The Suning Commerce Group

[firmino]

#wearesorich

I see you are from Hong Kong. Can you tell us something about this investment fund? I mean, anything that one couldn't simply find googling

 

[darsez]

I see you are from Hong Kong. Can you tell us something about this investment fund? I mean, anything that one couldn't simply find googling

interestingly, I didn't see anything from the local Hong Kong media. I only learned about LionRock Fund from this forum and from googling. What I can say is the name "Lion Rock" is a symbol of Hong Kong (it refers to a mountain in Hong Kong and the shape looks like a lion sitting on the top). The founder of LionRock looks more connected to Hong Kong than to China (as opposed to Jack Ma).

 

[firmino]

gazzetta confirms that Lion Rock is the investment fund and that they are buying thohir's Inter stocks for around 150 million euros. they also hint at possible new scenarios regarding the stadium: they claim that in suning and lionrock's plans, rather than restructuring san siro, the preferred option is to build a new stadium in the same area. they also claim that in february there might be announcements on the matter. for now google translation will have to do.


https://translate.google.com/transl...capital-nuovo-socio-suning-320436146194.shtml

 

[Michael]

LionRock Capital, already a partner of Suning Sports, reportedly planning to buy Thohir's 31% and build new stadium in San Siro area

From Jakarta to Hong Kong, under the supervision of Nanjing. Almost a third of Inter will move from an Asian megalopolis to another. The 31% of Erick Thohir is about to change hands and we are at the final stage. Suning has found a new partner, which could give a new and exciting acceleration to the growing process of Inter, especially the stadium. This new investor comes from the Special Administrative Region of China and all indications and clues lead to LionRock Capital.

This is an investment fund based in Hong Kong founded in 2011 by Daniel Kar Keung Tseung, a Sino-American businessman born in 1971, studied in the United States at Princeton and Harvard and already has 25 years of experience in the business world in the Chinese and Southeast Asia region. LionRock Capital invest primarily in sports, e-commerce, food and medical sectors (but in their portfolio, there are also an online taxi startup and a real estate company in Jangsu) and self-describes as a company that aims to “establish long-term relationships and able to create value” with management of those which it invests in.

LionRock already has an important partner with Suning Sports, the sport branch of Zhang’s creation. This relationship with boss Jindong seems to be solid and profitable and Inter are the new step in this partnership. The investment of LionRock should be around €150M. There is great harmony between these two companies with which they can make long-term plans that could soon unlock new phase of growth. The project on top of their list seems to be the stadium: already in the month of February, the club intends to take decisive steps in this direction.

The current and preferable is no longer fixing up the San Siro, but to build a brand new stadium in the same area. Adding a modern facility has always been one of the indications of Steven Zhang, president since October 26th. He once again reaffirmed the ambitious projects at the Suning convention ongoing in Nanjing: “I want to realize the dream of millions of Inter fans: to return to the top of Europe. And at the same time demonstrate through this team’s success the vision and ability of modern Chinese companies internationally.”

This meeting is to celebrate a positive year for his father’s company: in a year of shrinking growth for the Chinese economy, Suning exceeded its objective and opened 8000 new stores. Jindong celebrated the company’s success by announcing that he wanted to “rejuvenate” management. He also celebrated Inter: “We are back to the limelight. In less than two years, we achieved what the fans dreamed of in six years: the return to the Champions League. Inter are building a new period of glory.” The new partner, another “Lion”, just like the logo of Suning, will help Inter to roar even louder.

WHO IS DANIEL TSEUNG? Loves Jeremy Lin and has positive connection with the Chinese government

International by definition, for over 110 years. And soon, the history of Inter will once again be confirmed thanks to a new minority shareholder. LionRock Capital is headquartered in Hong Kong, a former British colony, now a Special Administrative Region of China, which has always been a meeting point between East and West. The investment fund will acquire 31% of Inter which is still held by Erick Thohir and it is founded by Daniel Kar Keung Tseung whose business connects China and the United States, further expanding horizons.

Tseung, moreover, studied in the US and not just at any university: Princeton and Harvard. Today, he is 47 years old but SEC (US Securities and Exchange Commission) has traces of him on the board since 2004. He started with investment funds as early as the 1990s, but in his career, he was on board of directors of several companies such as the Chinese equivalent of Starbucks in Gourmet Master, a building materials supplier in Ohio named Owens Corning, but also e-learning companies that helped train Beijing’s top state executives (Chinacast Education Corporation). This last experience confirms that, despite “western” profiles on social media, his relationship with the Chinese government is positive: almost a necessary condition to do business in the Asian country. He is a Protestant Christian, married with two daughters, one in elementary and the other is just a bit younger. He is fond of tennis and a fan of Jeremy Lin, NBA player of Asian origin who had a couple of great seasons.*

His fund invests in established companies but also in startups: the idea, which will please Inter fans, is that LionRock loves to see the companies that it invests in grow by pumping in necessary capital. Founded in 2011, the fund has a small structure of 27 employees, recored a profit of $5.4M in 2018 and has Karen Lai as director of investments. Their headquarters is in Hong Kong but has a sister company in the Cayman Islands. In Europe, LionRock has investment in Hailo, a taxi company (also present in Italy). In sports, the most important partnership is with Suning Sports and Inter are the first football club in its portfolio.

When everything is closed with Thohir, there will be room for Tseung and/or one of his men to enter Inter board of directors. The plans for the future, with a brand new stadium on top of the list, will be discussed with the Hong Kong partners beforehand. To renovate the Meazza, but also to build a new stadium in the same area (this is the favorite option), they need capital, investment and a partner in full harmony. And the ties between Tseung and Zhang have become sufficiently close in these years.

 

[CafeCordoba]

If even half of those predictions regarding LionRock plans with Inter is true, this is just like I hoped for. Million times better than Thohir who didn't want to do shit. Now Suning + LionRock can invest safely, because they can coperate and have a same motives regarding Inter (at least from the outside).

 

[.h.]

so what happened to all the shit people were giving me when they thought it was jack ma

 

[CafeCordoba]

Who gives a fuck?

 

[.h.]

cuz its good to keep the level of retardation in check, otherwise we'd be milan fans.

 

[Universe]

Cayman Islands

 

[GenDire]

cuz its good to keep the level of retardation in check, otherwise we'd be milan fans.

Actually the Jack Ma post here was pretty well argued and sounded credible, so much so that the media started spinning the same story shortly after

 

[.h.]

Actually the Jack Ma post here was pretty well argued and sounded credible, so much so that the media started spinning the same story shortly after

Just because we wanted it to be true, and someone from China has an office in Hong Kong, doesnt really make it credible to be honest.

In fact it was such a ridiculous notion that Inter had to come out directly and deny it outright - when was the last time we had to do that?!

 

[Devious]

Pimp 0 (disallowed goal via VAR) - Browha 1

 

[.h.]

LMAO that's what's on was looking for

 

[Palacio]

Would Jack Ma's involvement change anything for Inter?

 

[.h.]

I dont know. He's already involved in a derivative sense. From things like an ownership structure it wouldnt really make sense for him to directly buy Inter shares either.

To be blunt, though, it gets a bit arbitrary/. The world is his oyster at that point in time - he could through hundreds of millions at us, or do a Thohir, or whatever he wanted. Its pure (pointless) speculation

 

[JJM]

Who cares we still gonna lose against Sassulo even if the richest people own this club because we gotta respect FFP and gonna play the least talented midfielder I have ever seen... Vecino(past 90 min doesn't count)

 

[Delicate]

I was waiting for Il Sole 24 Ore insights (much more credible than Cds, of course).

There are news, and what's new, about the negotiation for the sale of 31% of the shares of Inter owned by Erick Thohir to the Lion Rock group. The fund seems to be linked to Suning, as Il Sole 24 Ore writes today: "In reality there would be no new third-party investor ", reports the newspaper: "Daniel Kar Keung Tseung is in particular only the manager of the company Lion Rock, but the capital is not his own.The new investor would always be the expression of Suning and Zhang Jindong 's family : in short, the share would still be in very friendly hands to the point that the same Lion Rock Capital, in case he had to close the operation, it seems underwritten from the founders of Suning ".

So, effectively, Suning becomes 100% owners of Inter, just pouring money via other entity. No Jack Ma, no any other, but Jindong's money through Hong Kong office.

 

[.h.]

it doesnt really make any sense to structure us that way, to be honest. If its the case, then fine, but why

 

[Palacio]

it doesnt really make any sense to structure us that way, to be honest. If its the case, then fine, but why

Isn't it easier to sell Inter if there is only one owner?

 

[.h.]

Isn't it easier to sell Inter if there is only one owner?

if zhang wanted to buy out inter, he should just do it directly. If he wanted a partner to be invested, they're better off to buy 31% of our holding company and the holding company is 100% ownership of Inter (for example).