As the founder and former richest man of Wanda Group, Wang Jianlin has recently faced a series of crises and challenges. Because the deadline for a VAM agreement is approaching, Wanda Group needs to pay 30 billion yuan to the VAM party. Under such pressure, in order to raise funds and solve the debt problem, Wang Jianlin had to sell off his best assets.
The latest news shows that Wang Jianlin has changed the owner's equity in Wanda Films, transferring it to the acquirer, and the transfer of equity is as high as 51%. Once the full transfer is completed, the acquirer will hold more than 65% of the shares and become the new controlling shareholder of Wanda Films. After this equity transfer, Wang Jianlin's current direct or indirect holding ratio is only 109%。
In addition to the news of the equity transfer, another piece of news that made Wang Jianlin feel relieved was the dissolution of the Zhuhai Wanda VAM agreement. Due to the entry of new foreign investors, Zhuhai Wanda once again sold 30% of the shares, and the original investors retained most of the investment while partially withdrawing, and abandoned the original VAM agreement. According to the original VAM agreement, if Zhuhai Wanda fails to successfully list before the end of this year, Dalian Wanda Commercial Management Group will need to pay about 30 billion yuan to buy back the investor's shares. However, after signing the new agreement, Wanda got rid of the default pressure of 30 billion yuan and obtained a longer preparation time for listing. What's more, Dalian Wanda still maintains a 40% stake and continues to hold a controlling stake in Zhuhai Wanda. This series of changes solved the immediate crisis for Wang Jianlin and sounded a thirst-quenching bell for him.
However, as the former richest man, why did Wang Jianlin fall into such a predicament?Although Wang Jianlin has 47 billion yuan of personal assets on the Hurun Wealth list, this does not mean that he can easily solve the pressure caused by the VAM agreement. First of all, although Wang Jianlin has a lot of personal assets, the company's liquidity is not sufficient. According to the law, the company's debts have nothing to do with the individual shareholders, and Wang Jianlin does not need to use his personal funds to repay the company's debts unless he personally provides a guarantee. Therefore, there is no direct relationship between Wang Jianlin's personal assets of 47 billion yuan and Zhuhai Wanda's debt of 30 billion yuan. Moreover, the 47 billion yuan of assets are not cash, but figures calculated based on Wanda Group's holdings and valuations, and its actual value may be greatly discounted. Therefore, even if Wang Jianlin is willing to use his personal assets to solve the problem, it will not be easy.
In fact, judging from Wanda's current net worth, it will not be a problem to deal with the 30 billion yuan VAM. However, selling assets at a bad price in the short term can lead to a bad overall price, which is why many shareholders are reluctant to take equity easily. Typically, they will obtain funds through staking, etc., to avoid the negative cycle of selling. Therefore, under the consideration of the interests of shareholders and the company, Wang Jianlin is facing a more complex situation.
For now, Wang Jianlin can breathe a sigh of relief for the time being, but there are still many similar VAM agreements in the market that threaten the founding shareholders. This type of VAM is commonly found in the field of private equity investment, which stipulates a certain period and conditions, and if the company fails to achieve the agreed target within the specified time, the founding shareholder needs to pay a certain amount of liquidated damages or buy back the investor's shares. Such agreements are seen as a means of risk control, which can both incentivize the founding shareholders to operate actively and protect the interests of the investors. However, the strict conditions of the agreement and the high liquidated damages put the founding shareholders under greater pressure and challenges.
In the current venture capital and venture capital boom, more and more entrepreneurs are signing similar agreements with investors. The existence of such VAM provides impetus for the growth and development of the company, but it also brings certain risks and challenges to the founding shareholders. In order to avoid falling into a similar predicament as Wang Jianlin, the founding shareholders should carefully consider the interests of all parties when signing the agreement, reasonably avoid risks, and accumulate strong strength and liquidity reserves in the course of business development to deal with possible crises.
As a giant and a model entrepreneur in the business world, Wang Jianlin's predicament has undoubtedly attracted widespread attention. The VAM issues and asset issues he faced highlighted the pressures and challenges behind entrepreneurs. However, both Wang Jianlin and Wanda Group as a whole are actively responding to the crisis while also making active efforts for its future development.
Through the observation of this series of events, we can see the dilemmas and choices faced by entrepreneurs on the road to business. They need to correctly understand the risks, reasonably plan the development strategy, seize the opportunities, and maintain the vitality and innovation of the enterprise. Only by continuously optimizing their own management and operations and cultivating core competitiveness can they be invincible in the highly competitive business environment.
In summary, the crisis facing Wang Jianlin is not an isolated case, and similar VAM problems are not uncommon in the business world. By in-depth analysis and understanding of this context, we can better understand the dilemmas and choices of entrepreneurs, resulting in a more comprehensive understanding of the business world. It is hoped that Wang Jianlin can continue to lead Wanda Group to a more brilliant future after experiencing this turmoil.