Guo Guangchang lost the Confucius Temple, Nanjing private enterprises beat back Shanghai Qianglong
Yadong: Huang que is behind
with capital acquisition. 2. When replacing the indenter or anvil, guoguangchang, the boss of Shanghai Fosun Group, can fix the "Chenghuang Temple", but can't successfully pocket the "Confucius Temple" in Nanjing. In the auction of 30% state-owned shares of Confucius Temple Tourism Industry Development Company (hereinafter referred to as "Confucius Temple") by Nanjing property rights trading center, Fosun withdrew halfway and was bid by Jiangsu Yadong real estate company, a local enterprise in Nanjing, at a price of 14.08 million yuan
since June 2003, there have been endless afterwords about the acquisition of "Confucius Temple" by "Chenghuang Temple", and the dust finally settled at the end of the year
"the delivery has not been completed, and there are still variables, so we must keep a low profile." On the evening of January 6, the person who dialed niezhumei, the president of Yadong, told her assistant Mr. Liu that Yadong had been looking for new growth points. As a local enterprise, Yadong knew more about Confucius Temple, had good communication with its management, and had been tracking the withdrawal process of state-owned assets of "Confucius Temple"
Yadong is a private enterprise in Nanjing, developing many well-known buildings in Nanjing. Nie Zhumei, President, was rated as one of the top ten outstanding figures in Nanjing real estate development in 2001. In 1995, the Nanjing municipal government approved the establishment of Nanjing Yadong New Town Development Zone, which was developed by Yadong company. At present, 420000 square meters of commercial houses have been built in this area, and many universities have been introduced, such as Nanjing Normal University, Nanjing University of Finance and economics, Nanjing University of traditional Chinese medicine, Nanjing University of Posts and telecommunications, with a development area of 9 square kilometers, which has laid the foundation for Xianlin University Town, the largest university town in China
"Fosun raised more than 13 million cards. When we were 500000 higher than Fosun, Fosun stopped raising cards." Liu said, "as for whether to send the chairman of the board of directors to the 'Confucius Temple', we are negotiating with the other party."
but this transaction is full of fog. "Confucius Temple" has total assets of 68.0243 million yuan, liabilities of 38.4411 million yuan, and net assets of 29.5832 million yuan, ranking first among the seven national high-tech industrial bases of new material industry in China. With Fosun's strength, Yadong's more than 14 million yuan is nothing to mention. Why did you withdraw from the bidding halfway? Moreover, Fosun spent half a year acquiring "Confucius Temple" and was determined to get it. Why was it not the expected result
in fact, on December 24, 2003, a local media in Nanjing quoted Mr. Li, vice president of Fosun's business affairs department, as saying that Fosun had prepared more than 20million yuan in cash to bid for the 30% equity. With the priority of negotiation and economic strength, it was confident that the offer would succeed
Nanjing local media, who were originally keen to hype the marriage of "Chenghuang Temple" and "Confucius Temple", were unusually silent about this transaction. It was said that "relevant departments greeted" and "don't report"
tried to get close to the truth of the incident, but the ball was kicked all the way by the "Confucius Temple", the Publicity Department of Qinhuai District, the government office, and Nanjing property rights trading center. Contact Fosun again, and the other party refuses with "the leader is not in"
when Qiang Long meets the local snake, is there any difficulty in Fosun? Will Yadong increase its shareholding in "Confucius Temple" and sincerely expand the tourism industry except real estate? Will the professional instruments for safety performance testing of the management of "Confucius Temple", which holds 46.61% of the shares, repurchase the equity of Yadong and complete the MBO? Is there any conspiracy between the Qinhuai District government, the Confucius Temple, Yadong and Fosun
"Chenghuang Temple" vs "Confucius Temple": dew husband and wife
Confucius Temple Tourism Industry Development Company is the core enterprise of Confucius Temple scenic spot, which governs jinlingchun, Wanqing building, Qinhuai family, Dacheng hall and Confucius Temple amusement park. In June, 2003, at the "re negotiation meeting" in Nanjing, the company, as a major project in Qinhuai District, attracted foreign investment and was listed for transfer, with an offer of 78million yuan
on June 19, Shanghai Fosun Group and Nanjing Confucius Temple Tourism Industry Development Company signed an intentional agreement on overall restructuring and transfer, and said it would enter into substantive operation
Fosun has the experience of successfully operating the "Chenghuang Temple" in Shanghai. In 1987, "Chenghuang Temple" was listed on the Shanghai Stock Exchange under the name of Yu Garden mall, a department store asset. In 1992, it was re integrated and listed with all the assets of Chenghuang Temple, such as catering, department stores, special commodities, handicrafts, etc., and renamed Yu Garden mall. In the second half of 2001, Shanghai Fosun acquired 20% of the 25% state-owned shares of Yu Garden mall. Fosun will re integrate all stores belonging to different departments and different natures in Chenghuang Temple, and unify the business type, management, operation, planning and layout. In 2002, the total commercial sales of Chenghuang Temple was more than 3 billion, with a net profit of 125 million, an increase of 40% year-on-year
however, Fosun's subsequent acquisitions have not been successful, including state-owned asset evaluation, transfer price and competition from bidders. The Qinhuai District Party committee and the district government also decided to temporarily retain 10% of the equity of state-owned assets, continue to retain the original 13.39% of the employee shares, and the remaining 76.61% of the state-owned shares were purchased by the management, 46.61% of which were publicly transferred in the municipal state-owned assets property rights trading center, taking into account the affordability of employees and the needs of social stability
in this regard, Fosun said that the transactions of state-owned property rights of Nanjing enterprises, property rights of administrative institutions and collective property rights of municipal enterprises must be carried out in Nanjing property rights trading center. It also understood the significance of the gradual withdrawal of the "Confucius Temple" equity, so Fosun decided to purchase 30% equity first, and then gradually purchase the remaining state-owned equity according to the requirements of Nanjing municipal government
finally, the "Chenghuang Temple" missed and Yadong took the offer
the new destiny of time-honored brands
the Confucius Temple in Nanjing is much older than the Chenghuang Temple in Shanghai, but its destiny is not necessarily good
the Confucius Temple was first built in the first year of song Jingyou (1034 A.D.), and was expanded from the school palace of the Eastern Jin Dynasty. This group of large-scale ancient buildings experienced vicissitudes and several times of rise and fall. After reconstruction in the eighth year of Tongzhi reign of the Qing Dynasty (AD 1869), they were burned by the Japanese invaders in 1937 and seriously damaged. In 1984, in order to protect the cultural heritage of the ancient capital, Nanjing municipal and district governments allocated special funds for several times after demonstration and planning, which took several years of careful maintenance and reconstruction
the Chenghuang Temple in Shanghai was first built in the Yongle period of the Ming Dynasty (after 1403). After the opening of the port in Shanghai, merchants gathered in and around the Chenghuang Temple, and the market was prosperous. You can buy many necessities of life, especially some small commodities for daily use, at the Chenghuang Temple. Since 1991, the Shanghai municipal government has begun to transform the Chenghuang Temple market into a modern large-scale tourist shopping center with national traditions - Yu Garden mall
it is also Jiangnan
Copyright © 2011 JIN SHI