Chapter 380 Unequal Treaties, the Pinnacle of Free Acquisition!
The next morning, Lin Haoran, accompanied by his bodyguards, once again arrived at Jardines Matheson.
This time, there was a lot more to deal with.
However, the majority of the work didn't require Lin Haoran's direct involvement—it would be handled by Ma Shiming, the acting head of the Land Group.
As for Lin Haoran, his main task was to sign various agreements with the British consortiums regarding the previously negotiated terms.
Niu Bijian, as Jardines Matheson's Taipan, also played an important role today.
Inside the conference room on the 19th floor of Jardine House, Lin Haoran, Ma Shiming, Ho Kin Ning, and the Land Group's legal team were seated on one side of the long table.
Across from them sat Henry Keswick, Niu Bijian, and other representatives of the British consortiums.
Even the four British shareholders of the Land Group were present.
Lin Haoran didn't know exactly what promises Henry Keswick had made to persuade them to sell their shares willingly, but frankly, he didn't care.
All that mattered was signing the contracts and transferring those shares to himself.
He even spotted Baofu Da among them—the former Executive Director and General Manager of the Land Group—whom Henry Keswick had obviously called back to assist in reclaiming Jardines Matheson's control.
Outside the windows, the bustling scenery of Hong Kong stretched out magnificently, yet inside, the atmosphere was heavy.
Lin Haoran carefully reviewed each agreement prepared by Jardines Matheson's side.
Each contract signed meant another transfer of assets or rights—from Jardines Matheson and the British consortium to the Land Group and Lin Haoran himself.
While the Land Group's legal counsel and Ma Shiming had already thoroughly reviewed these contracts, Lin Haoran chose to double-check everything personally.
After all, the interests at stake were enormous.
First were the contracts for the four British shareholders of the Land Group to sell their shares.
Combined, these shareholders held 10.2% of the Land Group. Signing these contracts would cost Lin Haoran HKD 1.042 billion.
Each British shareholder quickly signed, and then Lin Haoran calmly signed his name as well.
With these shares secured, together with the 41.3% already held by Huanyu Investment, 6% held by Hongkong Electric, and the 0.85% acquired from the market recently, Lin Haoran now controlled 58.35% of the Land Group's shares.
Next came the agreements transferring the Mandarin Oriental and Oriental International hotel brands back to the Land Group, as well as a declaration supporting the privatization of the Land Group.
Following that was the deal for Kwai Chung Terminal No. 5's controlling interest, which Lin Haoran acquired for just HKD 100 million.
…
With each document signed, Lin Haoran felt an enormous weight lifting from his shoulders.
Meanwhile, the British consortium representatives, including Henry Keswick and Niu Bijian, looked like they were bleeding inside.
Today should have been a day of celebration—they were reclaiming Jardines Matheson—but the price they had paid was staggering.
It was nothing short of an unequal treaty.
Yet, what choice did they have?
If not for invoking the British royal family's influence, Lin Haoran wouldn't even have agreed to negotiate.
"Mr. Lin, the main agreements have been signed. Now, may we proceed with these two final contracts?" Henry Keswick said, handing over two documents.
One was the agreement for Lin Haoran to sell his 19% stake in Jardines Matheson for HKD 1.9 billion; the other was the mutual return of shares between Jardines Matheson and the Land Group, severing all future ties.
These two conditions were, in essence, unequal treaties.
For example, the HKD 1.9 billion valuation for Lin Haoran's 19% stake was well above market value.
Also, the Land Group shares Jardines Matheson was returning were worth significantly more than what Jardines Matheson was reclaiming.
Still, Henry Keswick had no choice.
After all the back-and-forth, getting Lin Haoran to let go was worth the sacrifice.
If these two contracts were signed, Jardines Matheson would finally and completely sever from the Land Group.
"Of course, Mr. Henry. Since you've been so cooperative, there's no reason for me to delay," Lin Haoran said with a laugh.
Thus, Lin Haoran and Henry Keswick, along with Amos Rothschild, signed the two final contracts.
Since the Keswick family couldn't afford to buy all 19% of Jardines Matheson's shares themselves, they had to split it:
The Keswick family paid HKD 1 billion to acquire 10%, and the Rothschild family paid HKD 900 million for the remaining 9%.
Meanwhile, Niu Bijian, on behalf of Jardines Matheson, and Ma Shiming, on behalf of the Land Group, signed the mutual share-return agreements—without any additional financial settlements.
An annex attached to the contract included a resolution from the Jardines Matheson board of directors, unanimously approving the transaction, ensuring that no future board could contest it.
Only Niu Bijian signing on behalf of Jardines Matheson wouldn't have been enough; board approval was mandatory.
On the Land Group side, with Lin Haoran's majority control, his agreement alone was sufficient.
After both final contracts were signed, Lin Haoran smiled and shook Henry Keswick's hand.
"Congratulations, Mr. Henry, on reclaiming Jardines Matheson's controlling stake!" Lin Haoran said.
"And congratulations to you, Mr. Lin, for making great strides toward the privatization of the Land Group," Henry Keswick replied with a rare smile.
Now, with 22% of Jardines Matheson shares, the Keswick family was the undisputed major shareholder.
And since Jardines Matheson would cancel 30.1% of its shares (reclaimed from the Land Group), the Keswick family's shareholding would effectively rise to 31.5%.
This allowed them to consolidate their control even if other shareholders occasionally formed alliances.
Thus, they felt secure enough to bring in the Rothschilds without risking losing control to HSBC or others.
But all of this was no longer Lin Haoran's concern.
After stripping Jardines Matheson bare, Lin Haoran's next move was to finalize the acquisition of the 30.2% Land Group shares returned by Jardines Matheson.
With his current 58.35% stake, he had already passed the 50% threshold needed to initiate privatization.
Once he acquired the remaining 30.2%, his total control would reach 88.55%.
The funds for purchasing these shares would remain within the Land Group's own accounts—another brilliant maneuver.
After the privatization, the Land Group's massive assets and cash reserves would belong solely to Lin Haoran.
This was truly the pinnacle of free acquisition!
As the final signatures were completed, the room erupted into polite applause.
Although it seemed on the surface that others gained little, Henry Keswick had clearly promised enough behind-the-scenes benefits to satisfy them.
Ultimately, Lin Haoran was the biggest winner.
And although Henry Keswick regained Jardines Matheson's control, he had paid a heavy price—sacrificing valuable assets along the way.
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