Rebirth 76: Industrial Internet Empire

Rennes, France.

In the beautiful Brittany peninsula, there is a small town called Carentois.

The headquarters of Ubisoft Entertainment Software is located here.

It’s hard to imagine that ten years ago, Ubisoft Entertainment Software was just the agent distributor in France for large game companies such as Electronic Arts, Sierra, and LucasArts.

Yang Mo and Lin Xi walked into the reception room under the guidance of the staff.

"Mr. Yang, I have long been honored by my name. I am Claude Guillermotte, President of Ubisoft Entertainment Software..."

"Mr. Claude, to be honest, it was only after I came to France that I learned that there is an excellent game company like Ubisoft Entertainment in Europe, so I took the liberty to visit..." Yang Mo said with a smile.

"The focus of Ubisoft's entertainment business has always been on the European market, and it may not have the same influence as Electronic Arts and Sierra in the North American market..." Claude Guillermotte explained.

"Mr. Claude, are you interested in cooperating with Zhiyuan Group? To become a world-class game company like Nintendo, Electronic Arts, and Havas?" Yang Mo asked straight to the point.

"How to cooperate?" Claude Guillermotte asked with interest.

"Behind these multinational game companies, there is capital. It is difficult for a small company like Ubisoft Entertainment to compete with them. If you can join Zhiyuan, it will be different. Zhiyuan Group can provide you with sufficient funds and a A promotion platform that other game companies cannot match..." Yang Mo said vividly.

"Join Zhiyuan Group? No... no! Ubisoft Entertainment has no such plan. We have ample game development funds and two popular products, Hero Rayman and The Settlers. Why should we sell the company?" Crowe De Guillermotte flatly refused.

"Abundant game development funds can only guarantee your daily operations. Joining Zhiyuan Group is completely different. You can use your checkbook to acquire other game companies, and even poach competitors' technology development teams. You should have heard that However, Zhiyuan Group has never interfered with the operations of its companies, and will only provide you with sufficient funds and platforms to make Ubisoft Entertainment one of the world's top game companies!" Yang Mo continued to draw an attractive picture. cake.

"Mr. Yang, I'm very sorry! Ubisoft Entertainment Software Company is a family business. No matter how favorable the conditions Zhiyuan Group can come up with, it is unlikely to be sold as a whole. Ubisoft Entertainment is willing to give 20% of its shares to introduce Zhiyuan Group's Strategic investment..." Claude Guillermotte said with a sincere face.

"What? Ubisoft Entertainment has a new financing plan?" Yang Mo asked with interest.

"Ubisoft Entertainment plans to set up a subsidiary to develop mobile games..." Crowder explained.

"The Guillermotte family diluted 51% of its equity and raised funds from Zhiyuan Group based on the stock price on the Second Market of the Paris Stock Exchange. The company's technology development and management team remain unchanged, and you are still responsible..." Yang Mo pondered for a moment, New cooperation plans were proposed.

Claude Guillermotte still shook his head and said: "The Guillermotte family can dilute up to 25% of its equity for financing!"

Lin Xi, who had been silent all the time, suddenly interjected: "Mr. Claude, as far as I know, the proportion of non-tradable shares of Ubisoft Entertainment Software is 70%, all of which are in the hands of the Gilmot family, even if it is diluted to 32% With the equity financing, the Gilmot family still has absolute controlling rights!”

Yang Mo also smiled bitterly and said: "Mr. Claude, please understand! The equity ratio is too low, and Zhiyuan Group cannot provide more help to Ubisoft Entertainment Software Company..."

After thinking for a long time, Claude Guillermotte said as if he had made a lot of determination: "The Guillermotte family has diluted 28% of its equity for financing. This is the bottom line we can afford. If it exceeds this ratio, we will not be able to bear it." We have to talk!”

Yang Mo spread his hands and said with a regretful look on his face: "This equity ratio is still too low!"

"Mr. Yang, to be honest, before you came here, Vivendi and Electronic Arts also discussed cooperation with Ubisoft Entertainment. Their equity requirement was 28%. Under the same conditions, of course we are more willing to cooperate with Ubisoft Entertainment." Cooperate with Zhiyuan Group!" Claude Guillermotte explained with sincerity.

Yang Mo was about to refuse, but out of the corner of his eye, he saw Lin Xi nodding to him, and agreed to Claude's financing plan by accident.

Claude Guillermotte happily asked the company's legal affairs to draft a financing agreement...

Although Ubisoft Entertainment Software holds the copyrights to Hero Rayman and The Immigrants, its market value is less than US$8 million. Zhiyuan Group used US$2.1 million to acquire 28% of Ubisoft Entertainment's equity!

"Why did you nod just now to indicate that I agreed to the conditions proposed by Claude?" Yang Mo couldn't wait to ask as soon as he walked out of the door of Ubisoft Entertainment Software Company.

"We are not involved in the game business just for this profit, right?" Lin Xi asked with a smile.

"Of course! Otherwise I wouldn't have traveled all the way to France. The game business plays an irreplaceable role in building a closed-loop industrial chain for us, especially the copyrights of some popular game software around the world, which are very important to us!" Yang Mo explained.

"So! We don't necessarily need to get all the shares of Ubisoft Entertainment, as long as we can control it!" Lin Xi said.

"Have you thought of a way to control Ubisoft Entertainment?" Yang Mo asked with interest.

"The French, British, Hong Kong, and Singapore stock exchanges are among the few securities trading institutions in the world that have mandatory tender offer regulations!" Lin Xi said with a smile.

"If I remember correctly, the trigger line for Xiangjiang's mandatory tender offer regulations is when the major shareholders hold 50% or more of the shares, right?" Yang Mo asked puzzledly.

Lin Xi nodded and said, "Yes! But in France, when a single investor's holding reaches 30%, it must launch a mandatory tender offer for the company. This is why Claude Guillermotte is only willing to dilute 28% of the shares. !”

Yang Mo suddenly realized: "If the shareholding reaches 30%, it will automatically trigger the mandatory tender offer regulations? No wonder that after Vivendi obtained 30% of Havas's shares, it fully acquired all the shares of Havas within one year!"

A sly smile appeared in Lin Xi's eyes and continued: "Yes! It was also inspired by Claude's insistence that he would only dilute 28% of his shares that I realized that Vivendi was not actually trying to get into the media publishing and gaming business. , who did not hesitate to acquire all the shares of Havas twice within a year..."

"You mean Mari Messio is bluffing. Public utility businesses such as water and electricity have always been asset-heavy operations. They had to acquire all the shares of Havas due to the mandatory tender offer regulations..." Yang Moruo said. Said thoughtfully.