The Youngest Son of Sunyang - Chapter 138 The Last Struggle at the End of the Century 6

“Have you watched the news?”

“Yes. Is it about Wusung Group?”

“That’s right. The main creditors have reached out. Any intention to acquire…”

While contemplating how to broach the subject with Oh Sehyun, these words came out first! Could it be?

“No. They told us to choose from among our subsidiaries. Right now, the only places with available funds are foreign investment firms.”

“What’s the industry reputation like? Do we have any viable subsidiaries? I’ve heard they’re all struggling, labeled as accounting irregularities, or something like that.”

Starting with a seemingly negative opinion, Oh Sehyun also nodded.

“The visible debt alone is 3 trillion. It means all the subsidiaries are in a pile of debt. There’s nothing worth acquiring.”

“Not a single one?”

“I heard Wusung Shipbuilding has already received substantial orders. That seems to be the best option…”

“Uncle, did the creditors make some sweet offer by any chance?”

“How did you know? There’s no hiding anything from you.”

Seeing Oh Sehyun’s surprise, his grandfather’s cunning became more apparent.

“They promised debt reduction. They said if we’re interested, we should meet and negotiate. They’ll make sure we don’t incur any losses, so come with an easy heart.”

“That’s right. We won’t incur any losses.”

“What happened?”

Realizing that it was something already in motion, Oh Sehyun began to watch my mouth with a short sigh. “In fact…”

When I relayed the conversation with my grandfather without omitting anything, Oh Sehyun caught on.

“He pressured you with your aunt’s contract? Wow! He’s a really intimidating figure.”

“I don’t know if there’s a deeper meaning, but for now, we need to step up and seize the initiative.”

“Is it just a bluff, trying to test the waters?”

“Even after looking at that contract, my grandfather didn’t say a word. He’s not someone who wouldn’t realize that if the department store group falls into our hands, but there should be no issue if we proceed.”

“But throwing that contract at you is a pure threat.”

A threat indeed. To gain control of the department store group, the first thing that must happen is for my grandfather to put all his shares up for hostile takeover and hand them over to my aunt.

If this share transfer doesn’t happen, then I’ve made an incredibly foolish decision, lending forty billion with no collateral and providing complete after-service on a large mart construction, all as a big sucker’s move.

But this is not just a playful threat.

“My grandfather made the request in that manner. It also means that we should act as if he didn’t know we were taking over the department store group. Since we’ve received it, we should fulfill the request.”

“Not ‘we’ but ‘you.’ Let’s speak clearly, young man.”

“Alright, I’ll change my words. I will take over the department store. Uncle, you can acquire Wusung Shipbuilding, and then when you sell it to Sunyang Heavy Industries, you can make a tremendous profit, right?”

“And you’d give me all that profit?”

I knew it was a joke, but I answered seriously.

“Of course. Consider it a special bonus for the CEO.”

He’ll know from my expression that it’s not a joke at all. Oh Sehyun’s mouth remained tightly shut.

When was it that Oh Sehyun declared he would work for just five more years before retiring? To finish this job, the retirement timeline needs to be pushed back.

To keep Oh Sehyun a little longer, spending money is not a problem.

“Now, let’s stop being moved and deal with more urgent matters. The New Data Technology IPO is less than a week away, right?”

“Ah, well… yeah, that’s already prepared. The players are waiting. We’ll start buying gradually from the first day of trading. Within ten days, we’ll have as many shares as our funds.”

“When will the operational forces come into play?”

“They won’t come in initially. Anyway, there’s this thing called ‘listing buzz,’ so even if we leave it, the stock price will rise. They’ll only come in three weeks from now. We just need to secure the shares before that and decide when to sell.”

Oh Sehyun spoke while glancing at my expression. The surprise that had appeared on his face had disappeared by now.

“Are you really going to handle the acquisition?”

“Yes, we have to negotiate with our second eldest uncle anyway. He’s in charge of the heavy industry sector. It’s not going to be an easy opponent, is it?”

“Hmm…”

He stood up, avoiding the gaze that seemed to be checking if I was hiding something.

“I’m going to meet my grandfather. I need to give him the news that we’re proceeding with the Wusung acquisition.”

“Hey! Where are you going? I’m not done talking yet.” Leaving behind the shouting Oh Sehyun, I fled the office as if making an escape.

“Why? Don’t want to? Not interested?”

“No, it’s not that. It’s just a bit unexpected.”

“Unexpected? When a cheap and good opportunity comes along, catching it quickly is unexpected? It’s only natural.”

The notice arrived a month after Chairman Jin’s call. Upon hearing that he should take care of Wusung Shipbuilding, he was overjoyed.

He had confirmed that he would be responsible for the shipbuilding part and the succession process. This time, it wasn’t a trial or a test.

But when he heard about doubling the shipbuilding, he couldn’t help but be surprised. It could also be interpreted as having that much confidence in himself.

“But, Father, if we acquire Wusung Shipbuilding in our current position, I’m afraid it might cast doubt on the sincerity of the ongoing restructuring.”

The succession process is underway under the pretext of restructuring. Even the thorn-like labor union is ripe for dismantling on this occasion. It was a given that personnel cuts were necessary when the entire group was struggling, and societal empathy had also been established.

We can’t let this golden opportunity go to waste by acquiring Wusung Shipbuilding. It’s inconceivable to carry out an acquisition that requires a significant amount of money when the group is in a difficult situation.

“So we’re going to use a substitute. Let the substitute handle the acquisition, and when things settle down, we’ll take it over.”

Suddenly, the notice reminded him of someone.

“Is that substitute, by any chance, Miracle?”

“You know well. Currently, the only place that can mobilize that level of funds is foreign investment firms. Miracle also has a close relationship with us, so isn’t it appropriate?”