June 20 news, at the beginning of this year, Le Shi was caught in a mudlock in the capital chain. In mid-June, LeTV announced that it would sell Shimao Gongsan’s news for a price of 4 billion yuan, and the disk leader was Vanke. Recently, it was reported that the two sides had collapsed on the deal of Shimao Gongsan, because Vanke’s quotation was only 2 billion yuan.
According to the Economic Observer Online, on June 2nd, creditors gathered at Leshi Building and LeEco CFO Zhang Jian discussed with creditors on LeTV’s repayment of supply funds. Zhang Hao believes that if the Shimao Gongsan III commercial project is successfully sold, bank runs and suppliers’ arrears will be resolved, and some banks can continue to lend money to LeTV. As long as LeTV's business develops steadily, LeTV’s funding problem can be solved.
According to public information, the construction area of ​​the Shimaogongsan commercial project held by LeTV is 50,000 square meters, the lease area is approximately 26,000 square meters, and the daily passenger flow is approximately 25,000. In May 2016, Levision Holdings acquired 100% equity interest in Beijing Wealth Times Real Estate Co., Ltd. and Beijing Baiding New Century Business Management Co., Ltd. from Shanghai Shimao, thereby gaining commercial assets from Shimao Plaza. At that time, the total consideration for the transaction was about 2.972 billion yuan.
In November 2016, LeTV pledged the shares of the two companies to China CITIC Bank, financing about 2 billion yuan. If the three projects are sold for 4 billion yuan, depreciated charges and costs will be deducted, and LeTV may obtain more than 1 billion yuan of its own funds. If we accept Vanke’s 2 billion yuan price, LeTV will lose more.
Therefore, when Vanke reported to LeTV a psychological price of less than 2 billion yuan, LeTV said that it was not willing to sell at a low price and the negotiations were terminated.
Vanke informed sources said: “The Shimao III project is in a good location and is located in a bustling commercial area, but the project also has favorable factors. First, after the implementation of the 326 New Deal in Beijing, the commercial project is generally sluggish. LeTV’s search for Vanke is after the 326 New Deal. The second is the nearby Taili in Sanlitun and Bar Street siphon effect is obvious, in order to reactivate Shimao III, the difficulty is very large; Third, did not see Leshi in the third project of the commercial transformation and upgrading work, so can not understand suddenly Added value of 1 billion yuan." (Duanzi)
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