The list shows that she is the ex-wife of Yuan Jinhua, a senior vice president of Sany Heavy Industries, who received shares of Sany Heavy Industries after her marriage to Yuan ended.
Some people have jokingly called this the “most expensive” divorce in the A-share market.
The company’s first divorce was in the United States, where it is still ranked 333rd on the rich list with a wealth of 3.58 billion yuan.
What’s special is that the dissolution of this marriage, which involved a huge amount of property division, was extremely low-key, and the smooth delivery of wealth was in stark contrast to some entrepreneurs’ divorce cases, which were so heated that they affected the listing of their companies.
“Ex-wife’s $2.2 billion fortune restored
On July 3, 2003, Yuan Jinhua was thrilled.
The company’s first share was issued at 15.56 yuan per share, with a total share capital of 240 million shares, raising 7.2 billion yuan.
Yuan Jinhua and Liang Steigen, Tang Xiuguo, Xiang Wenbo and Mao Zhongwu started their business in the 80s, starting from a welding material factory, until they co-founded Sany Group in 2000, with Yuan Jinhua taking 8% of the shares when the group was established. Sany Group is the controlling shareholder of Sany Heavy Industries, which held 173,809,300 shares of its stock at the time of its IPO, with a shareholding of 96.56%, diluted to 56.38% by the end of 2011.
However, Yuan Jinhua’s family is in crisis. The prospectus of Sany International (00631.HK) disclosed that in June 2005, Yuan Jinhua transferred 3% of his 8% stake in Sany Group to his ex-wife Wang Haiyan. The term “ex-wife” suggests that the two were probably divorced by June 2005, but the exact timing is not available in public sources.
September 2008, Yuan Jinhua transferred his 0.25% stake in Sany Heavy Industries to Liang Steigen, the de facto controller of Sany Group, for a nominal consideration of $1. As a result, Yuan Jinhua holds 4.75% of the shares of Sany Group and Wang Haiyan holds 3%.
It is thanks to the transfer of 3% of Sany Group’s equity that Wang Haiyan has a huge fortune. Sany Group not only controls two listed companies, Sany Heavy Industries and Sany International, but also holds a number of companies.
Wang Haiyan’s wealth is made up of three parts: Sany’s outstanding shares and restricted shares, and Sany International shares.
The 2011 annual report shows that Sany Group holds 4,281,311,012 shares of Sany Heavy Industries with unlimited sale conditions. If we take the closing price of Sany Heavy Industry of 12.54 yuan on December 30, 2011, the market value of Wang Haiyan’s 3% shares is about 1.61 billion yuan. If we take the closing price of 14.03 yuan on May 17, 2012, the market value of Wang Haiyan’s shares in it is about 1.802 billion yuan.
Just one month after the transfer of shares from Yuan Jinhua to Liang Steigen, Sany Heavy Industries issued shares to specific targets (Yuan Jinhua and Wang Haiyan, among other natural persons) to raise funds to purchase assets valued at 2.2 billion yuan, 100% of Sany Heavy Machinery Investment Co. Through this transaction, Yuan Jinhua, Wang Haiyan ranked among the top ten natural shareholders of Sany Heavy Industry restricted shares. With the implementation of Sany’s share dividend, their shares reached 25,668,519 shares and 16,211,696 shares respectively at the end of 2011. If calculated according to the closing price of Sany Heavy Industry on December 30, 2012 at 12.54 yuan, Wang Haiyan holds about 203 million yuan of Sany Heavy Industry’s restricted stock market value; if estimated at the closing price of Sany Heavy Industry on May 17 at about 14.03 yuan, about 220 million.
Since then, Sany International has been successfully listed on H-shares, and Yuan Jinhua and Wang Haiyan hold 4.75% and 3% of the equity of its controlling shareholder, Sany BVI, respectively. 2011 annual report shows that Sany BVI holds 72.29% of the equity of Sany International, totaling 2.25 billion shares. If calculated based on the December 30, 2011 closing price of HK$6.33, $0.81 exchange rate of Trinity International, the total price of Wang Haiyan shares is $346 million; and the latest May 17 closing price of HK$5.38, $0.81 exchange rate, is $294 million.
The three parts add up to $2.159 billion if you calculate the stock price at the end of 2011, and if you estimate the stock price on May 17, it has increased in value to about $2.316 billion. And that statistic doesn’t include the value of the unlisted companies in Sany International Holdings.
Yuan Jinhua and Wang Haiyan’s past
Born in 1959 and 1958, respectively, Yuan Jinhua and Wang Haiyan both lived and worked in Lianyuan, a city in the Loudi region of Hunan province.
In 1982, Yuan Jinhua returned to Hunan after receiving his bachelor’s degree in engineering from Harbin Institute of Technology and stayed to work at Hunan Hongyuan Machinery Factory. Wang Haiyan, on the other hand, studied medicine, preparing for a future as an obstetrician and gynecologist.
The opportunities of reform and opening up in the 1980s made waves in the family, and their lives began to drift apart.
In the mid-1980s, Yuan met Liang Steigen, Tang Xiuguo and Mao Zhongguo, who worked in an enterprise of the former Ministry of Armaments Industry, and became close friends. In June 1989, Yuan, Liang, Tang, and Mao, with 60,000 yuan of scrap money, founded the Lianyuan Welding Material Factory, the predecessor of Sanyi Group.
For more than a decade, as one of the founders of the group, Yuan Jinhua was a director of Sany Group, chairman of Sany Heavy Machinery, and senior vice president of Sany Heavy Industries. Sany Group’s Sany Heavy Industries and Sany International were also listed in 2003 and 2009 respectively.
Just as Yuan Jinhua’s identity changed dramatically, Wang Haiyan’s public identity since February 1989 has always been as an attending physician in the Department of Obstetrics and Gynecology at Lianyuan City Maternal and Child Health Hospital, and she has not held any positions in Sany Group’s companies.
However, when the reporter contacted the obstetrics and gynecology department of Lianyuan City Maternal and Child Health Hospital on May 17, the doctor of the department said that there was indeed such a person, but she had not come to work for a long time, and the head nurse, who had worked for more than 10 years, had not seen her.
A person who knew Yuan Jinhua said he had the impression that Yuan Jinhua lived a simple life, with the habits and temperament of an authentic Xiangzhong farmer, without the style of a playboy. Another person recalled that Wang Haiyan has attended Sany’s annual shareholders meeting every year in recent years, sitting with the company’s executives, but has never spoken out.
Panel of the 6 most expensive divorces ever
Prep #1: £5.5 billion (about 70 billion yuan)
The main characters: Abu and Irina
Abu is ranked the 11th richest man in the world, with $8 billion in cash assets, in addition to his countless mansions. These include the £18 million Fearing Hill villa in West Sussex, England, the £29 million Kensington penthouse, and the £15 million home of the Duke of Windsor in France. This is in addition to an 11 million five-story villa and an 18 million six-story mansion near Hyde Park, London. He also has properties in France and Moscow worth £10 million and £8 million respectively.
In terms of transportation, Abu has numerous yachts, including the £72 million Compass, another cruise ship, the Ekstasi, also worth £72 million, with its own swimming pool, and the Blue Giant, worth £1 million. The “Blue Giant” is worth £60 million and is usually lent to Abu’s men. His fourth yacht is under construction and is reported to cost up to £100 million. Abu’s private jets include a $56 million Boeing 767, a $28 million Boeing business jet and two helicopters worth £35 million.
Even so, there are still media comments that the biggest task for Ilana to divorce Abu is to determine the list of Abu’s assets. Because everything about Abu is shrouded in mystery, many of his secret businesses are rarely known, even by the wife he once shared his misery with.
Characteristic:
This case is still in its “infancy,” but its distinctive features are clear: if Ilana’s claim is upheld, it will set a new record for the world’s most expensive divorce case. The company has also lost half of its family fortune, and it would be hard to assess whether its industry will be as successful as it was in the past.
Second place $3 billion
Heroes: Sumner Redstone and Felice
In 2002, Sumner Redstone, the 83-year-old iron-fisted boss who had fired Tom Cruise, got divorced.
Sumner Redstone, the 83-year-old iron-fisted boss who fired Tom Cruise, divorced in 2002, at the cost of $3 billion in “alimony.
Samner Redstone is the owner of Via, a media giant that owns mtv, Paramount Pictures, Simon & Schuster, and at least $6 billion in assets.
In 2002, his wife, Phyllis, filed a divorce suit in a Boston court, asking her husband to pay $3 billion in damages as a condition of agreeing to end their 52-year marriage. In the divorce complaint, Felice accused her husband of adultery and abuse.
And Redstone was ready before the divorce because his wife was “overwhelmed with evidence” and he was happy to give up a lot of money for his freedom.
Characteristic comment:
This old florist, who also gave away half of all his assets, doesn’t seem to be suffering. Shortly after the divorce, Redstone married 42-year-old Paula. Fortunato.
Third place: $1 billion
Heroes: Murdoch and Anne
In 1998, Murdoch’s marriage to Anne Murdoch, seen as a mythical marriage, came to an end. And of the $12 billion family fortune they had accumulated together over the past 31 years, Anne received only $1 billion.
Evaluation:
In April 1998, Murdoch announced his decision to divorce. Anne gave up her right to an equal share of the tens of billions of dollars in property and took only $1 billion, but attached a harsh condition to the divorce settlement – after Murdoch Sr. died, Deng was not entitled to inherit any of his estate unless she was able to have children after marriage; the four adult children would then receive a controlling interest in News Corp.
The Murdochs’ divorce was finalized on June 8, 1999, and 17 days later Murdoch and Wendi Deng were married in a secret ceremony on his yacht.
Characteristic comment:
The settlement of this divorce case appeared to be calm, but it set the stage for the subsequent fight over the Murdochs’ estate, with Anne saying that she had no choice but to give up the division of her property for the future of her children. So, more drama was played out in the middle of the Murdoch estate battle.
Fourth place: £200 million
Principals: Paul McCartney and Heather Mills
Former Beatle Paul McCartney’s divorce from wife Heather Mills has been the subject of much debate. The divorce lawsuit between former Beatles member Paul McCartney and his wife, Heather Mills, has been in the spotlight, and the issue of property division has been a major concern for many. McCartney has more than £800 million in assets, and his marriage to his 38-year-old wife, Heather, lasted just four years, and they did not sign any prenuptial agreement, so Heather is aiming for a quarter or more of McCartney’s assets.
While the courts were already hearing the divorce case, McCartney and Heather each paid heavily for the two prominent lawyers who fought the divorce case between Crown Prince Charles and Princess Diana 10 years ago.
McCartney and Heather said they wanted a peaceful split when they announced their separation in May, but the two have reached a point of incompatibility as their property conflicts continue to intensify.
Features:
On September 17, McCartney held a press conference, saying he was ready to pay a huge breakup fee to secure the divorce, and it was reported that a physically and mentally exhausted Paul McCartney had intended to offer £200 million (about $3 billion) to Heather to end the relationship quickly.
Fifth place: $100 million
Masters: Spielberg and Emmy Owen
Director Spielberg is a shrewd man who, 20 years ago when prenups were not fashionable, knew how to enter into a prenup before entering the hall.
The director, Spielberg, is a smart man, and he knows how to drag actress Emmy Owen to sign a prenuptial agreement before walking down the aisle. The company’s first-ever “The Big Bang Theory” is a new version of the “The Big Bang Theory”, a new version of the “The Big Bang Theory”.
The great Kevin (facebook) Costner and Harrison Ford were also victims of not signing a prenuptial agreement. Kevin was cut out of $80 million by metrosexual Cindy, and Harrison Ford spit out $85 million to his ex-wife Melissa, who had written the script for “ET Aliens.
A number of other stars have refused to discuss the issue with their lawyers for fear that signing a prenup would hurt each other’s feelings, for example: Before she married Tom Arnold in 1999, American actress Roseanne Barr fired the lawyer who advised her to sign a prenup in a fit of rage. As a result, when she got divorced four years later, she had to give half of her fortune – or $50 million – to Arnold, taking a dumb loss.
No. 6: The entire fortune of Crown Prince Charles
The heroes: The Crown Prince and Diana
In August 1996, Crown Prince Charles and Princess Diana divorced, and it was It is widely believed that Diana was the victim of the marriage. However, the game was played differently when it came to property, and Charles reportedly paid the price, according to the crown prince’s former personal financial adviser, Jeffrey Bignell: as part of the divorce settlement, Charles gave Diana all of his personal assets and became a penniless “pauper” himself.
Charles almost lost everything he had to meet Diana’s demands. All of his investments were liquidated so that he could give Diana cash.
Under the divorce settlement, Diana received a lump sum of £17 million (about $26.4 million at the time) in cash compensation and an annual allowance of £400,000. Queen Elizabeth also granted her permission to remain at Kensington Palace and retain custody of the two princes, William and Harry.
Charles, who receives no royal salary, earns nearly £12 million a year from real estate in the Cornish domains, but has no right to sell any of the assets in the domains. As a result, Charles had to borrow several million pounds from the Queen to pay for the divorce settlement. Charles is still said to be repaying the money owed to his mother.