Chapter 11 Acquisition Price, 160 Million
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Translator: JayM
Chapter: 11
Chapter Title: Acquisition Price, 160 Million
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The owner of Yuanfeng Farm was named Sun Wang, a middle-aged man nearing sixty but was still hale and hearty.
Although he was a businessman, he appeared quite upright and seemed meticulous in handling affairs.
After Su Yi followed Manager Zhou of the farm to meet with Sun Wang, the two only exchanged simple pleasantries before Sun Wang, without another word, personally took him for a stroll around the farm.
Having them personally go to the farm to see what was being raised and planted inside naturally held great reference value for when both parties negotiated the price later.
A farm was different from places like factories. It couldn't be prepared in advance.
After all, both crop farming and livestock raising required time. There was no possibility of arranging things in advance or cramming at the last minute to fool someone.
So it was still very meaningful for reference.
Even if Sun Wang hadn't brought it up proactively, Su Yi would have found an excuse to look around the farm.
After taking a look around, Su Yi realized that he had somewhat underestimated this farm previously.
The various things planted and raised here were in themselves an extremely massive fortune.
The value of the various modern agricultural facilities were even more difficult for ordinary people to estimate.
The farm as a whole appeared extremely advanced and was planned very reasonably.
In the words of Manager Zhou's introduction, the farm adopted a scientific cyclical planting scheme, and it was currently producing several tons of fresh fruits and vegetables of different varieties every day to be sold on the market.
Under this scheme, as long as the farm was still operating, there would be a steady stream of agricultural output in the corresponding seasons.
At the time, Su Yi had half-jokingly asked Manager Zhou if it was possible to expand the varieties of crops planted so that the farm would never stop production in terms of planting all year round.
Manager Zhou then told him quite professionally that this could be done further south, in places with warmer climates.
But the climate in Jiangcheng wasn’t very suitable for it.
Although off-season planting was nothing to modern agricultural technology, it didn't quite align with the pure natural, green, and ecological agricultural products that Yuanfeng Farm focused on.
And even if they were grown, they wouldn't be easy to sell.
Su Yi hadn't considered the problem of how to sell the things grown on the farm in the first place, so this naturally wasn't an issue for him.
Just knowing that it could be done, he didn't ask any further questions.
......
After looking around, the group returned to Sun Wang's office once again.
It could be seen that although Sun Wang was wealthy, his daily life was relatively plain.
There were no decorations like calligraphy and paintings meant to feign elegance in the entire office, let alone luxurious things like a mahogany desk.
Simple and clean, that was Su Yi's first impression upon entering the room.
Sun Wang himself very politely made a cup of tea for Su Yi. After the two exchanged a few pleasantries, they got straight to the point.
"Mr. Su has also inspected the farm for a while now. I wonder if you have any thoughts?"
"It's quite good, meeting my requirements in all aspects. It can be seen that President Sun and Manager Zhou have managed the farm very well."
Su Yi picked up the tea, took a sip, and gave a fair answer.
"Then regarding the matter of transferring this farm..."
Sun Wang pursued the question rather eagerly, clearly very anxious to sell the farm in his hands.
As this involved an asset transfer of hundreds of millions of funds, Su Yi definitely didn't have that much money in his hands right now.
But fortunately, this kind of thing wasn't something that could be negotiated and settled in a day or two. What they were discussing now was just a preliminary intention to cooperate.
"President Sun also knows that I’m not from this line of work, so I’m not too familiar with the situation in your industry. Why don't you quote a price, President Sun, and I'll go back and research it before giving you a reply. How about it?"
Su Yi smoothly kicked the ball back, then he added:
"If the price is reasonable, we can sign a letter of intent tomorrow at the latest, and I can pay an initial deposit of no less than ten million."
He really didn't understand this farm business, and there was no need for him to pretend that he knew a lot of it.
After all, his current identity was a boss with money in his pockets wanting to invest in something after having been introduced by another boss.
It was normal for him not to understand the technology and market conditions of the agricultural industry.
As long as he had money in his hands, there were plenty of professional institutions that would help him evaluate the value of the farm.
Sun Wang wasn’t surprised by this answer.
After thinking it over again and again, he tentatively said:
"My preliminary opinion is 160 million. What does Mr. Su think?"
Hearing this, Su Yi raised his eyebrows in surprise.
Although he wasn’t an insider, he had definitely specially looked into the relevant situation of the farm before coming here.
Yuanfeng Farm was founded thirteen years ago, and at that time, over one hundred million in funds had been invested in it.
Coupled with the expenses for maintenance and upkeep in various aspects over recent years, the money invested in it would have only grown as time passed.
Of course, the farm definitely had profits too. It couldn't be that they were spending more than they earned.
It was just that after the inflation of these ten or so years, the one hundred million from over ten years ago and the one hundred million now didn’t have the same value.
The various equipment purchased with an investment of one hundred million back then couldn't be bought for one hundred million now.
Moreover, these pieces of equipment were basically all still intact and usable.
Add to that the appreciation of the land…
Even though the property rights of the farm's land still had seventeen usable years left out of a total of thirty, this was agricultural land, so its value was definitely different from commercial land.
But generally speaking, it would be completely impossible to lease such a large piece of land for seventeen years at the price from ten years ago now.
So no matter how you looked at it, what Sun Wang quoted was a very conscientious price.
Su Yi's money came easily. Since the other party had already quoted a price that he deemed very reasonable, even somewhat discounted, he couldn't be bothered to bargain.
Anyway, it was only at the intention stage right now.
When it really came time to sign the contract and transfer the money, he would definitely find a professional institution to come over and conduct an inspection and evaluation.
So there was no harm in agreeing to it now.
Seeing that he agreed without even haggling over the price, Sun Wang was naturally overjoyed.
It just happened to be dinner time, so he specially treated Su Yi and Yue Ling, who had come along, to a meal at the farmhouse restaurant attached to the farm.
During the meal, Su Yi proposed that he wanted to purchase a batch of fruits and vegetables first. Naturally, Sun Wang had no reason to refuse and immediately had Manager Zhou arrange for people to pick them overnight so that they could be delivered to Su Yi's designated warehouse early the next morning.
Of course, for this kind of purchase, the money definitely had to be paid first.
A total of eight tons of fruits and vegetables were purchased, all of which were in-season products, and they were freshly picked from an ecological farm, so the price was naturally a bit more expensive than those in ordinary wet markets and fruit shops.
It was a little over one hundred thousand in total.
Sun Wang made the decision to directly round off the fraction for him.
One hundred thousand, signing the contract and transferring the money on the spot.
Seeing him transfer the money without blinking an eye, and from a private account at that, Sun Wang was even happier now.
Nowadays, some big bosses who claimed to have a net worth of tens or hundreds of millions might actually have more debt than their net worth.
Even wanting to buy a car required going through their company's account.
Without going through a corporate account, they really might not be able to pull out this one hundred thousand or so for grocery money anytime and anywhere.
Unless they were truly not short of money, many wealthy people wouldn’t put too much funds into their private accounts.
After all, there were tax issues involved, and people with money in their pockets were shrewd.
......
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T/N - Well now, the farm sounds lovely and all, but I’m really looking forward to how the MC will liquidate his gold next. Not only does he need to go through underground channels to sell them, he also has to make the money look legitimate after getting it or risk being audited by their version of the IRS. Can’t wait to see how the author finangles that.