Tesco
Money Machine
Book

Money Machine

A Trailblazing American Venture in China

Weijian Shan
Wiley, 2023

Read or listen offline

  • 0.5×
  • 0.75×
  • 1×
  • 1.25×
  • 1.5×
  • 1.75×
1×

Editorial Rating

8

Qualities

  • Background
  • Engaging
  • Insider's Take

Recommendation

In 2002, as Beijing was opening the Chinese economy to the world, the US private equity firm Newbridge Capital received an offer it couldn’t refuse: a controlling stake in Shenzhen Development Bank, a troubled but promising Chinese financial institution. Weijian Shan, the Newbridge executive in Hong Kong who fielded the proposal, tells the twisting tale of negotiating with government officials who constantly changed goals, and of warding off rival factions that sought to sabotage the deal. Shan’s story is compelling and replete with lessons on how business really happens in China.

Take-Aways

  • In the early 2000s, China’s banking sector faced high levels of bad loans.
  • Newbridge Capital negotiated the purchase of Shenzhen Development Bank (SDB) with local officials.
  • Negotiations between buyer and seller proceeded in fits and starts.

About the Author

Weijian Shan is a co-founder and executive chairman of PAG, a leading private equity firm in Asia. He previously was a partner at private equity firm TPG, formerly known as Newbridge Capital. He also was a partner at JP Morgan and a professor at the Wharton School.

Comment on this summary or Comenzar discusión