Chapter 1051: The Taikoo Consortium finally came to an end

"Hello, Chairman!'

'Hello!'

When Xia Yu arrived at Jiuding Securities, he saw a busy scene. Amidst the greetings from the employees, he found Wang Qi, who was busy working.

'Wang Qi, come to my office when you're done!'

Seeing that Wang Qi was not going to be done any time soon, Xia Yu did not stop him, but told him to go ahead and left on his own.

He first went to the operations room and found that all the employees were fully engaged in bottom fishing in the stock market. Satisfied, Xia Yu left for his own chairman's office.

After brewing some tea and leisurely drinking it for about a quarter of an hour, he saw Wang Qi enter with hurried footsteps.

'Chairman, I'm sorry to have kept you waiting!'

Xia Yu smiled and shook his head to indicate that he didn't mind, then asked, 'How are the various tasks progressing?'

Wang Qi replied, "They are all going relatively smoothly. So far, we haven't encountered any major obstacles, and we've solved all the minor problems.'

Xia Yu nodded slightly, "That's good!'

Then he immediately asked, 'How is the acquisition of the shares of the four major stock exchanges going?'

Wang Qi had placed this acquisition at the top of his list, so it had achieved some significant results, and he was not at all daunted by Xia Yu's inquiry.

He reported the results in detail to Xia Yu: 'Chairman, we have acquired a considerable amount of shares in the four major stock exchanges. The progress has been even greater in the gold and silver exchange and the Kowloon Exchange. The larger Far East Exchange and Xiangjiang Exchange have been more difficult to acquire, but we have still had some success.'

'Currently, we hold 19.2% of the shares of the Gold and Silver Exchange, 18.5% of the Kowloon Exchange, 13.3% of the Hong Kong Exchange, and 12.4% of the Far East Exchange.'

'The reason why the Far East Exchange has the smallest number of shares acquired is because its leading founder, Li Fuzhao, saw that we were acquiring it and followed suit, making it more difficult for us to acquire.'

Xia Yu nodded slightly and said nonchalantly, 'Don't worry about Li Fuzhao. Although the Bank of East Asia has averted the crisis of a run on the bank, a lot of capital has been withdrawn. Right now, the Li family doesn't have much liquidity, and the Li family won't let him spend money recklessly in this regard. He can't buy much. It's the same whether we buy more shares in the other three exchanges. In the end, the four exchanges will merge, and the shareholdings will be reallocated according to the size of the four exchanges.'

'The acquisition of the Hong Kong Exchange has slowed down a bit. This exchange has more British shareholders. Now that the British are in full retreat, they must all want to return to the UK. We can use carrots and sticks to serve them.'

Wang Qi couldn't help but smile, nodded and replied softly, 'Okay!'

Xia Yu took a sip of tea to moisten his throat and asked again, 'What about the Joint Stock Exchange Founding Committee? Is there any big trouble?'

Wang Qi smiled and replied with a relaxed expression, 'When we first joined, they were intimidated by our authority, so overt resistance and confrontation basically didn't happen. They gave me and President Liu face, but they were actively resisting behind the scenes.'

'It was only after I acquired the shares held by the shareholders of the four major exchanges on my side and entered their internal board of directors that they also understood the situation and realised our tough stance. So now the situation is relatively good and all work is progressing in an orderly manner.'

'I also understand a lot. The progress of the work is relatively slow at the moment, mainly because there are relatively big differences in terms of system construction. We have referred to the American and European exchange templates more, and we are preparing to take the essence and discard the dross, but many systems have their pros and cons, and it is difficult to make a decision for the time being.'

Xia Yu immediately understood and smiled faintly, saying, 'Just do it for now. I have been planning it these days, and I will come up with a guiding plan as soon as possible. At that time, focus on referring to my plan and do it.'

Wang Qi was instantly relieved and nodded with joy, 'Okay!'

After learning about the situation, Xia Yu and Wang Qi instructed him to acquire the assets of the Carrian Group, and to send an excellent acquisition team to work with Jiuding Bank to acquire the valuable assets of the Carrian Group.

Wang Qi, of course, obediently accepted the task.

Afterwards, Xia Yu once again reminded him not to let up on the acquisition of the Taikoo Group and other bottom fishing plans.

He then left Jiuding Securities.

...

Time passed quickly, and the Jiuding Group's bottom-fishing and takeover operations proceeded apace, whether it was weekdays or weekends, whether the stock market was open or closed.

With tens of billions of Hong Kong dollars in liquid capital, no company could resist for long, and one after another company was taken over.

The Jiuding Group's assets grew rapidly!

In order to quickly end the stock market crash, and after ascertaining the facts, MacLehose urged the High Court of Hong Kong to conclude the case as soon as possible.

On the 25th of September, the court opened to hear the case of this financial fraud involving a huge amount of money.

In order to give an account to the people of Hong Kong and to let investors in Southeast Asia know what was going on, MacLehose indicated to the High Court of Hong Kong that it should authorise Global TV to broadcast the entire trial live.

The public was extremely concerned about this matter, and many people turned on their televisions to watch the live broadcast.

Because the matter was investigated very clearly, and all the people involved had confessed, the key point was that Chen Qingsong himself took the initiative to confess his crimes and give a full account of the situation. During the trial, Chen Qingsong, for the safety of his family, admitted all the crimes and charges that the judge read out as true, and the judge ultimately sentenced Chen Qingsong to 25 years in prison and confiscation of all assets to pay off the debt.

Chen Qingsong announced in court that he would waive his right to appeal and accept his punishment.

Seeing this result, the audience in front of the TV cheered.

After the court hearing was over, the disposal of the Carrian Group's assets officially began, and the hunters who had been waiting eagerly jumped out.

But, unsurprisingly, all the assets Xia Yu wanted were eventually taken over by Jiuding Securities and Jiuding Bank, and the price paid was not high.

As for the debts of the Carrian Group, they had nothing to do with the assets he bought, so he did not have to bear them.

After obtaining the assets, Xia Yu ordered Chen Qingsong's wife, son and nephew to be released. After Chen Qingsong received the news in prison, he finally had a peace of mind and honestly served his time.

After the assets of the Carrian Group were in his hands,

on 15th October, the battle for the assets of the Swire Group finally came to an end.

The Swire Group's main asset, Swire Pacific, was fully acquired by Xia Yu.

Its main asset, Swire Properties, was divided up among the Jiuding Real Estate Group, with Swire Infrastructure, Swire Properties Development, Swire Hotels Management, Swire Property Management, and so on, being swallowed up by similar companies under the Jiuding Real Estate Group.

Swire Pacific's Swire Pacific Warehouse Company was also wholly acquired by Hutchison Whampoa, and its four ports were merged into Hutchison Port Holdings, which increased the number of ports owned by Hutchison Port Holdings from 17 to 21, occupying 87.5% of the 24 ports in Hong Kong!

As for Swire Pacific's other listed company, Swire Pacific Shipping, Xia Yu was not interested and did not compete for it.

In addition, Xia Yu also took over Swire Pacific Agribusiness and Swire Pacific Offshore, which was just established in 1975.

In general, most of the assets of the Swire consortium were taken over by Xia Yu's Jiuding consortium.

Swire Pacific's financial core, Swire Pacific Finance, because most of the funds were diverted to the acquisition of Swire Pacific's stock, but much of the funds belonged to investors and banks, so all of the assets were auctioned off, and Swire Pacific Finance went bankrupt with liabilities exceeding assets.

After the auction of all the assets pledged to the bank by the Swire Group and the Shih Ya-Huai family, it was still not enough to offset the bank's debt.

At the strong request of a number of banks, it was useless for the Shih Ya-Huai family to use their connections. The Hong Kong government prohibited the Shih Ya-Huai family from leaving Hong Kong. After first liquidating the assets they still owned, they could only be released from the prohibition order if they were truly unable to repay.

Seeing the fate of the Sze Ya Huai family and the Swire group, many people sighed with emotion, and they gained a deeper impression of this stock market crash. Of course, they also gained a deeper understanding of Xia Yu.

The power of the Jiuding group has reached a new height!