Bulgarian Empire

Chapter 84: Acquisitions

Chapter 84: Acquisitions

Since the Austro-Hungarian Bank is selling off in tears, Ferdinand has been planning for so long. How can he not take full advantage of the crisis?

At the behest of Ferdinand, Franz made an offer to the Austro-Hungarian Bank to acquire the Bulgarian branch.

It is not surprising that Fidos only hesitated for a few minutes before he decided to - sell. All to this time, first to save their interests at stake. Whether it will reduce the influence of Austria-Hungary in Bulgaria or not to offend the Austro-Hungarian government does not matter so much now.

The situation has now exceeded Ferdinand's most optimistic guess. It is totally great, and many of his highly coveted industries in Austria-Hungary are now at hand.

This economic crisis can be a great deal for those bankers to eat and choke. Of course, it is not clear now. In the economic crisis, many assets have been devalued. Once it returns to normal, the situation will change.

Now that the financial crisis has broken out, the Austro-Hungarian Bank began a tearful sale, while other banks are not much better.

At the time of life and death, it is crucial to know whether it is a loss or before it is too late to get rid of the situation. Raise funds first, get rid of the financial crisis, keep the bank's core industry, and then talk about future prospects.

All know that they can sell the less good price more often this time. However, there is no way to the bank before that long waiting queue of people who want the money back!

The prudent and cautious Ferdinand knows the "gun to the head of the bird"1). For the purpose of this to become a public target, the wares of those under them have been out. No matter so much, buy down the quality assets first. Later on, they can make a serious profit even if they operate themselves or sell them.

Now the Austro-Hungarian Bank was short of cash, and after Fidos signed it for approval, Franz's deal went very smoothly and was finalized in just under three days.

The Bulgarian branch of the Austro-Hungarian Bank was valued at 1.5 billion Leva by Austro-Hungarian Bank itself, while Franz's appraisal was only 50 million Leva. He also offers only 50 million and refuses to make a counter-offer.

This condition is already too much, but now the Austro-Hungarian Bank cannot afford to delay. Moreover, outside the Bulgarian branch, there are long lines of withdrawals, and the branch's stock of funds can only support two days at most.

We can't blame Ferdinand for being vile. If you don't use tricks in this era, you're a fool. If not for fear of pushing the Austro-Hungarian Bank as the other side will directly sell the branch to other powers, the 50 million from Ferdinand will not be out. He will now let the other side bankrupt in the run.

After a day of fruitless talks, the head of the Bulgarian branch of the Austro-Hungarian Bank directly reported the situation to Fidos.

Ferdinand is not the only one who took profit from the fire. The assets of the Austro-Hungarian Bank in many places are already valued. No matter how good the usual ties are, at this moment, they can murder one without giving him any mercy.

Fidos also does not know how often he smashed things in the past few days. His office has been changed several times.

He gritted his teeth firmly and raised hell in his heart for Ferdinand's whole family and even his ancestors, and finally decided to sell in bad faith.

It's not that Fidos couldn't find a buyer, both German and British banks were interested in the asset.

However, the Bulgarian branch of the Austro-Hungarian Bank could not hold out. In order to ensure that the acquisition could proceed smoothly, it also caught several other Bulgarian branches of foreign banks in a major or minor bank run, and no one dared to act rashly.

Without a doubt, who else but Ferdinand could have dared to do something so bold and reckless in Bulgaria?

Once they ran the Austro-Hungarian Bank in Bulgaria into bankruptcy, there is no doubt that the Bulgarian government will let it go straight into bankruptcy and liquidation. Austro-Hungarian Bank is afraid that they will lose all their money.

If before, Fidos can still use the Austro-Hungarian Empire to pressure Bulgaria not to dare to act rashly. However, after the Russian-Bulgarian alliance, all this has changed. With the bad relationship between Austria-Hungary and Russia, what else is needed to say?

Which is now with the international situation, Ferdinand has paid the money to buy it by rule. If it is set aside in twenty years, when the two blocs have opposed each other, he can directly devour it.

It is good to say that the next, the Austro-Hungarian Bank in Bulgaria, is well known to Ferdinand. Once he signed the contract, Ferdinand quickly paid the money and sent people to take over the assets of the Austro-Hungarian Bank in Bulgaria.

In fact, Ferdinand started raising funds to complete the acquisition long before the economic crisis. It was a vast sum of money at the time, 50 million Leva and 20 million pounds.

Even after Ferdinand traversed, he tried to make money without affecting the other industries, but only half of it.

If there's no money, of course, there s a loan. What Ferdinand has is collateral. The ability to repay is also clear for all to see, making it a proper quality customer.

Then Ferdinand began to loan, loan, loan, before and after from the major European banks for more than twenty million pounds. It is clear that Ferdinand is planning to play a big one, which is also Austro-Hungarian Bank. I wonder if Fidos will be angry when he knows this news.

For this reason, Ferdinand now has to pay back more than one million and two hundred thousand pounds a year in interest. However, this business is still a hefty profit. The transfer of debts from the Austro-Hungarian Bank to the Bulgarian government alone is enough to recover the cost.

Before that, the Bulgarian government owed the Austro-Hungarian Bank a total of more than 58 million Leva in loans. The annual interest to be paid was more than four million Leva or about one million and eighty thousand pounds.

Ferdinand had an additional income of nearly 600,000 pounds a year with the turn of a hand. There is no need to mention the other assets of the Austro-Hungarian Bank in Bulgaria, which add up to absurd amounts.

In fact, the previous estimate of one point five hundred million Leva proposed by the Austro-Hungarian Bank is not without basis. Besides the government loan, it also holds more than half of the minerals in the whole of Bulgaria. Although Bulgaria is poor in mineral resources, it does not add up to a small figure.

Looking at the list of statistics, Ferdinand lamented, "It's true that it's quicker to get rich by taking profit from the fire! The Austro-Hungarian Bank is also really powerful. Such a large loan was actually taken by them alone. They deserve to be unlucky. It is only a matter of time before problems arise with such a large overseas investment!"

If Fidos knew what Ferdinand was thinking, he would have cried foul. The Austro-Hungarian Bank has been running very well. Whether this bastard of yours does not target it, it will come to bloody lousy luck!

After this vast acquisition was completed, Ferdinand, who had a good sense of fun in every minute of his life, made another decision to establish the Royal Bulgarian Bank.

The Bulgarian branch of Austria-Hungary, which had just been acquired, was merged into it. The old and strong Butler Karl, who had been expected to become the first president, was appointed.

However, Ferdinand's habit of having a vest had started again. The bank that he ordered Franz to build had become a new one and was named the Bulgarian Construction Bank.

Translator:

1) A Chinese word that means to behave in a way that is not too revealing, or else one is prone to incur a disaster. It is a metaphor for the person who shows his true feelings easily to suffer from any blow.