The "marriage" of the Mountain Steel Day steel

What happened in the two months of this year from August 30 to October 30? As the two protagonists of this reorganization, Shandong Iron and Steel Group Corporation (hereinafter referred to as "Shan Steel Group") and Rizhao Iron and Steel Holding Group Co., Ltd. (hereinafter called "Japan Steel Group") are silent.　　But the undeniable fact is that the restructuring has changed a lot. On August 30, the two sides signed a second reorganization agreement, Shan Steel Group in a one-time acquisition of the Japanese steel group assets of the restructuring of the Japanese steel group.　　This means that the head of the Japanese steel group Mr du completely out. But on October 30, Mr du's mouth changed, High-profile announced the development of the day Steel Group's 5-year plan.　　The refusal of his tone meant announcing that I was "back".　　At this point, only one months left before the delivery date agreed to in the second reorganization Agreement. Reorganization since May 7, 2008 "essay", has been more than two years of time.　　During this period, perplexing, the process of its game is called a wonderful drama.　　There are two important events in the reorganization of essay and Billion donation in May 2008, which have far-reaching influence on the Japanese steel group. The 12th of this month, Sichuan Wenchuan a big earthquake.　　A few days later, always low-key Mr du arranged daily steel group to the disaster area aid 100 million yuan, making it is not widely known that the day Steel group became the focus of media attention. Before that, Mr Du has been stuffy sound to send a big fortune.　　According to Liao Haiting, the party secretary of Japan Steel Group, in 2007, the pure profit of the group was 5 billion yuan.　　Liao Haiting said, regarding the donation, Mr Du thinks the national policy has fostered the private enterprise, the private enterprise also should do its social responsibility. But one thing that happens almost at the same time makes donations seem to have a deeper meaning.　　Mr Du said that in the May, the steel Group restructured Japan Steel Group began to "essay." In the previous March, the Mountain Steel Group officially listed. It took Shandong's two main state-owned steel enterprises Jinan Steel and LAIWU steel under its command. At the same time, according to the "Shandong Province Iron and steel revitalization plan", Shandong will build steel boutique base in Rizhao.　　The reorganization of Japan Steel group in the establishment of the Shan Steel Group, has become the established policy. Now, it seems, the donation itself may be the Japanese steel Group "resistance" mountain Steel group reorganization of the first action.　　Because become "star Enterprise", whether "resist reorganization", or carry on the reorganization negotiation, the bargaining chip will be many.　　In many people's view, as a private enterprise of the Japanese steel Group by the state-owned mountain Steel Group reorganization, a little bit of "strong marry" and "bullying small" flavor. Shan Steel Group in the establishment, immediately became the bank's "Sweet Cakes", short-term access to the bank 240 billion yuan credit, so that every private enterprise only envy.　　Moreover, at the beginning of the reorganization, it has been stated that the reorganization is "government supervision". In fact, although Mr Du did not "act", he succeeded in "leading" the media.　　In the intense public opinion focus, the Shan steel group also unavoidably "Troming". In the process of reorganization, it has triggered two of points of qualityDoubt, one is the loss of state-owned enterprises to restructure profit private enterprises, the second is "the country into the people retreat."　　As for the latter, even the heads of the relevant national ministries have come forward to enumerate the figures, stating that there is no "state of the People retreat" phenomenon. Long restructuring Road Mr Du has said: "It can be said that the reorganization of the essay since the summer of 2008, I have hesitated, have been difficult to give up, during which also experienced a confusion from the recognition to recognize the understanding of the process of acceptance." Whether this "readily accepted" is Mr Du from the heart of the unknown.　　Because he had previously preferred the restructuring of private steel companies. Mr Du has written a report to the State Federation, which he said: "A certain size of private steel enterprises can be combined, I have been thinking." "What prompted him from the" hard to give up "to" readily accepted "?　　May be the Japanese steel group's "congenitally deficient" by the dictates?　　Mr Du said, Rizhao Iron and steel is indeed congenitally deficient, the construction of early gets going, some projects did not get a complete project, environmental protection reply hastily on the horse. He believes that reorganization is conducive to resolving the historical legacy of the Japanese steel group.　　Words outside the meaning, if not restructured, Japan Steel Group's historical arrears can not be resolved, but also to be liquidated? Anyway, November 5, 2008, the two sides signed a letter of intent and due diligence program in Rizhao.　　Reorganization from "essay" to the substantive operation stage. Despite the signing of a reorganization letter of intent, Mr Du obviously did not follow the design of the other side of the pace to go.　　He has his own methods of operation. In the month of the signing of the reorganization letter of intent, Mr Du began to lay off workers and cut production.　　The reason is because of the impact of the international financial crisis. According to our correspondent at the time of the interview, the situation of the Japanese steel group is not as bad as they describe it. Sure enough, less than 3 months, the Japanese steel group has realized the profit.　　The net profit of the month is more than 300 million. This means far-reaching.　　When the reporter interviewed, there were insiders to reporters that this is the Japanese steel group in the manufacturing impact.　　Almost at the same time, Mr Du began to enter the international capital markets, which made the reorganization more "elemental".　　The month of 10th, Mr Du bought 440 million shares of the open source Holding (01215.HK) of Hong Kong-listed companies, equivalent to 6.18% of the company's issued share capital.　　Last May, Mr Du also placed 25% to 30% of its 3 core companies into open source holding, making Mr du the largest shareholder in open source control at the time (the option of the original largest shareholder was not honoured at the time).　　From May 2008 to May 2009, a year, the Japanese steel group completed two changes, that is, from a less well-known private enterprises to become a star enterprise, but also become a Hong Kong-listed public companies. Become open source holding the reality of the largest shareholder in Mr Du is "stone". First, the next step is the steel group with an overseas listed companies to negotiate restructuring; second, the Japanese steel group's 3 core companies 25% to 30% of the value of the shares of 5.2 billion Hong Kong dollars,What about the whole Rizhao iron and steel group, what kind of price will the Shan steel group produce? Even so, September 5 last year, the Japanese steel Group and Shan Gang signed a reorganization agreement.　　Mr Du also from the Japanese steel group's owner into a "guest", because the reorganization agreement agreed, in Rizhao boutique steel base before the completion of the Mr Du can lease day steel group assets for production and operation. "Prompted me to form this understanding, one for ' potential ', one for ' profit ': The big ' potential ', the Rizhao steel only conforms to industry concentration, structural adjustment trend to long-term development; ' Lee ' where, as an operator, the interests of the protection, cooperation and mutual benefit will naturally write into about.　　"Mr Du said. In the midst of this, there has been such a thing, last June, the National Ministry of Environmental Protection "to stop" steel group construction of the hot-rolled steel plate supporting technical transformation projects.　　Although this overall investment of 7.8 billion yuan most of the project has been put into production, but the Ministry of Environmental Protection, was interpreted as the industry will promote the steel Group restructuring Japan Steel Group.　　After nearly a year of "silence", the reorganization finally September 2 this year, new news came out, Mr du not shares, want money.　　Under the second reorganization agreement signed by the two parties, "the reorganization will be completed in the form of a one-time acquisition of the assets held by party a", and the reorganization will be completed by November 30 this year. According to the joint venture agreement last September, Mr du not take a penny, but basically only participate in dividends. And in the middle of the year, something important happened.　　Mr Du's steel group plunged into a case of bribery in Rio Tinto.　　Media reports said the Rio Tinto case, the largest bribe from the Rizhao iron and steel Control Mr Du, he admitted that around 2007, two bribery four accused of one of Wang Yong 9 million dollars.　　Now that the Rio Tinto case has come to an end and the relevant personnel have been dealt with, Mr Du has begun to develop the first five-year development plan for the Japanese steel group.　　Restructuring of the next October 30, the Jinghua Day Steel (holding) group (Japan Steel Group parent company) convened the 2011 production and operation of the mobilization meeting.　　Mr Du clearly said: this production and operation mobilization meeting, is to request starting from today, the focus of work to turn to production and management work. The Japanese Steel Group party secretary Liao Haiting words more direct.　　He said: From the center of the reorganization to the production and operation as the center, to make every effort to evaluate and sell more money, turn to do everything possible to engage in business management, manage, make more profits, improve efficiency, all the energy from the consideration of restructuring as the focus, to pay close attention to enterprise development as the center. Now, whether the Sasac in Shandong Province, or the Shan Steel Group, the Japan Steel Group, there is no authority to express their views on the specific process of reorganization.　　However, from the Mr Du and Liao Haiting of the above speech, Mr Du's mind has changed from a full exit to not quit.　　But yesterday, some media quoted Shandong province as saying, "This is only a unilateral action by the Japanese steel group." For the occurrence of such changes, the industry analysis, or because of the price of the talks. Mr Du previously said that the restructuring negotiations with the Shan Steel Groupis to do a business.　　Yesterday, the media quoted close to the Shan Steel group, said that the Shan steel for the "Transitional Management Agreement" was not satisfied, then instead of a one-time purchase of steel assets, but the final assessment results exceeded the Shan Steel group's ability to pay. There is no accurate argument about the size of the Japanese steel group's assets.　　According to the latest evaluation results, Shan Steel Group to buy out the daily steel group assets, to pay 8 billion to 10 billion yuan in cash.　　Although the Shan Steel Group has as many as 240 billion yuan bank credit, but the credit becomes the loan, also needs a process. Mountain Steel Group Now "spending" is not small. In July, it was news that the group had spent 1.5 billion of billions of dollars on acquiring 25% per cent of the African mining industry.　　On October 15, Shan Gang and the Oriental Bank, HSBC, Standard Chartered Bank and other international financial institutions signed a 305 million-dollar international syndicated loans. At the same time, in the middle of August this year, at the request of Shandong Province, the province was identified by the National Development and Reform Commission as the "Steel Industrial restructuring pilot province."　　August 23, Shandong province Governor Jiang Daming in the provincial government executive meeting, said that Shandong will be in the reorganization of policies, local interests policy and the support of Shandong Iron and steel policies and other aspects of specific measures, and set about the early preparation of Rizhao steel steel base.　　According to the state-related "reduction adjustment" principle, do not complete the restructuring of the Japan Steel Group, Rizhao steel base construction is not possible. Mr Du at this time announced the formulation of the next 5 years of development planning, perhaps it is a fancy to this opportunity. The game, which lasted more than two years, will continue.