COFCO shares Niu Gensheng into the dairy, "zero
COFCO And Mengniu This "National Love", its impact continues to follow-up. The transaction amount of 6.1 billion Hong Kong dollars, to be "public good cow Development Association" (hereinafter referred to as "Old Niu Fund") cash in the Hong Kong dollar 955 million to do public charities are, indeed, generous. But wittingly or not, which resulted in the middle " Niu Gensheng 955 million cash into the Dairy The first rich "stories, so awful in China Food Industry of the largest transactions so far, seems to have some personal interest casts the color. In fact, the standard description, should be "Niu Gensheng into dairy 'zero-richest man'."
Under Mengniu Group The announcement in the Hong Kong Stock Exchange, the food groups and Magnolia Investment per share price of 17.60 Hong Kong dollars was 20.03 percent stake, "Silver Bull", "Taurus", "Old Niu Fund" (except on behalf of the holders of shares in Niu Gensheng name) of the equity ratio fell to 5.78%, respectively, 2.11%, 0, "ox fund" will transfer all the Mengniu shares, cash 955 million Hong Kong dollars.
"Cash cow funds" and "Niu Gensheng cash in" the same thing? Of course not.
Early 2005, Niu Gensheng with their families on donated all of the shares held in Mengniu, the Foundation created the cow. From the decision-making point of view, Niu Gensheng donated shares sales and no sales, not actually Niu Gensheng individual words, but by the collective decision-making council of the foundation cow. From the use perspective, the cash cow funds from the money, all for the good of society, and Niu Gensheng individuals have nothing to do. Niu Gensheng I July 8 meeting at the media, said the funds will be cash cow Foundation, all as a public charity of the capital investment, annual profit will be toward charity.
There is also a question: Why Niu Gensheng the donated shares did not step before the full access to ox Foundation, and some of it hung in his own name? The original, according to the new company law the relevant provisions of equity contributions, donation amount can not exceed 25% per year, so Niu Gensheng and family members donated the shares were divided into two parts: the part of the already owned by "Old Niu Fund" hold (this part in this and in the grain Cooperation Has been sold out, cash in 955 million yuan), while the other part of the completion of the actual donation, but still hanging in the Niu Gensheng personal name, that is held in the name of the current 3.96%. This part of the shares held in the name will also be in accordance with the requirements of company law, sub-classified as water buffaloes in the Foundation.
View of this, 955 million birth Niu Gensheng Dairy richest but a 'title party', not withstand scrutiny. Say richest man is also a 'zero-richest man'. "
Now we can look back ox Philanthropy Foundation do a simple process. From 2005 to 2008, the Foundation has been a cow with Niu Gensheng bonus shares are donated to charity causes, together with contributions from Mengniu's management, with an average of two 30 million yuan per year out to do charity cause. The donation came before a measure of the Niu Gensheng, are using the donated shares "market value" calculated; from July 2009 from the sale of shares, the shares owned by the donor "cow fund" held by that part of the become a "present value." It can be said that such cash, the essence of charity without any change in the capital occurred only a better, more transparent morphology.
The cash cow funds, both for shares in paving the way for food, but also in large part to solve the problem of expanding the scale of public interest is the "double benefit."
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