terminal, and the Star Building."

"I think Simon Keswick will agree, because it will reduce the number of competitors and the company will not be hurt."

"You can give it a try." Huang Tingfang's eyes lit up when he saw so many real estate assets. How could he refuse?

Huang Zhixiang asked, "What about the shares of Hong Kong Land held by Qixin Company? At what price should it be sold to Jardine Strategic?"

"I think it can't be less than 14.5 yuan. In this way, we only need to pay 4% of the cost to acquire these properties, which can be regarded as an explanation to the shareholders of our subsidiary companies." Luo Qihong smiled cunningly.

"No problem, do as Luo Sheng said." Huang Tingfang became more and more excited.

Half a month later, the two sides held negotiations again.

Even though Huang Tingfang and Luo Qihong had reached an agreement, they did not stop acquiring and absorbing stocks, which still posed a strong deterrent effect on the Jardine Matheson Group.

It’s just that Qi Xin Company lowered the acquisition price to 14.5 yuan per share.

"No problem! We agree to your request." Bao Weishi said, "But you two must sign an agreement not to acquire the Hong Kong Land Company again within five years."

Luo Qihong immediately smiled and said, "I will not sign this agreement. If you don't want to, then I will continue to acquire the Hong Kong Land. With Bao Chuanwang as an example, I think it is still possible for me to take over the Hong Kong Land."

"If Mr. Huang is willing to withdraw, I can buy it at 17 yuan per share. What do you think, Mr. Huang?"

If the stock price is 17 yuan per share, Sino Group can make hundreds of millions of profits.

Huang Tingfang was also shocked when he heard this. He couldn't tell whether Luo Qihong's words were true or false, but he knew that Luo Qihong was angry.

"Since Mr. Luo offers such a high price, of course I am willing to accept it." Huang Tingfang said with a smile.

"Mr. Luo, it's just an agreement. Do you want to acquire the land company in the future?" Bao Weishi asked in shock.

"Who knows what will happen in the future." Luo Qihong shrugged. "Mr. Bao Weishi, you should know clearly that my target is the three buildings of the Exchange Square. If you are willing to hand over the Exchange Square to me, I will be happy to sign the agreement."

Bao Weishi looked at Simon Keswick, not knowing what to say for a moment.

"Luo Sheng, you just got a piece of land from an auction and spent 11.7 billion yuan. The subsequent construction costs will also cost several hundred million yuan. It may be unrealistic to continue purchasing it, right?" Ximen asked tentatively.

"Whether it is realistic or not is not up to you, it is up to me." Luo Qihong said with a smile, "Both Federal Real Estate Company and Zhaoan Real Estate can take over. Don't I know how to be flexible? Mr. Simon!"

Ximen was silent for a long time, but finally agreed to Luo Qihong's request.

Solving the current problems, even if there is only a year's reprieve, will be very beneficial to the Jardine Group.

After all, what Luo Qihong said was true, and Luo Qihong did not even take into account the China Gas Company with a market value of more than 1 billion.

Jardine Matheson Group had no room for refusal. The acquisition of Qi Xin Company was like a rope tied around the neck of the Keswick family. If it was not loosened, something might happen.

(End of this chapter)