The Conglomerate Family Became A Villain [EN]: Chapter 111

111. Genius and Sage (2)

Lyra Marine’s proposition was simple.

Similar to Bank of America, she wanted to buy 10% of Victoria Corporation’s shares for $1 billion.

“Are you serious?”

Lyra Marine nodded at Jung Hyun-woo’s question.

“I am serious.”

“Ms. Marine, $1 billion is not a small amount of money.”

At the beginning of this year, Lyra Marine had intended to acquire Victoria Corporation for $1 billion.

‘And that was considered a generous offer.’

But now, she was trying to acquire only 10% of the shares for $1 billion.

The value of Victoria Corporation had increased tenfold in less than a year.

Lyra Marine said in a firm tone.

“I know.”

Jung Hyun-woo looked into her eyes and asked.

“Does Bank of America also acknowledge Victoria Corporation’s value at $10 billion?”

“Including future value, I think it’s worth that much.”

No CEO would dislike having their company highly valued.

Jung Hyun-woo slowly nodded.

“I understand. I will consider selling the shares.”

Lyra Marine raised her eyebrows and said.

“Consider? You’re not giving me a definite answer.”

“That’s because…”

“When you signed the contract with JP Morgan, there was a clause inserted that asked for their intentions, right?”

Jung Hyun-woo sighed lightly.

“Hoo… You know it well.”

“I have experience with share acquisition contracts.”

“To be precise, it’s a right of first refusal.”

Lyra Marine raised her voice at the end of her sentence.

“A right of first refusal?”

“If JP Morgan hears about this negotiation and says they will additionally acquire 10% of the shares for $1 billion, it means I can’t sell the shares to Bank of America.”

Lyra Marine nodded as if she understood.

“So, if JP Morgan says they will buy the shares we want to buy, they have the priority, right?”

“That’s right.”

“You don’t have to worry about that.”

Jung Hyun-woo tilted his head.

“Don’t have to worry? Ms. Marine, aren’t you too confident?”

Lyra Marine replied in a clear voice.

“JP Morgan won’t invest $2 billion in Victoria Corporation.”

“What’s the basis for that?”

“The CEO of JP Morgan Investment Bank has changed.”

Jung Hyun-woo knew that her words were not wrong.

‘Henri Arnault is not aggressive. He wouldn’t invest an additional $1 billion in our company like Neil Hamilton did.’

He sighed deeply.

“Hoo… Then, the deal will be concluded if I make a decision.”

Lyra Marine lowered her eyebrows and asked.

“Charlie doesn’t seem to want to get richer?”

Jung Hyun-woo slowly shook his head.

“Who doesn’t want to get richer? It just feels like I’m cutting off the company’s limbs and handing them over to someone else.”

“Hmm, cutting off the company’s limbs and selling them? Isn’t that something you can say when you’re handing over a subsidiary, not shares?”

Jung Hyun-woo scratched his head.

“To be precise, Ms. Marine is right, but that’s how I feel right now anyway.”

He felt a mix of relief and regret.

‘The situation is unfolding as Sera predicted.’

Sera had previously anticipated Bank of America’s acquisition of shares.

‘If we hand over the shares to Bank of America, our shareholding will drop to 55%.’

Of course, if you combine it with Sera’s shares, there was still a margin of 50%.

* * *

Boston, Jung Hyun-woo’s house.

Sera and Jung Hyun-woo sat side by side in front of the TV for the first time in a while.

“I heard Ms. Marine came by?”

“She did.”

“What did she come for?”

Jung Hyun-woo put popcorn in his mouth and replied.

“She told me to sell the shares.”

“Bank of America is going to acquire the shares?”

“I told you before.”

“That was just a possibility.”

Jung Hyun-woo shrugged his shoulders and said.

“Anyway, now they’re really saying they’ll acquire 10% of the shares for $1 billion.”

Even while talking about the staggering amount of $1 billion, the two remained calm.

“So, what does Charlie think?”

Jung Hyun-woo replied while keeping his eyes on the news.

“We have no choice but to sell.”

“Have no choice but to sell? The nuance sounds negative. Does Charlie not want to sell the shares?”

“If we sell the shares this time, we won’t have any more leeway.”

Sera knew the share structure of Victoria Corporation inside out.

‘If this deal goes through, Charlie’s share will decrease to 55%, and my share will decrease to 23%.’

Combined, they still amounted to 78%. But the IPO [Initial Public Offering] was still ahead.

‘Even if we increase the number of shares issued by only 30% during the IPO…’

The two’s shareholding ratio dropped to 55.6%.

‘It’s a close call, just like Charlie said.’

If the two ever disagreed, the defense of management control would be over.

Sera asked as if throwing a question.

“Should we not sell?”

She was suggesting rejecting Bank of America’s offer.

“That would be difficult.”

“Why?”

“Bank of America will become disgruntled.”

Sera raised her right hand and said.

“Still, we have to draw a line at some point. If we keep selling shares to companies that do business with us, Victoria Corporation will no longer be our company.”

She thought that they couldn’t keep selling the company’s shares.

‘Victoria Corporation wasn’t established to be sold off to others.’

Jung Hyun-woo received Sera’s words without turning his gaze.

“I think this deal will be the last one before the IPO.”

“You won’t do any more share deals after Bank of America?”

“We won’t be able to even if we wanted to.”

Sera nodded at his words.

“I guess so…”

Jung Hyun-woo changed the subject and asked her.

“How was it for Sera?”

“Me?”

“I’m talking about JP Morgan.”

Sera returned to Boston tonight after finishing her meeting with JP Morgan.

“It was as expected.”

Jung Hyun-woo tilted his head.

“If it was as expected, what did JP Morgan say?”

“They said they would decide on the IPO after evaluating our company’s value.”

“John Fear?”

“No, Henri Arnault.”

Jung Hyun-woo sighed deeply.

“Hoo… That’s Arnault for you.”

“Do you know him well?”

“I’ve only talked to him a few times on the phone.”

“Is he such a distinct person that you can tell his tendencies with just a few conversations?”

Jung Hyun-woo turned his gaze and raised his voice at the end of his sentence.

“Isn’t he?”

Sera nodded at his question.

“He was.”

Henri Arnault was an easy person to understand.

‘He was like a knight standing with a large shield.’

He was the opposite of Neil Hamilton.

“Come to think of it, JP Morgan has the right of first refusal, right?”

“They do.”

“You’re saying it too easily?”

Sera thought that JP Morgan might oppose Bank of America’s acquisition of shares.

‘Bank of America is one of JP Morgan’s rivals.’

The two companies had been competing for the leading role in American finance for decades.

“Henri Arnault is in charge of JP Morgan right now.”

Sera raised her eyebrows at Jung Hyun-woo’s answer.

“The man with the shield won’t attack the enemy?”

“$1 billion is still a burdensome amount.”

Sera leaned back on the sofa and said.

“Charlie is right. JP Morgan has already spent $1 billion, so they won’t be able to use the right of first refusal in this deal.”

Unless there was a change, Bank of America would be able to acquire Victoria Corporation’s shares.

“This deal is also beneficial to JP Morgan.”

Sera turned her head and asked.

“Beneficial to JP Morgan too?”

How could acquiring shares of a rival company be beneficial?

“When the deal between Bank of America and Victoria Corporation is announced, Forbes and other economic magazines will make a fuss once again. Victoria Corporation is making headlines again. Where is the end of its value? The valuation of $10 billion was not an overestimation.”

Sera slowly nodded after hearing Jung Hyun-woo’s answer.

“Hmm, if JP Morgan and Bank of America acquire shares of our company, people will have no choice but to see our company in a different light, right?”

“That’s not all. Victoria Corporation will receive a higher score in JP Morgan’s valuation.”

A high score meant a high amount.

‘Does that mean an amount of more than $15 billion could come out?’

If an amount close to $20 billion came out, Victoria Corporation could go public.

‘If that happens, Victoria Corporation can really become the center of Wall Street.’

Sera asked Jung Hyun-woo.

“If an amount that allows for an IPO comes out, will Charlie list Victoria Corporation on the New York Stock Exchange?”

“We have to.”

“Won’t you regret it?”

“It’s not a company I created to do as I please.”

The shareholders who acquired Victoria Corporation’s stock could raise objections to his management or make minor oppositions.

But most of them would become Victoria Corporation’s strongest supporters.

‘They are not just fans, but people who have bet their money on the name Victoria Corporation.’

It meant that they had no choice but to sincerely support Victoria Corporation.

Sera stared intently at Jung Hyun-woo.

Jung Hyun-woo felt her gaze and raised his voice at the end of his sentence.

“You’re going to say something again, aren’t you?”

Sera threw that one word as if she had been waiting.

“Old man.”

Jung Hyun-woo shrugged his shoulders.

“That’s the best compliment.”

The TV news was now moving on to sports news. The first thing that appeared on the screen was the Boston Red Sox.

“It looks like we won’t win this year either.”

Sera sighed deeply after finishing her words.

“Sera.”

“Why?”

“I’m going to go on a business trip to New York.”

Sera tilted her head and asked.

“New York? Are you going to meet Mr. Arnault in person?”

“No.”

“Then?”

“I heard there’s someone coming a long way to see me.”

Sera narrowed her eyes and asked.

“That person… Is it someone I shouldn’t know?”

“It’s not that you shouldn’t, but they’re from our family.”

Sera widened her narrowed eyes.

“Charlie’s family?”

“Roughly a butler, I guess?”

“Are they coming to check what Charlie is doing? But then they should come to Boston.”

Jung Hyun-woo turned his gaze to the TV and said.

“They’re coming for other reasons too.”

Sera still seemed to have some doubts.

“New York and Boston are far away.”

“To Koreans, the two cities feel like they’re right next to each other.”

“Is that so?”

“Yes, that’s how it is.”

Sera sighed deeply inside at his answer.

‘Hoo… He’s hiding something.’

She didn’t ask any further because she thought it might be a family matter.

* * *

September 26th.

Britain and China agreed to the return of Hong Kong in 1997. The agreement included the conditions of ‘one country, two systems’ and ‘Hong Kong people governing Hong Kong.’

Of course, Jung Hyun-woo knew that the conditions would become virtually meaningless 20 years later.

“Hong Kong is returning to China.”

Clunk.

The hair of the man who put down the glass was black.

“Hong Kong was originally Chinese land anyway.”

The man sitting across from Jung Hyun-woo was Hong Won-ik, the chief of staff of the Daewoon Group.

“It’s refreshing to meet Chief Hong in New York.”

“Is this your home ground?”

Jung Hyun-woo raised his shoulders at Chief Hong Won-ik’s remark.

“Boston, where I live, and New York are far enough that you have to fly to get here.”

He clicked his tongue inwardly.

‘Tsk, what I said to Sera has become the truth.’

To Chief Hong Won-ik, New York and Boston were the same place.

“Isn’t it the same eastern part of the United States?”

“That’s true, but…”

Chief Hong Won-ik’s voice was louder than usual.

‘Did New York excite him?’

Jung Hyun-woo didn’t think so.

‘Then, something that happened before meeting me didn’t go smoothly.’

Chief Hong Won-ik didn’t come to New York to meet him, but he was meeting him while on a business trip to New York.

“You’re not coming this holiday either?”

“I don’t think I can.”

“The chairman will be very disappointed.”

“I know that. But I’m busy with work…”

Chief Hong Won-ik lowered his voice and asked.

“Is that work the company that’s been in the news?”

With his skills, the fact that Charlie Jung was Jung Hyun-woo was concealed. But the achievements of Charlie Jung were truly shocking.

“Yes.”

“Is everything in the American news true?”

Jung Hyun-woo retorted at his question.

“Wouldn’t they have no reason to report falsely?”

Chief Hong Won-ik groaned lowly at Jung Hyun-woo’s retort.

“Hmm, so everything is true.”

Combining the stories that came out on TV news, Jung Hyun-woo was already richer than Chairman Jung Woo-sun.

‘If that’s all true, he’s richer than Chairman Shin Byung-chul of the Samjung Group.’

As of 1984, there was no one with Korean nationality who had more assets than Jung Hyun-woo.

“I was just lucky.”

“Are you saying you can achieve such wealth with luck?”

“Because this is America.”

It was still an era when the term ‘American Dream’ was valid.

“Hmm.”

Chief Hong Won-ik sighed again. He still couldn’t believe the current situation.

‘A young man who isn’t even twenty years old is the richest man in Korea?’

Moreover, the boy who had been called a troublemaker of the Daewoon Group until recently was the protagonist.

‘Something unbelievable has happened.’

The biggest reason he volunteered for the American business trip was to hear the facts directly from Jung Hyun-woo.

“What are you planning to do in the future?”

“What do you mean, what am I planning to do?”

“Are you not planning to come to Korea?”

He had expected that he would take root in the United States since he had achieved great success there.

“I’ll have to go back someday.”

“Even though you’ve made enough money to buy the entire Daewoon Group?”

Jung Hyun-woo replied in a calm tone.

“I’ve heard that there are quite a few people who go to work the day after winning the lottery.”

He compared the success of Victoria Corporation to winning the lottery and the Daewoon Group to a workplace.

“You’re saying you won’t give up on the Daewoon Group either.”

“There’s no reason to give up.”

“You…”

Chief Hong Won-ik slowly scanned Jung Hyun-woo from top to bottom.

‘His appearance isn’t much different from when he was in Korea. But the atmosphere is completely different from then.’

Jung Hyun-woo had no sense of incongruity with New York.

“It seems like the work you came here to do didn’t go well?”

“The person who said they would meet didn’t show up.”

He was stood up.

“You’re saying they stood up the Daewoon Group?”

“This side is still a developing country company.”

“So, which company is it?”

“Are you saying you’ll take care of it if you know?”

Jung Hyun-woo nodded his head greatly.

“I’d like to do that if I can.”

Chief Hong Won-ik waved his hand and said.

“It’s okay.”

He didn’t want to benefit from Jung Hyun-woo.

‘This is a problem for the Daewoon Group.’

It was when Jung Hyun-woo was tapping the table with his fingers.

Ding-dong.

A bell connected to the door rang, and a woman in plain clothes entered.

And soon after, Jung Hyun-woo and her eyes met.

“Charlie?”

“Aria?”

The woman in plain clothes who entered the cafe was Aria Walton, the heiress of Walmart.