In early 2008, Tianchao companies still had very few acquisitions overseas. If they were to go through ten years, various acquisitions would become commonplace.

When the news that Guanghui Auto and Ford Motor officially signed an agreement to acquire Jaguar Land Rover was sent back to China, the response caused far exceeded everyone's expectations.

At the same time, the number of visits to the daily headlines that reported this news for the first time and received exclusive live pictures has been rapidly increased, whether it is the downloads on the APP or the website.

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New York Times: Dearborn, Michigan, USA, January 9: Ford Motor Company and Glory Motor jointly announced today that Ford Motor Company has signed a final agreement to sell its Jaguar Land Rover business to Glory Motor.

Ford Motor Company has been seeking strategic solutions for its Jaguar Land Rover business since the beginning of last year, and the deal represents Ford's final decision.

The transaction is expected to be completed before the end of this month, and relevant transaction conditions are still required, including approval from regulators.

If the transaction is successfully implemented, Guanghui Automobile will pay approximately US$2.5 billion for acquiring Jaguar Land Rover's business, and then Guanghui Automobile will inject US$500 million into Jaguar Land Rover's new model development plan...

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“Jaguar and Land Rover are two great brands,” Allen Mulally, president and CEO of Ford Motor Company, said in an interview with the Detroit Automobile. “We believe that under the leadership of Glory Auto, these two brands will continue to carry forward their existing excellent products, business plans and elite teams.

Ford will focus on integrating the Ford brand globally in an effort to build a stronger Ford Motor Company and achieve profitable growth.”

"As part of the transaction, Ford will continue to provide Jaguar Land Rover with power systems, stamping parts and other vehicle accessories at different stages, and will also provide various technologies, such as environmental protection and platform technology. Ford also promises to provide engineering support including R&D, as well as information technology, accounting and other services, etc.."

"At the same time, during the transition period, Ford Auto Credit will continue to provide financial services to Jaguar Land Rover dealers and customers. The service duration will vary from market to market, with a maximum of no more than 12 months."

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“This is a win-win agreement that ensures that Jaguar Land Rover’s management and employees can continue to devote their energy to business development and achieve optimal business results,” said the head of Jaguar Land Rover’s business unit. “I am very confident that Jaguar and Land Rover will continue to consolidate the significant progress and product successes achieved in recent years under the leadership of their new owners.”

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Although Daily Toutiao first reported on the news that Guanghui Automobile acquired Jaguar Land Rover, everyone was still skeptical about this news, so there were not many major media reprints, but there were a lot of reports in the United States.

However, this situation changed soon.

Guanghui Auto updated a message on its official Weibo: Jaguar Land Rover will become an important part of Guanghui Auto's business, and we are very pleased that this is. We respect these two brands very much and will strive to carry forward their brand traditions and competitiveness while maintaining their original brand characteristics. We support Jaguar Land Rover's business growth and hope that the management and employees of the two brands can use their rich experience and professional qualities to achieve business growth.

At the same time, Jiang Hui also posted a Weibo: Guanghui Group's entry into the automotive industry is definitely not just a joke. I believe that the perfect combination of Guanghui Group and Jaguar Land Rover will definitely create miracles.

As soon as Guanghui Auto and Jiang Hui’s Weibo was released, no one in the domestic media doubted the authenticity of the daily headlines. Immediately afterwards, the phone number announced by Guanghui Group and Guanghui Auto was blew up.

People who were familiar with each other quickly called Zeng Qingying, Pi Wei or Guan Weidong. Some people who didn’t know about Guanghui Group had to make some official calls.

Even the customer service phone numbers of the following companies of Guanghui Group were blown up, and many media that could not contact the right candidates wanted to try their luck with the customer service of other Guanghui Group's affiliated companies.

This chaotic scene is almost affecting the normal operations of various companies. Faced with this situation, Jiang Hui, who had just returned from the United States, organized a simple press conference in Beijing as soon as he got off the plane.

As the place where the emperor is the best, the imperial capital is the city with the most media. As long as the media in other provinces are on the table, they basically have offices or journalists in the imperial capital. Therefore, although the press conference of Guanghui Group was arranged in a hurry, there were not many journalists at all.

The first floor of Guanghui Building is a lobby for press conferences, which is crowded with at least four or five hundred media personnel.

"Thanks to all media friends for their concern and support for Guanghui Group. I know what you want to know most now, so I won't talk nonsense."

The press conference was hosted by Zeng Qingying, attended by Jiang Hui, Kato, Pi Wei, Guan Weidong and others.

"After more than a year of negotiations, on the morning of January 9, US time, Guanghui Auto officially signed an agreement to acquire Jaguar Land Rover with Ford Motor. Guanghui Auto won the victory of this negotiation with US$2.5 billion in cash and US$500 million in R&D investment. We will pay 200 million in acquisition amount within three days after the agreement is signed, and the remaining US$100 million in the next three months," said Zeng Qingying.

"Next, if you have any questions, you can raise your hand. President Jiang of our group will personally answer them." Zeng Qingying said, looking at the dark crowd of people.

Just as Zeng Qingying finished his words, he raised his arms below, including men and women, black and white. The attendees of this press conference were not just reporters from the Celestial Empire.

"Well, this beautiful girl from the Tianchao Youth Daily, come first." Jiang Hui saw Xiaoguan standing in front of the team and gave her this opportunity to ask the first question.

For Jiang Hui, the same question is answered by everyone, and the questions they ask in the end are almost the same. Since that is the case, it is better to sell a favor with someone.

At that time, Chen Yanping, Xiao Guan and others helped Jiang Hui and were considered the benefactors of Guanghui Group.

"Hello, Mr. Jiang, I am a reporter from Tianchao Youth Daily. I want to ask three questions." Although Xiao Guan and Jiang Hui are very familiar with each other, they still pretend not to know each other on such occasions.

"Please tell me," Jiang Hui didn't mind Xiao Guan asking a few questions, but he would answer them anyway.

"The sales of Jaguar and Land Rover in recent years have not been satisfactory. Judging from the United States alone, Jaguar's sales fell sharply from more than 60,000 in 2002 to 15,000 in 2007. No other car company has dropped nearly 75% of sales as miserably as Jaguar.

Land Rover's situation is slightly better, and its sales in 2007 increased compared with 2002. However, its front is still unclear because its main model is V, and the continuous rising oil price is its biggest competitor. It can be said that these two brands are both a burden for Ford. Why is Guanghui Auto willing to accept this burden?" Xiao Guan asked.
Chapter completed!