Chapter 279 - Chapter 279: Chapter 279: Core Assets (1/2)

Chapter 279: Chapter 279: Core Assets

The initial auctions weren’t anything special; it was mostly a matter of everyone taking what they needed without much struggle, but as the auction progressed, the core assets came up for sale.

One business club was eventually sold for ten billion more than its starting price.

Located right in the city center and with booming business, the venue would create enormous profits for whoever took over.

When this asset was put on the block, even Daoist Boy couldn’t help but feel envious. Owning such a business club would make hosting guests or conducting other business much more convenient in the future.

However, Chen Yu remained calm. After all, the business club was too large for him to manage on his own, and Tong Ming already had several of similar size—worst case, he could just borrow one temporarily.

Chen Yu exhaled a deep breath and kept his eyes fixed on the large screen on the stage.

The assets up for auction next were the large buildings opposite him.

But when the price was announced, Chen Yu was momentarily stunned.

Those buildings required a bid of a hundred and ten billion!

Chen Yu was troubled. He couldn’t come up with that kind of money with the assets he controlled, unless he mortgaged the entire industrial park he had just built to secure a loan for these buildings.

But now, the industrial park had just started flourishing, and business at the factories was booming. If he mortgaged the park at this critical time, it would have a negative impact.

If he ever really got to the point where he had to take out loans, then it would be troublesome.

“How about it, son-in-law, shall I give you a hand?”

Chen Yu felt a bit awkward, not sure what to say, but right now he was indeed in urgent need of money.

“If you could, I’d be much obliged; I’ll pay you back!”

Tong Ming laughed heartily. “You’re too polite!”

With that, he raised his bidding paddle.

As soon as Tong Ming made a move, the venue fell silent.

Everyone knew that the Tong Family was the wealthiest of the four super-rich families in the capital and that the buildings in question were right across from their son-in-law’s!

Understanding this relationship, no one dared to bid anymore.

Some even looked at Tong Ming uncertainly, tentatively raising their paddles, but when they caught his gaze, they lowered them again.

In recent times, Tong Ming’s developments in Suzhou City had been extremely smooth, virtually monopolizing half of Suzhou’s financial landscape.

No one in Suzhou City dared to oppose Tong Ming.

Chen Yu also let out a sigh of relief; with his father-in-law present, if he had been bidding alone, the price might have skyrocketed to over two hundred billion.

The auctioneer was clearly embarrassed, but he didn’t dare to say more. He looked around the room, counted to three, and then hammered the gavel.

The buildings, which had substantial commercial value, were sold for a hundred and eleven billion, which would have been an extraordinary event at any auction.

Just as Chen Yu was getting excited, a large map was brought onto the stage by several men.

It was a map of the Suzhou City industrial development park, a large portion of which depicted Chen Yu’s industrial park.

The assets now up for sale were several factories owned by Wu Zhonghe. Although these factories were not contiguous, each one was extremely large on its own.

Moreover, over ninety percent of the equipment in these factories was new, ready for production immediately after take-over.

The venue erupted into a buzz of excitement; such assets were considered high-quality, and they were worth splurging on.