Chapter 127
Chapter 127
127.
Silent Urban Warfare (2)
After the bidding, the boxes were collected by Zhi Wipan and his staff.
Meanwhile, the people in the conference room became noisy again, like students comparing answers after an exam.
About eight companies participated in the Baeseong Corporation bidding. Even for affiliates, the acquisition price was substantial, so only those who could afford it came.
Shortly after, Zhi Wipan, having confirmed the bid prices, returned to the conference room. In his hand, he held an envelope that seemed to contain the final result.
"I will announce the results."
Everyone looked confident.
Zhi Wipan took out the paper from the envelope.
"First, Baesung Supermarket… Woosang Distribution, with a bid of 1.31 billion Hong Kong dollars."
Approximately 220 billion Korean won.
Woosang Distribution is one of the top three supermarket chains in South Korea. There were rumors that they had aggressively raised funds to become the number one in the country through this acquisition.
Of course, from Woosang Distribution's perspective, Baesung Supermarket was practically being sold at a bargain price, making it a worthwhile challenge. Moreover, Baesung Supermarket had a higher proportion of franchise stores than directly managed stores, resulting in a lower acquisition price compared to other affiliates.
The people from Woosang Distribution quietly clenched their fists and rejoiced.
"Next is Baeseong Cement. It has been decided to go to Cheongsan Cement, with a bid of 2.025 billion Hong Kong dollars."
Cheongsan Cement was in a similar position to Woosang Distribution.
As the bids for the two affiliates were announced, the expressions of joy and disappointment on people's faces became evident.
"Finally, I will announce Baesung Distribution. The bid price is…"
This was the highlight and peak of the bidding. An opportunity to seize control of South Korea's massive distribution network at once. A chance to instantly claim the throne of distribution.
Of course, MH Group was emerging as a new powerhouse with the introduction of a new distribution system, but that was only possible because Baeseong Corporation had collapsed.
Even if it was outdated, a company with an existing foundation would be at least on par, if not superior, if it acquired that distribution network.
As a result, while those who participated in the bidding swallowed nervously, Zhi Wipan continued.
"…5.954 billion Hong Kong dollars… MH Future Security has been selected."
The people in the conference room were shocked. After calculating the amount, it was approximately 1 trillion Korean won. MH Future Security had bid that amount and won the bid.
At the same time, Myung Sung-chul jumped up from his seat.
"That's impossible—!"
Unable to accept it, Myung Sung-chul strode towards Zhi Wipan, trying to snatch the documents.
However, Zhi Wipan stepped back, and the security staff around him blocked his path.
"You can't do this here."
"Isn't this rigged?! MH Future Security? 1 trillion? Do you think that makes sense?"
MH Retail had also been observing MH Future Security's cash flow. And they had concluded that the maximum amount of funds they could mobilize was about 750 billion won.
But 1 trillion won…
Myung Sung-chul concluded that DAX had planned this with MH Future Security.
"As you know, this bidding was conducted as a limited competition. To that end, we have verified the financial status to ensure that the bid price can be paid."
"But…"
"The bidding is over. If you have any objections, please go through the Hong Kong court, not me."
"Kuh—!"
It was possible to raise the issue of the bidding through a civil lawsuit.
However, that would disappear like a bubble if MH Future Security paid the 1 trillion won without any problems.
With a deeply contorted face, Myung Sung-chul glared at Shinwoo and approached him.
"Where did you get that kind of money?"
"My company receives investments. So, wouldn't I have raised the money through investment?"
It wasn't wrong, so Myung Sung-chul could only stare intently.
A week was given to complete the acquisition contract. It is usually difficult for companies to hold all the funds.
Generally, funds are raised through loans or investments. However, the use of funds must be verified, so it could only be received additionally after the acquisition contract was definitely completed.
The transfer side was aware of this, so they deliberately gave a period.
Myung Sung-chul judged that Shinwoo would not have that much money right away. So, he was planning to sabotage as much as possible to prevent him from acquiring Baesung Distribution.
"Do you think I'll just stand by and watch?"
"I'm sorry, but I don't think you have time for anything, CEO Myung Sung-chul. And I should get up first to finalize the contract. I'm planning to finish everything today."
"…What?"
Shinwoo stood up.
"Exactly as I said. I'm going to finish everything, including the acquisition, today. Mark, please make sure you have the bag with the necessary documents."
"I already have it."
Mark Freeman held a Duralumin bag in his hand.
"…You mean you're going to process all the acquisition funds today?"
"That's right. I don't like dragging out what I've started. Excuse me."
Shinwoo passed the dumbfounded Myung Sung-chul and approached Zhi Wipan. He was naturally guided out of the conference room, as if it had been arranged in advance.
Myung Sung-chul, who was standing with his secretary, couldn't help but have his expression contorted once again.
* * *
[DAX Open Bidding for Baeseong Corporation Affiliates! MH Future Security, Cheongsan Cement, and Woosang Distribution Declared Winners!]
[MH Future Security Succeeds in Bidding for Baesung Distribution! The Bid Price is a Whopping 1 Trillion Won…….]
[Establishment of MH Group's Distribution Affiliate? The distribution lines previously managed separately by MH Foods and MH Retail will be integrated and separated into an affiliate…….]
.
.
Kwak Chi-young knew about MH Future Security's acquisition of Baesung Distribution even before the news. He also knew that Myung In-chul's younger brother, Myung Sung-chul, had jumped into the fray.
That was because Kwak Chi-young was the one who had agreed to support Myung In-chul's JION Fund with 400 billion won.
However, that was only if Myung Sung-chul could secure the bid with a total of 800 billion won.
"I knew Baek Shin-woo would eventually get it, but 1 trillion won…"
The acquisition price had been capped at around 850 billion won.
But Baek Shin-woo added another 150 billion won to that, making it impossible for anyone else to acquire Baesung Distribution.
Oh Han-sung stood beside him as always.
"Frankly, I think CEO Baek Shin-woo has taken an excessive risk this time."
Kwak Chi-young nodded.
"I think so too. I don't know where he got that much money, but he must have judged that he could make up for it by having MH Distribution. At the same time, he can seize control of all of MH Group's distribution lines and siphon funds from the affiliates of Myung In-chul, Myung Sung-chul, and Myung Soo-yeon."
Any company needed distribution to sell products and make profits. Previously, MH Group also had its own distribution lines, but the supply was not smooth in proportion to the demand.
The reasons were outdated systems and a lack of logistics centers.
As a result, they additionally used Baesung Distribution or other companies' distribution lines, and naturally, some of the profits had to flow out.
"It will be a significant check. But I think that much money has been drained, so MH Future Security's progress will be hampered."
"That would be fortunate…"
As his thoughts became complicated, a vibration rang from Oh Han-sung's pocket.
Oh Han-sung's face hardened as he briefly answered the phone.
"…Branch Manager. It seems that CEO Baek Shin-woo and Branch Manager Dorothy McDaniel had separate contact in Hong Kong."
Instantly, Kwak Chi-young's expression also darkened rapidly.
"…Tell me in detail."
"Branch Manager McDaniel requested the meeting first. She blocked CEO Baek Shin-woo while he was moving from Hong Kong Airport to his accommodation. And then they met at the Li Ching Hai Restaurant that evening. The content of the conversation could not be determined because they met privately."
Kwak Chi-young's expression darkened even further as he realized Dorothy McDaniel's intentions.
"It seems she's trying to retaliate against me for the Seven Circle Society matter."
Currently, Dorothy had concluded the matter by cornering the Seven Circle Society. In the process, she must have discovered traces of the Three Fiends incident being instigated by the TSF Korean branch.
"The Chinese branch is not showing any noticeable movements at the moment."
"From the very beginning, contacting Baek Shin-woo was a grand gesture, so it must have been her intention to show it to me. Baek Shin-woo must have looked quite appetizing to that woman."
During that answer, Oh Han-sung suddenly remembered something.
"Could it be… that the Chinese branch was involved in this Baesung Distribution matter?"
With the news, another new possibility was presented.
However, Kwak Chi-young shook his head.
"Baek Shin-woo never receives anything first. He always gives something first and then receives. Moreover, he never receives anything that would put him in debt."
When Kwak Chi-young first traded with Shinwoo, he only received information about Koga Pharmaceuticals and Baeseong Corporation. And all Kwak Chi-young had done for Shinwoo was an investment of 10 billion won at the time of MH Future Security's founding.
Moreover, even that was fully repaid not long after MH Future Security was in operation. With a considerable profit attached.
On the other hand, there were no noticeable changes at the TSF Chinese branch right now.
"Shouldn't we do something instead of just standing by?"
"We have to do something, even if it's a bit crude."
"How should we prepare?"
At Oh Han-sung's question, Kwak Chi-young tapped the armrest with his finger as if contemplating.
Tap— Tap—
"We'll have to use the Central District Prosecutor's Office."
"Not the Supreme Prosecutors' Office?"
"We haven't found any solid evidence there yet, have we?"
Until now, Kwak Chi-young had been trying to find illegal evidence that could be a weakness for Shinwoo.
Frankly, there was no one who wouldn't have dust if you shook them.
But Shinwoo had nothing. At least, he thought he could find subtle traces of insider trading for stock profits.
"Then… wouldn't it be the same for the Central District Prosecutor's Office?"
"Even if you don't start a fire, there's smoke. Who's going to take out what's burning inside?"
He was planning to create smoke where there was no fire.
Oh Han-sung understood the meaning and nodded.
"What level should we start with?"
"If the fire doesn't go out easily, and if we want to pour water on it to put it out when necessary, it should be at least a Chief Prosecutor."
"Then… I'll tell them to move with the Central District Prosecutor's Office line."
"They'll have a lot of trouble because of the hard-to-find source, so give them a generous bonus."
Oh Han-sung immediately went outside.
Left alone, Kwak Chi-young went to the table on one side of the office and poured whiskey into a glass and drank it. In the evening, when night began to fall, he could see the cars densely occupying the roads below outside the window.
"Dorothy McDaniel… you're trying to stab me in the back like this."
Shaking MH Future Security with the prosecution was to prevent Dorothy from moving easily.
Of course, it wasn't easy, but it would at least delay Dorothy and Baek Shin-woo from joining hands.
"Dorothy's power has grown because the Seven Circle Society has collapsed in China…"
There were more than one or two things to worry about.
In the meantime, he called Oh Han-sung, who had just gone outside.
[Speak.]
"Can you find the two-man mercenary group that Dorothy mentioned last time, who are active in the Middle East and Africa?"