WULOLIFE
"The Game of Money" Author: Shan Weijian Publisher: CITIC Publishing Group Douban 2022 Business Management Book
"The Game of Money" Author: Shan Weijian Publisher: CITIC Publishing Group Douban 2022 Business Management Book
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Description
Introduction · · · · · ·
In recent years, private equity investment has gradually come into the public eye, but few private equity investment acquisition transactions have been described clearly, in detail and in depth.
This book aims to fill this gap. It tells the story of a major acquisition transaction with far-reaching impact: Dr. Weijian Shan led the Newbridge team to acquire the Bank of Korea.
At that time, under the impact of the Asian financial crisis, the Korean economy was in a precarious situation and Korean banks were facing life and death. Against this background, the acquisition of this large Korean bank by an American investment institution had an impact on the Korean government and financial system, the stimulation to the Korean people, and the difficulties and obstacles in the transaction process.
As the actual operator, Dr. Shan Weijian highly restores the front and back of the transaction in this book. He reviewed the whole process from the idea, negotiation, transaction, management, and sale, and the intricate and tangled political and business relations, commercial competition, national sentiment, public opinion orientation, etc. were all described. After experiencing unfavorable factors such as the entry of powerful competitors, the impact of the political atmosphere on cross-border acquisitions, several changes in negotiators, and the continuous expansion of national sentiment, Shan Weijian and his team finally invested about US$900 million with the South Korean government and successfully acquired the Bank of Korea.
In the following five years, Newbridge helped Bank of Korea turn losses into profits, doubled its total assets to more than 40 billion US dollars, and finally successfully sold it to Standard Chartered Bank for 3.3 billion US dollars. After Standard Chartered Bank took over, it said that "Bank of Korea's risk management system is better than Standard Chartered Bank's own." It can be said that this merger is a miracle in the history of capital mergers and acquisitions. The life wisdom, investment philosophy, and power balance presented in the book will benefit people a lot.
For readers who want to learn from successful experiences for actual mergers and acquisitions, readers who want to know how private equity investment institutions make deals and create huge value, readers who want to peek into the financial operations under the game of major powers, and readers who are interested in the ups and downs of the financial field, this book is worth reading again and again.
About the Author
Shan Weijian
Executive Chairman of PAG.
In 1993, he joined Morgan Bank in the United States as Chief Representative for China Business and Managing Director. In 1998, during the Asian financial crisis, he joined Newbridge Investment Group (now known as TPG Asia) as Executive Partner and Partner of TPG. In 2010, he became one of the founders of PAG, serving as Chairman and CEO, and founded the group's private equity business.
He graduated from Beijing Institute of International Business and Economics (now Beijing University), and later obtained a master's degree and a doctorate degree from the University of San Francisco and the University of California, Berkeley. After graduation, he taught management at the Wharton School of the University of Pennsylvania for 6 years.
He is the author of a memoir, Out of the Gobi: My Story of China and the United States, published in both Chinese and English versions. It was selected as one of the top ten books of 2019 and the editor's recommended memoir by the Financial Times.
He occasionally publishes commentary articles, which are published in newspapers and magazines such as the Financial Times of London, the New York Times, the Wall Street Journal, Foreign Affairs, and the Economist.
