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night.

A private restaurant.

Sitting in the private room, Chen Hong and Lin Fan were drinking while chatting about interesting things in the investment industry.

Chen Hong suddenly said: "Brother Lin, Jiang Nanchun has found Tan Zhi. Judging from this situation, Focus Media may want to acquire Frame Media to increase their market share in Elevator Graphic Media and to increase their market value."

Lin Fan smiled and said, "This is a good thing, it means that our plan has been successful."

Chen Hong nodded, "Yes, Jiangnan Spring Army won 90% of the elevator graphic media market in major cities across the country without bloodshed, and Frame Media also avoided a fierce battle with Focus Media.

They are now listed companies and have opened up the secondary market financing channel, so we can't burn them.

Selling the company to Focus Media should be the best choice.

Unfortunately, it’s still too late to go public independently.”

"What a pity? Framework Media will only take half a year to acquire nine companies in the integration industry!"

Lin Fan smiled and said, "I have to thank you Brother Chen for your helping me make money!"

Chen Hong waved his hand and said in a very generous manner: "What are you talking about to bring you money? Everyone will just share the risks. If you have good projects in the future, just think about your brother."

"It must be certain!"

Chen Hong glanced at Lin Fan with deep meaning and asked with a smile: "Don't you ask about the price? That's right, you probably don't like these three melons and two dates."

"Oh, by the way, I forgot if you don't say it. How is the price negotiation? Focus Media is a big dog, so don't be ruthless when slaughtering it."

Chen Hong smiled, "$39.6 million in cash, plus $55.4 million in Focus Media common stock, and the possible future payment of up to $88 million in Focus Media common stock.

The $88 million part involves the framework's performance bet for 2006.

If the performance bet can be successfully completed, the total transaction price is US$183 million.

What do you think of this price?

Gongquan has left IDG now. Zhou Quan, who took over this project, thinks it's okay. Now it depends on the opinions of you, the major shareholder."

Lin Fan waved his hand and said, "Just make a decision, I have no objection."

While speaking, Lin Fan calculated silently in his mind that he invested in Framework Media in February and acquired 40% of the shares.

The transaction consideration of US$183 million is nearly 1.5 billion yuan based on the current exchange rate of 8.0998.

His return was nearly 600 million, and it increased by 12 times in half a year, and it was OK.

Since most of the trading portfolios are used to issue new shares, if Focus Media's stock price rises a little in the future, the actual return rate will be higher.

On the contrary, if the stock price falls, the rate of return will decrease.

However, with 39.6 million US dollars in cash as a base, Lin Capital only split 40% of the cash back, and Lin Capital made a return of 50 million yuan in investment.

If you regret this, Chen Hong and IDG will be the ones who regret it.

At that time, La Linfan invested in the shares and served as the largest shareholder. He wanted to jointly resist risks, and even when the framework media could not sell it, he hoped that Lin's capital would be given a blood transfusion, gathering people to continue fighting with Focus Media.

As a result, the merger and acquisition went even smoother than expected, and there was no need to fight to the end.

In this case, Hanergy Investment, as an organization and trader, will suffer a little.

However, due to Lin Fan's investment of 50 million yuan, Framework Media bought out all of them in cash when acquiring several peers, and did not dilute the company's shares. This place also preserved the rights and interests of Hanergy Investment in disguise.

Of course, after careful consideration, Hanergy Investment is still at a disadvantage, mainly because it did not expect the capital operation to be so smooth.

Things in the world are impermanent!

However, Chen Hong is an open-minded person and doesn't want to ask Lin Fan for any favors.

After all, no matter whether you make a choice, you cannot blame others for your own fault.

However, this kind of thing, even if Chen Hong said, Lin Fan himself could understand it.

After finally getting together a capital operation, most of them were earned away by others.

So Lin Fan picked up the cup, fucked Chen Hong three times, and said a lot of flattering words.

"Brother Lin, it's boring to say this. Why don't you look down on your brother?"

Chen Hong looked unhappy and looked unhappy.

Lin Fan had no way to distinguish the authenticity, so he had to stop mentioning this.

"The new stocks issued by Focus Media have a lock-in period and there are performance bets, so it may not reach the ideal price of US$183 million in the end, so you must be mentally prepared."

Chen Hong had a few glasses of wine and his face was very rosy. At this moment, he smiled and gave Lin Fan a vaccination.

He was afraid that this little brother would be lost, so it would be better to explain things clearly.

Lin Fan's heart moved and said with a smile: "I am very confident in Brother Tan Zhi and think he can lead the company to complete the bet.

In addition, I am also optimistic about Focus Media's stock price.

Otherwise, you ask Zhou Quan to see if they are willing to take all the cash. We can get the common shares issued by Focus Media.”

Chen Hong pointed to Lin Fan and said angrily: "I'm making a small plan again, but I guess IDG is full of talents and it's not easy to do it.

Focus Media’s upward momentum is now very obvious, and it is losing ground and has not yet been listed.

Your plan may be in vain."

Lin Fan thought about it, there is no shortage of smart people in venture capital institutions. As a veteran institution, many partners of IDG have changed jobs from investment banks and PE funds, and their experience is more and more abundant, and they can't hide the sharp eyes of these people.

Think simple!

"Okay, I'm going to bet?"

Lin Fan shrugged and said with regret.

"Are you gambling? You've seen the cards almost all, Ming cards."

Chen Hong shook his head and laughed. Only at this time can he see the other person's young and immature side.

"Since you have no objection, then I'll call Tan Zhi to agree to Jiang Nanchun?"

Chen Hong looked at Lin Fan and emphasized again.

Lin Fan waved his hand, "Agree!"

"Okay, at present, the framework agreement has been reached. I guess there are still many details to be negotiated. When we sign and the listed company issues an announcement, it may be until next month."

Lin Fan nodded and said "Yes" to express his understanding.

"Lin's Capital borrowed $1.5 billion from a syndicate led by Morgan Stanley? Are you planning to invest all of them in the Chinese market?"

Chen Hong had been holding this in his heart for a long time. In the afternoon, he was in Starbucks and had a lot of people talking, so he mentioned it without asking much questions.

Now there are only two of them in the private room, and he can no longer hold it back.

Lin Fanxiao glanced at Chen Hong, and the latter laughed awkwardly, "Hehe, just ask, if it's not convenient to say it."

"There is nothing inconvenient to say!"

Lin Fan smiled calmly, "This money, um..."

You said it!

Lin Fan "well" for a long time, but didn't say anything, and he was so anxious that Chen Hong, who was very interested.

If Lin Fan really invested this money in China's venture capital market, Hanergy investment must be taken to continue.

What leaked out of their fingers was enough for them to eat for several years.

The most important thing is that if Hanergy Investment provides financial advice for such a large transaction, it is an intermediary to match it, and Hanergy Investment's industry status will be established at once.

"I want to make a cell phone!"

Hearing this, Chen Hong was petrified.

"You're not kidding?"

Chen Hong was stunned for several seconds and asked subconsciously.

But his expression soon recovered and said seriously: "This industry is not a low-threshold industry. It's not something you can do by connecting the network cable and building two servers."

Lin Fan nodded, "I know that I have been reading professional books on mobile phones and electronic devices recently, and I have also consulted industry experts. I am still cautious and a learner about this unfamiliar field that I have never entered."

Chen Hong frowned, thought for a moment, and slowly spoke: "I'll analyze it for you. Not to mention the international market, just take our domestic mobile phone market as an example. It is basically the world of foreign manufacturers, Fruit, Nokia, Motorola, and Samsung ranked first, second, third and fourth.

Not only does Lenovo and Bourdue have domestic shipments that are not as good as those of foreign-funded manufacturers, but are also mainly targeting the mid- and low-end markets.

I won't elaborate on the reason, you should also be clear about it. In the final analysis, the technology is too backward and the performance is not as good as others.

Not only mobile phones, but also cars, home appliances, and industries with a certain technological content are like this.

You don’t want to build a low-end mobile phone brand like waveguide or Lenovo?

If that's the case, it's completely unnecessary to spend so much money in.

And if you want to enter the high-end field, the technology involved has gone a long way to funding, and the investment risk is not low."

After saying that, Chen Hong looked at Lin Fan's expression calmly.
To be continued...