In just a few days, a lot of things happened, and nothing happened. Gregorian's approach to keeping a close eye on Barclays was very effective, and they made the same promise. Fortunately, they pulled Mubadala Investment Company into the chariot. Although they are small shareholders, their role is not worse than that of Xinghe Capital.

Not short of money is synonymous with Xinghe Capital and Mubadala. Coupled with Zhou Shi's promise, the Lehman branch in Eurasia and Asia has almost no other changes except for the ownership changes. Several major supervisors who had communicated long ago welcomed Gregory and Xinghe Capital's acquisition. Nomura Securities rushed over, but was unable to have an in-depth conversation with Folder and others. Barclays Capital was ruthlessly tied to Gregory, either succeeded or failed together. 7

On the 20th of the month, the fifth day after Lehman declared bankruptcy, the three parties reached an agreement, Barclays Bank acquired Lehman's core North American business for US$250 million, Tianhe Capital, led by Gregory, acquired Lehman Brothers' business in the Asia-Pacific region (including Japan, Hong Kong and Australia), as well as Lehman Brothers' investment banking and stock economy businesses in Europe and the Middle East, Russia, including the fixed income department. These transactions did not buy Lehman's trading assets and debts.

Tianhe Capital, a transaction in the Asia-Pacific region, covers 3,000 employees, of which about 1,300 are in Tokyo, 800 are in Hong Kong, and 250 are in Singapore. Tokyo is mainly a trading department, and Hong Kong is mainly a merger and acquisition, stock and bond underwriting department. There is also a size of 2,500 employees in the Middle East and Europe, far exceeding the previous size of Starry Capital.

The news came out, which was earth-shaking. It was fine. Gregory was just Lehman's abandoned son. How could he acquire Lehman? You should know that reaching an agreement with Lehman is not over yet, and it still needs to be approved by the court. But soon everyone knows that Gregory is supported by Xinghe Capital and Mubadala Investment Company. It was fun now. Xinghe Capital has been shorting and profit-making, and finally acquired a company that went bankrupt in the crisis.

The market was full of panic about Lehman's bankruptcy, and many people criticized the Federal Reserve and the Treasury Department. Nomura Securities, who was unwilling to fail, also took the opportunity to morally slander Xinghe Capital. The main reason was: short and make ill-gotten wealth.

Lu He and Gregory had to come forward to explain and clarify separately.

"All our short selling is based on our previous data analysis, which has been explained in many previous interviews, so I will not explain it one by one. As for now, after the crisis in September intensified, out of responsibility for the market, we did not short again, but gradually closed our positions, because we know that only a healthy market is the base for our long-term survival. In order to assume more responsibilities, we promise that we will no longer have any short selling behavior before the subprime mortgage crisis ends." Lu He made a solemn promise in an interview with the Wall Street Journal, which was unanimously praised by Aoguanhai.

"I understand Lehman. We have made great mistakes, but we cannot deny the excellence of our employees. I have been reflecting over the past few months. I know where the mistakes are and how to correct these mistakes. Our acquisition of Lehman's Asia-Europe business is based on the idea of ​​solving problems. I don't want Lehman, a group of excellent employees, to lose their current job opportunities and start from scratch..." Gregory's sincere speech moved a group of people with his choked voice.

A friend's Twitter also gave a multi-angle and comprehensive interpretation of Gregory's acquisition of Lehman's Eurasian business, which finally caused the public to gradually reduce their doubts about Star Capital. Lu He became the chairman of the new company, Gregory became CEO, and most of the other personnel were Lehman's employees.

The US Federal Bankruptcy Court also approved the three-party transaction. It originally wanted to interfere in Barclays' $1.5 billion acquisition of Lehman's operating headquarters in New York and two data centers in New Jersey. Unfortunately, after being delayed by public opinion, Galaxy Capital missed the best opportunity.

Barclays' specific acquisition of Lehman Brothers' business departments will include transaction research, commodity, foreign exchange, merger and acquisition consulting, and institutional brokerage departments. Moreover, in his previous life, Barclays released its 2008 financial statements: in this acquisition of Lehman North America, Barclays actually obtained a huge profit of 2.26 billion pounds (3.72 billion US dollars). Zhou Shi could only watch with envy that the gap in strength gave him no chance to interfere with such huge benefits. Even if he only acquired part of the Eurasian business, they still faced more complex challenges.

However, the financial crisis will not end. On the same day that Barclays and others announced the acquisition of part of Lehman's assets, the government of Xiao Bus officially submitted a bill to the US Congress to save the financial system, and the Treasury Department will be authorized to purchase bad housing mortgage assets up to $700 billion. That is to say, those defaulted properties may be taken over by the US Treasury Department, and investment banks like Lehman may get rid of the current crisis, especially Lehman. Most of their losses are caused by leverage buying of houses. If these measures were announced a few days earlier and implemented, Lehman's fate might be very different. However, if Lehman does not go bankrupt, these measures may be difficult to appear. After all, Lehman is still a victim. The US government guarantees the public that they will not favor Wall Street. They are for the sake of the overall situation. Well, it is for the sake of the overall situation. The governments around the world have the same virtue.

"We should first digest and absorb our current strength, integrate Lehman's overseas resources as soon as possible, and maintain customer relationships." Lu He spoke at the first work meeting after the acquisition. Although many Xinghe Capital has been transferred to the new Tianhe Holdings Company, his influence is still very weak compared to Gregory.

"I don't think so. Our goal is to develop a global investment bank, not a regional large company. Taking advantage of the unstable foothold of Barclays, we can vigorously absorb Lehman's past resources and build our base on Wall Street." Gregory

"We are going to start from scratch on Wall Street. The company's crisis has not yet been resolved. It's too risky to do so."

"Everything you do is risky. Now the situation is complicated and large companies are too busy to take care of themselves. This is the best time for us to grow and grow."

"It's not that we don't develop, we must first stabilize the internal situation before developing."

"Okay, needless to say, I know everyone's ideas." Zhou Shi interrupted their argument, "There are several projects here under the responsibility of Lehman. The United States acquires Golden State Warriors, Micron Technology; Europe acquires Arm, Liverpool Football Club; Asia Pacific, acquires Singapore's franchise semiconductors, and China's Atl, the parent company of Atl is from Japan..."

In fact, sometimes, it is still very simple to solve the problem!

(End of this chapter)
Chapter completed!