God of Corporate Hunting - Chapter 183



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◈ Episode 183 Silicon Valley Capital (4)

“Yes, Mr. Curtis, this is Yoon Se-bin.”

The caller was co-CEO Rick Curtis, who is effectively the top decision-maker at Capital.

[Representative Yoon, what’s going on?]

“How is it going? It’s going according to plan. But it’s a struggle because $2.5 billion is not a small amount of money.”

[Oh! Did you get a call from the FDIC?]

“yes.”

I heard Curtis sigh.

[The FDIC is also interested in this deal. We are also under pressure from all sides. So we are concerned… … .]

He immediately noticed Curtis’s worries. He seemed to think that with the financial system becoming increasingly unstable, he might withdraw his purchases.

Since the crisis spread from Silicon Valley Bank to Credit Suisse and First Republic Bank, it is actually suicidal to buy a financial company in these times.

[Do you have permission from Themesek?]

“In progress.”

It looks like the Temasek story has reached that point.

[Authorities believe that Temasek’s investment in financial institutions will help ensure financial stability.]

“I guess so.”

[So, what I mean is… … if Temasek funds come in, it is possible to adjust it downward from $2.5 billion to $2 billion.]

I noticed the FDIC’s high-risk liability.

There’s no reason to turn down a $500 million cut.

“thank you.”

[So I really hope the contract is signed tomorrow. If it doesn’t, it’s all over. Phew.]

Curtis let out a long sigh.

Yoon Se-bin was embarrassed because he could feel the despair even here.

“Okay, I’ll see you tomorrow. The venture investment approval we asked for before is being kept, right? That’s the most important condition.”

Yun Se-bin recalled Nam Woon-myung’s request and asked again.

The other party replied that there was no problem.

* * *

Yoon Se-bin explained the contents of the phone call.

There was nothing particularly unusual, but I did get some information and benefit.

The problem is that the authorities are more concerned about this deal than the parties involved, and that an additional $500 million could be saved by just involving Temasek.

Yoon Se-bin expressed his concerns.

“Is it possible?”

“Li Sang-yeon won’t refuse. The problem is Korea Bank. Will that work?”

“I asked my grandfather. I don’t think he can refuse that request.”

“I have to get it on time.”

“i know.”

The two people’s gazes turned far to the north.

Shin Cheol-ho also has to succeed… … .

“If I had known this would happen, I would have made some health supplements for him while I was in Korea.”

Yun Se-bin smiled bitterly at Nam Woon-myung’s muttering.

It’s fortunate that $2.5 billion has been reduced to $2 billion.

If even one fails, we have to burn through all the remaining funds from the branches and the head office. But that doesn’t mean there isn’t a lot of money to play with.

None of the issues are resolved coolly.

Yoon Se-bin expressed his regret.

“I guess I was trying to take over for no reason. I thought it was a good opportunity…….”

“It was a good opportunity. It’s just that the Korea Bank I trusted didn’t provide the funds.”

Nam Yun-myeong comforted her.

It’s darkest before the dawn, and happiness comes after hardship.

“How is the stock market today?”

“I’m not very happy. The decline in the stock price of First Republic Bank, which was designated as the second bankruptcy, has slowed down… but everyone is just watching.”

Surely you’re not waiting for Silicon Valley Capital to sell?

Somehow I feel like I’ve become a major player in the American financial world.

* * *

I have some news.

The Swiss National Bank, Switzerland’s central bank, has provided liquidity support by lending 50 billion Swiss francs (70 trillion won) to Credit Suisse, which is in a liquidity crisis, to prevent a credit collapse.

But the grim news was that it failed to stop the falling stock price.

There was also news that actress Sharon Stone lost half of her fortune due to the bankruptcy of a Silicon Valley bank.

Shares of First Republic Bank fell a whopping 60% from their previous level, threatening $30. Another bank, Pac West Bancorp, fell 20%, and Western Alliance Bancorp fell 47%. The entire regional banking sector was hit hard.

There were no hopeful signs anywhere.

When the day came to finalize the acquisition of Silicon Valley Capital, Nam Un-myeong and his party entered the Capital headquarters office.

The moment I entered the office, I could feel the tension building, as if I knew the seriousness of this deal.

The three co-CEOs of Capital were joined by Silicon Valley finance executives who had met on the first day.

“The contract has been prepared.”

Curtis handed me the contract, adding a friendly explanation.

The content was the same, but the amount was blank. If Temasek is included, the amount goes down by $500 million.

After quickly checking, Yun Se-bin handed the documents over to Nam Woon-myung.

Nam Woon-myung, who had only skimmed through the important parts, handed it over to the accompanying Korea Bank official.

“What happened to Temasek?”

Everyone held their breath at Curtis’ question.

Yoon Se-bin answered with a smile.

“Temasek has decided to invest 25% of the shares.”

That’s 500 million dollars.

This morning, Nam Yunming obtained permission from Li Shangyan. Of course, the guarantee of the Bank of Korea was attached before that.

The guarantee was provided by Yoon Do-cheon. Yoon I-baek was not pleased with it, but Yoon Do-cheon pushed ahead with it.

In other words, it is not a guarantee by Korea Bank, but by the holding company, Korea Investment & Securities.

Temasek didn’t care either way.

Thanks to this, Temasek received $500 million.

“Then the total sales price is 2 billion dollars.”

Curtis breathed a sigh of relief.

For them, the Temasek involvement was far more important than the $500 million issue.

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“So the sales price will be deposited today?”

“Yes, that’s right.”

Fortunately, Shin Cheol-ho also succeeded.

Tesla sent $2 billion in investment funds for lithium mines. I don’t know how they got it, but it must have all been the result of Shin Chul-ho’s efforts.

Long live Shin Cheol-ho!

As a result, we raised $2.5 billion. Of course, we had to cut $500 million, so we only needed $2 billion.

Yoon Se-bin signed the last of the documents.

Next, a middle-aged man with graying hair, a Silicon Valley finance executive, signed.

The contract was signed and $2 billion was deposited into the New York branch of Korea Asset Management.

With this, Silicon Valley Capital split off from the Silicon Valley Finance Group.

“I think the government will welcome this deal today. It’s all done as they wanted. We’ll use the $2 billion we’ve deposited to normalize Silicon Valley Bank.”

The gray-haired middle-aged man expressed his gratitude repeatedly.

After the Silicon Valley Finance Group employees left, Nam Woon-myeong and his group met again with the three co-CEOs of Capital.

They heard Curtis explain how complicated things had become over the past three days.

The American financial world was in turmoil and the psychological pressure they were under was enormous.

Fortunately, the FDIC did not investigate Capital.

During the chat, Tony Heller brought in a bundle of documents.

“These are the investment approval documents that have been pending. Now that the company is back to normal, I would like you to take care of this work first.”

“How many in total?”

“Seven.”

The number was larger than expected.

Nam Woon-myung answered while carefully observing Heller’s complexion.

“I will review it today. Shall we execute it tomorrow?”

“that is…….”

Heller’s face suddenly had a look of contempt on it, as if to say, “What would you know if you just looked into it?”

Nam Yun-myeong ignored him and pushed the documents aside.

“I’m too busy today, so let’s do it tomorrow. Right now, we need to discuss the succession of employment.”

When the topic of hiring came up, the three men became visibly nervous.

“It’s just going to be like that…….”

“I know. Investments in Silicon Valley have their own know-how, so you can do it as you are doing now.”

The three representatives’ complexions brightened.

Nam Yun-myeong continued speaking with a smile.

“But that’s when everyone works hard. Except for those who are doing harm to the company.”

“What does that mean…….”

Curtis asked, looking somewhat uncomfortable.

Nam Woon-myung took out the USB and connected it to his laptop.

“According to what I have obtained…….”

As he clicked on the icon, a familiar voice came out of the speaker.

[I’m sorry for the delay in approval due to unforeseen circumstances. The owner of our capital has changed. Please wait a little longer, as things will stabilize soon.]

[Do you know how much money I gave you? You must do it. Soon.]

Everyone’s eyes turned to Heller, and his face turned pale.

After pressing pause, Nam Woon-myung asked.

“Do you know whose voice it is? Should we keep listening?”

At that moment, Heller screamed.

“You! What are you doing?”

“This? This is evidence that you have been receiving commissions in the name of investment. It is surprisingly quite a lot. How do you explain it?”

Heller became dumbfounded and asked his colleague for help.

Curtis and Stuart closed their eyes quietly, as if they had realized what was coming.

“There is a reason why I temporarily withheld investment approval. If I had invested in a company that would be profitable even after receiving a commission, there would be less of a problem. The problem is that I invested in a company that has no chance of success, a fraudulent company. I know full well that I will not be able to recover it later. What do you think?”

“Mom, it’s a scam. It was recorded because the current situation is special. As you know, there are many ventures that can’t survive without investing urgently in the current financial crisis, right?”

Heller did not back down easily.

“Is that really so?”

Nam Woon-myung put up a new sign on the screen.

“You may be familiar with the names of the ventures listed here. They are ventures that are currently having difficulty recovering investments. As far as I know, most of these ventures were led by Mr. Heller.”

“That, that…….”

Unlike Heller, who opened his mouth wide, Curtis shook his head and put his hand on his forehead.

“The employment will continue, but we cannot afford to leave someone who is harming the company alone. Should we ask the audit office of the parent company, Silicon Valley Finance Group, to audit the company? Or should we step down quietly?”

It was no different from asking me to choose between taking my severance pay and quitting or going to jail. It was also asking me whether I should eat what I’ve earned and quit or get investigated and vomit it all out.

Heller, who had been fidgeting, had no choice but to lower his head.

“Well, I’ll stop.”

“You have chosen well. Now that we are on the subject, I would like you to leave immediately.”

Heller was unable to refute Nam Woon-myung’s cold-blooded criticism and left the conference room with his shoulders hunched. He was the first person to pack up and leave.

Nam Woon-myung glared at the two remaining co-representatives.

Curtis bowed his head.

“I will also step down. I knew about Heller’s corruption and turned a blind eye to it.”

When looking at fate, the two remaining co-representatives were forgivable.

“If both of you step down, who will take care of this company? As stated in the contract, we want employment succession.”

“still…….”

“Your future will be decided by us, the new owners. For now, I hope that the two of you will work together to carry out your work. However, since there is a vacancy in the representative position, I will take over that work for the time being.”

“yes?”

Not only the two co-chairmen, but others were also surprised.

“If you send me the final approval documents, I will just decide whether to accept or reject them. Is that a problem?”

“doesn’t exist.”

The faces of Curtis and Stewart, who had been forced to stay in their seats, brightened.

In fact, Nam Woon-myeong does not have the ability to evaluate the investment suitability of a venture. However, with his eyes, he can see whether the company will fail or not.

Even if we could just filter out the companies that are going to fail in the future, this capital’s profitability would greatly improve.

“Isn’t that too much? If you work like that, you won’t have enough time to sleep.”

Yoon Se-bin was worried.

“If things get tough, you two will help me, right?”

Yoon Se-bin and Sun Yoon-ah sighed.

He holds a sword that will shake up the American venture market.

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