Subject: Re: Sinopac/BHR/Harvest
From: "Michael Lin" <[email-masked]>
To: "Biden Hunter" <[email-masked]>, "Archer Devon" <[email-masked]>, "Bulger Jim" <[email-masked]>
Cc: "Leonard Mike" <[email-masked]>
Date: Mon, 15 Sep 2014 00:11:26 +0800

BHR is on the official list announced by Sinopec as one of the 25 investors (See BHR as number 2 on the list. Sorry, no Eng translation): http://www.sinopecgroup.com/group/xwzx/gsyw/20140914/news_20140914_674115581102.shtml?from=timeline&isappinstalled=0

Other Eng reports: 

http://www.marketwatch.com/story/sinopec-to-sell-almost-30-of-sales-and-marketing-unit-2014-09-14-101035446?siteid=rss&rss=1

https://in.news.yahoo.com/sinopec-sells-17-5-billion-stake-retail-unit-144209677--sector.html

http://finance.yahoo.com/news/sinopec-sells-17-5-billion-144209512.html;_ylt=AwrTWVVcvBVUmlAA4KLZuYlQ

发自我的 iPhone

> 在 2014年9月14日，21:04，Michael Lin <[email-masked]> 写道：
> 
> Gentlemen,
> 
> BHR was granted a quota of investment of RMB6 billion (roughly close to USD1 billion) and Harvest RMB15 billion (about USD2.5 billion). 
> 
> For BHR, J will have a time window of 1 month to raise that investment money.  J and Andy will bust their asses to come up with the money from China and HK investors they've been talking to.  My guess is that, given a goldmine-like investment transaction like this, they will be able to raise some good money from Chinese institutions even though I'm not too sure that the total of RMB6 billion will 100% be raised in Oct. 
> 
> For a investment deal like this in China, I don't think BHR will be able to charge 2% or 2.5% regular annual management fee.  Maybe, 1-1.5%, tops.  As for carried int, J will still have to conduct tough nego with potential investors. 
> 
> The above said, I must agree it's a good start for our BHR if and when a good part of the RMB6 billion investment money is successfully raised. 
> 
> Thanks,
> 
> Michael
> 
> 
> 发自我的 iPhone
>> 在 2014年9月14日，19:47，Michael Lin <[email-masked]> 写道：
>> 
>> A piece of old news in Aug talking about this goldmine business of Sinopec:
>> 
>> Sinopec Shortlists 37 for Stake Sale in ‘Gold Mine’ Retail Unit
>> www.bloomberg.com/news/2014-08-25/sinopec-says-37-companies-on-shortlist-for-retail-unit-sale.html
>> China Petroleum & Chemical Corp. (386) shortlisted 37 potential buyers as Asia ’s biggest refiner seeks to sell a third of its retail unit to raise about $16 billion.
>> 
>> 发自我的 iPhone
>> 
>>> 在 2014年9月14日，19:34，Michael Lin <[email-masked]> 写道：
>>> 
>>> Sinopec Sells $17.5 Billion Retail Unit Stake to Investor Group
>>> www.bloomberg.com/news/2014-09-14/sinopec-sells-17-5-billion-retail-unit-stake-to-investor-group.html
>>> China Petroleum & Chemical Corp. (386) , Asia’s top refiner, agreed to sell a 29.99 percent stake in its retail business for 107 billion yuan ($17.5 billion) to a group of...
>>> 
>>> 发自我的 iPhone
>>> 
>>>> 在 2014年9月14日，19:29，Michael Lin <[email-masked]> 写道：
>>>> 
>>>> Sorry, it should be Sinopec. 
>>>> 
>>>> 发自我的 iPhone
>>>> 
>>>>> 在 2014年9月14日，19:26，Michael Lin <[email-masked]> 写道：
>>>>> 
>>>>> Gentlemen,
>>>>> 
>>>>> It was just officially announced a couple hours ago that our BHR together with Harvest Fund was approved by Sinopac to join the investments in the restructuring of its sales and distributions business. This must be The Deal Of The Year in China. I suggest that you gents all write a congrats or thank you letter to Jonathan cc Andy and me. 
>>>>> 
>>>>> I'll try to id an Eng report for you if there's any at this moment. 
>>>>> 
>>>>> Bravo!
>>>>> 
>>>>> Michael
>>>>> 
>>>>> 发自我的 iPhon