Weijian Shan Knihy

Money Games is a riveting tale of one of the most successful buyout deals ever: the acquisition and turnaround of what used to be Korea's largest bank by the American firm Newbridge Capital. Full of intrigue and suspense, this insider's account is told by the chief architect of the deal itself, the celebrated author and private equity investor Weijian Shan. With billions of dollars at stake, and the nation's economic future on the line, Newbridge Capital sought to become the first foreign firm in history to take control of one of Korea's most beloved financial institutions. In a proud country still reeling from a humiliating International Monetary Fund bailout in the Asian Financial Crisis, Newbridge Capital had to muster every ounce of skill, determination, and patience to bring the deal to closing. Shan takes readers inside the battle to win control of the bank--a delicate, often exasperating process that meant balancing the goals of Newbridge with those of the government, bank employees, and Korea's powerful industrial titans. Finally, the author describes how Newbridge transformed and rebuilt the struggling bank into a shining example of modern banking--as well as a massively profitable investment. In the secret world of private equity, few buyouts have been written about with such clarity, detail, and insight--and none with such completeness, covering not only the dealmaking but also the transformation and eventual exit of the investment. For anyone who has ever wondered how private equity investors strike bargains, turn around businesses, and create immense value--or anyone interested in a captivating story of high-stakes money-making--this book is a must-read

"Private equity deal making is often shrouded in secrecy. But one legendary dealmaker is happy to explain how a failing Chinese financial institution was transformed into a profitable one, without a single dollar of government support. During the Great Financial Crisis (GFC) of 2008, banks around the world, including in America, Britain, and Europe, were supported by government cash injections and guarantees. But there was one significant bank, deeply troubled before the GFC, that worked through that time to strength and success, without any government funding or financial guarantees. None. Where was this bank? In China. And, who controlled the bank and guided it during this extraordinary recovery? A US-based private-equity firm. How was all this possible? How was it possible that a US firm took on leadership of a Chinese bank? How did a good-sized national bank, troubled and weak before the GFC, become strong, healthy, and successful, without a single dollar of government support? How did the teamwork with Chinese regulators to implement a series of unprecedented steps? How did the private-equity process proceed, in China, once the bank was so successful, to realize very substantial benefits for its investors, in US dollars? And there's more -- all true, amazingly. A high-profile lawsuit filed in the US, involving a Chinese bank, a Taiwanese-=listed company, and of interest to the Chinese government at high levels. A board composed largely of Chinese businesspeople, with a US-based major shareholder and an American chairman, making rapid change"-- Provided by publisher