document 1 of 1
China Law & Practice attended the Second Advanced China Summit on M&A
in Shanghai last week. Strategy and the climate for M&A were high on the
agenda, as well as vital lessons for getting the deal done. Participants at the
Summit learned that industrials and chemicals, consumer, technology and energy,
mining and utilities were the top active industries in the first three quarters
of this year for M&A in China.
China Law & Practice attended the Second Advanced China Summit on M&A
in Shanghai last week. Strategy and the climate for M&A were high on the
agenda, as well as vital lessons for getting the deal done
Participants at the Summit learned that industrials and chemicals, consumer, technology and energy, mining and utilities were the top active industries in the first three quarters of this year for M&A in China.
There is definitely an appetite for deals in Asia," said Nima Masroori, general counsel for Honeywell at the Summit, which was organised by the American Conference Institute.
In terms of China inbound M&A deals for foreign acquirers, Svenska Cellulosa's acquisition of Vinda and Volvo's acquisition of Dongfeng Commercial Vehicles have been the two largest deals to date in 2013.
PetroChina's acquisition of Taikang and Guolian Energy lead the pack for local M&A deals with Long Tan Hydropower's acquisition of Guangxi Guiguan Electric just behind.
Masroori observed that one of the key challenges is to find high quality companies that meet screening standards. This included reliable management and people that want to be kept on.
Participants at the Summit were reminded to consider the integration process from the beginning during an acquisition. In some cases, when a target has been acquired by a multinational, some of the value that was seen early on has been stripped away.
GSK sets example
Much discussion focused on the GSK bribery scandal at the summit with Ji Zou, managing partner of Allen & Overy's Shanghai office, asking Jan van der Putten, vice president for strategy and acquisitions at the life sciences company DSM, if this had any effect on internal review processes.
"We have always been focused on this and in that respect nothing has really changed," said Putten. Masroori shared similar experiences: "All the time we have been out here this has been at the top our M&A message and one of the first steps is pre-screening for compliance."
Read CLP analysis article: GSK case shows the importance of internal audits to learn more about the scandal and what companies can be doing to prevent an investigation.
Participants noted that one of the key challenges with deals is that in China it is easy to find companies to acquire that have good growth, but profitability is more difficult. The China market is incredibly competitive, which makes pricing essential.
The Free Trade Zone
The China (Shanghai) Free Trade Zone has created much excitement among foreign companies operating in China. "This is something we are excited about and see it as a positive development," said Putten.
Ji Zou noted that how attractive the Zone is really depends on the industry the company is involved with. "There is a chance that some of the restricted sectors may potentially open up - but everyone is waiting to see the detailed policies."
Companies in the financial sector are trying to set up offices in the Zone and they may have a first mover advantage as they are the first to pledge their support for their zone.
The November/December issue of China Law and Practice looks at the Free Trade Zone and what foreign investors can expect.
Approval processes
There has been much talk this year of the government simplifying some of the approval processes for foreign companies. However, corporates at the Summit had yet to really feel any of the affects from these policies.
"Government approvals are part of doing business in China. We have not seen any rationalisation as of yet, but if it does not happen it is not really a big deal, as we have always been prepared for the timings" said Masroori.
Going back to basics looks at how a Circular from the State Council may streamline the process and eases the registration burden for establishing a foreign-invested enterprise.
China Law & Practice has a media partnership with the American Conference Institute.
By David Tring
Further reading:
Why Hong Kong-listed companies should look to the Cayman Islands
China Outbound Investment Guide 2013
Why Chinese companies are using Hong Kong for outbound M&A
What your M&A strategy should look like: [1]
Find a copy
http://bb2sz3ek3z.search.serialssolutions.com/?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&rfr_id=info:sid/ProQ%3Aabiglobal&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=unknown&rft.jtitle=China+Law+%26+Practice&rft.atitle=What+your+M%26A+strategy+should+look+like%3A+%5B1%5D&rft.au=Anonymous&rft.aulast=Anonymous&rft.aufirst=&rft.date=2014-01-01&rft.volume=&rft.issue=&rft.spage=&rft.isbn=&rft.btitle=&rft.title=China+Law+%26+Practice&rft.issn=10126724
Abstract (summary)
Full Text
Participants at the Summit learned that industrials and chemicals, consumer, technology and energy, mining and utilities were the top active industries in the first three quarters of this year for M&A in China.
There is definitely an appetite for deals in Asia," said Nima Masroori, general counsel for Honeywell at the Summit, which was organised by the American Conference Institute.
In terms of China inbound M&A deals for foreign acquirers, Svenska Cellulosa's acquisition of Vinda and Volvo's acquisition of Dongfeng Commercial Vehicles have been the two largest deals to date in 2013.
PetroChina's acquisition of Taikang and Guolian Energy lead the pack for local M&A deals with Long Tan Hydropower's acquisition of Guangxi Guiguan Electric just behind.
Masroori observed that one of the key challenges is to find high quality companies that meet screening standards. This included reliable management and people that want to be kept on.
Participants at the Summit were reminded to consider the integration process from the beginning during an acquisition. In some cases, when a target has been acquired by a multinational, some of the value that was seen early on has been stripped away.
GSK sets example
Much discussion focused on the GSK bribery scandal at the summit with Ji Zou, managing partner of Allen & Overy's Shanghai office, asking Jan van der Putten, vice president for strategy and acquisitions at the life sciences company DSM, if this had any effect on internal review processes.
"We have always been focused on this and in that respect nothing has really changed," said Putten. Masroori shared similar experiences: "All the time we have been out here this has been at the top our M&A message and one of the first steps is pre-screening for compliance."
Read CLP analysis article: GSK case shows the importance of internal audits to learn more about the scandal and what companies can be doing to prevent an investigation.
Participants noted that one of the key challenges with deals is that in China it is easy to find companies to acquire that have good growth, but profitability is more difficult. The China market is incredibly competitive, which makes pricing essential.
The Free Trade Zone
The China (Shanghai) Free Trade Zone has created much excitement among foreign companies operating in China. "This is something we are excited about and see it as a positive development," said Putten.
Ji Zou noted that how attractive the Zone is really depends on the industry the company is involved with. "There is a chance that some of the restricted sectors may potentially open up - but everyone is waiting to see the detailed policies."
Companies in the financial sector are trying to set up offices in the Zone and they may have a first mover advantage as they are the first to pledge their support for their zone.
The November/December issue of China Law and Practice looks at the Free Trade Zone and what foreign investors can expect.
Approval processes
There has been much talk this year of the government simplifying some of the approval processes for foreign companies. However, corporates at the Summit had yet to really feel any of the affects from these policies.
"Government approvals are part of doing business in China. We have not seen any rationalisation as of yet, but if it does not happen it is not really a big deal, as we have always been prepared for the timings" said Masroori.
Going back to basics looks at how a Circular from the State Council may streamline the process and eases the registration burden for establishing a foreign-invested enterprise.
China Law & Practice has a media partnership with the American Conference Institute.
By David Tring
Further reading:
Why Hong Kong-listed companies should look to the Cayman Islands
China Outbound Investment Guide 2013
Why Chinese companies are using Hong Kong for outbound M&A
( (c) Euromoney Institutional Investor PLC Jan 2014)
Indexing (details)
Location
Title
What your M&A strategy should look
like: [1]
Author
Publication title
Pages
n/a
Publication year
2014
Publication date
Jan/Feb 2014
Year
2014
Place of publication
London
Country of publication
United Kingdom
Publication subject
ISSN
10126724
Source type
Trade Journals
Language of publication
English
Document type
General Information
ProQuest document ID
1500559932
Document URL
http://libproxy1.nus.edu.sg/login?url=http://search.proquest.com/docview/1500559932?accountid=13876
Copyright
( (c) Euromoney Institutional Investor PLC
Jan 2014)
Last updated
2014-03-17
Database
ABI/INFORM Complete
Copyright © 2014 ProQuest LLC. All rights reserved. Terms and Conditions
document 1 of 1
China Law & Practice attended the Second Advanced China Summit on M&A
in Shanghai last week. Strategy and the climate for M&A were high on the
agenda, as well as vital lessons for getting the deal done. Participants at the
Summit learned that industrials and chemicals, consumer, technology and energy,
mining and utilities were the top active industries in the first three quarters
of this year for M&A in China.
China Law & Practice attended the Second Advanced China Summit on M&A
in Shanghai last week. Strategy and the climate for M&A were high on the
agenda, as well as vital lessons for getting the deal done
Participants at the Summit learned that industrials and chemicals, consumer, technology and energy, mining and utilities were the top active industries in the first three quarters of this year for M&A in China.
There is definitely an appetite for deals in Asia," said Nima Masroori, general counsel for Honeywell at the Summit, which was organised by the American Conference Institute.
In terms of China inbound M&A deals for foreign acquirers, Svenska Cellulosa's acquisition of Vinda and Volvo's acquisition of Dongfeng Commercial Vehicles have been the two largest deals to date in 2013.
PetroChina's acquisition of Taikang and Guolian Energy lead the pack for local M&A deals with Long Tan Hydropower's acquisition of Guangxi Guiguan Electric just behind.
Masroori observed that one of the key challenges is to find high quality companies that meet screening standards. This included reliable management and people that want to be kept on.
Participants at the Summit were reminded to consider the integration process from the beginning during an acquisition. In some cases, when a target has been acquired by a multinational, some of the value that was seen early on has been stripped away.
GSK sets example
Much discussion focused on the GSK bribery scandal at the summit with Ji Zou, managing partner of Allen & Overy's Shanghai office, asking Jan van der Putten, vice president for strategy and acquisitions at the life sciences company DSM, if this had any effect on internal review processes.
"We have always been focused on this and in that respect nothing has really changed," said Putten. Masroori shared similar experiences: "All the time we have been out here this has been at the top our M&A message and one of the first steps is pre-screening for compliance."
Read CLP analysis article: GSK case shows the importance of internal audits to learn more about the scandal and what companies can be doing to prevent an investigation.
Participants noted that one of the key challenges with deals is that in China it is easy to find companies to acquire that have good growth, but profitability is more difficult. The China market is incredibly competitive, which makes pricing essential.
The Free Trade Zone
The China (Shanghai) Free Trade Zone has created much excitement among foreign companies operating in China. "This is something we are excited about and see it as a positive development," said Putten.
Ji Zou noted that how attractive the Zone is really depends on the industry the company is involved with. "There is a chance that some of the restricted sectors may potentially open up - but everyone is waiting to see the detailed policies."
Companies in the financial sector are trying to set up offices in the Zone and they may have a first mover advantage as they are the first to pledge their support for their zone.
The November/December issue of China Law and Practice looks at the Free Trade Zone and what foreign investors can expect.
Approval processes
There has been much talk this year of the government simplifying some of the approval processes for foreign companies. However, corporates at the Summit had yet to really feel any of the affects from these policies.
"Government approvals are part of doing business in China. We have not seen any rationalisation as of yet, but if it does not happen it is not really a big deal, as we have always been prepared for the timings" said Masroori.
Going back to basics looks at how a Circular from the State Council may streamline the process and eases the registration burden for establishing a foreign-invested enterprise.
China Law & Practice has a media partnership with the American Conference Institute.
By David Tring
Further reading:
Why Hong Kong-listed companies should look to the Cayman Islands
China Outbound Investment Guide 2013
Why Chinese companies are using Hong Kong for outbound M&A
What your M&A strategy should look like: [1]
Find a copy
http://bb2sz3ek3z.search.serialssolutions.com/?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&rfr_id=info:sid/ProQ%3Aabiglobal&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=unknown&rft.jtitle=China+Law+%26+Practice&rft.atitle=What+your+M%26A+strategy+should+look+like%3A+%5B1%5D&rft.au=Anonymous&rft.aulast=Anonymous&rft.aufirst=&rft.date=2014-01-01&rft.volume=&rft.issue=&rft.spage=&rft.isbn=&rft.btitle=&rft.title=China+Law+%26+Practice&rft.issn=10126724
Abstract (summary)
Full Text
Participants at the Summit learned that industrials and chemicals, consumer, technology and energy, mining and utilities were the top active industries in the first three quarters of this year for M&A in China.
There is definitely an appetite for deals in Asia," said Nima Masroori, general counsel for Honeywell at the Summit, which was organised by the American Conference Institute.
In terms of China inbound M&A deals for foreign acquirers, Svenska Cellulosa's acquisition of Vinda and Volvo's acquisition of Dongfeng Commercial Vehicles have been the two largest deals to date in 2013.
PetroChina's acquisition of Taikang and Guolian Energy lead the pack for local M&A deals with Long Tan Hydropower's acquisition of Guangxi Guiguan Electric just behind.
Masroori observed that one of the key challenges is to find high quality companies that meet screening standards. This included reliable management and people that want to be kept on.
Participants at the Summit were reminded to consider the integration process from the beginning during an acquisition. In some cases, when a target has been acquired by a multinational, some of the value that was seen early on has been stripped away.
GSK sets example
Much discussion focused on the GSK bribery scandal at the summit with Ji Zou, managing partner of Allen & Overy's Shanghai office, asking Jan van der Putten, vice president for strategy and acquisitions at the life sciences company DSM, if this had any effect on internal review processes.
"We have always been focused on this and in that respect nothing has really changed," said Putten. Masroori shared similar experiences: "All the time we have been out here this has been at the top our M&A message and one of the first steps is pre-screening for compliance."
Read CLP analysis article: GSK case shows the importance of internal audits to learn more about the scandal and what companies can be doing to prevent an investigation.
Participants noted that one of the key challenges with deals is that in China it is easy to find companies to acquire that have good growth, but profitability is more difficult. The China market is incredibly competitive, which makes pricing essential.
The Free Trade Zone
The China (Shanghai) Free Trade Zone has created much excitement among foreign companies operating in China. "This is something we are excited about and see it as a positive development," said Putten.
Ji Zou noted that how attractive the Zone is really depends on the industry the company is involved with. "There is a chance that some of the restricted sectors may potentially open up - but everyone is waiting to see the detailed policies."
Companies in the financial sector are trying to set up offices in the Zone and they may have a first mover advantage as they are the first to pledge their support for their zone.
The November/December issue of China Law and Practice looks at the Free Trade Zone and what foreign investors can expect.
Approval processes
There has been much talk this year of the government simplifying some of the approval processes for foreign companies. However, corporates at the Summit had yet to really feel any of the affects from these policies.
"Government approvals are part of doing business in China. We have not seen any rationalisation as of yet, but if it does not happen it is not really a big deal, as we have always been prepared for the timings" said Masroori.
Going back to basics looks at how a Circular from the State Council may streamline the process and eases the registration burden for establishing a foreign-invested enterprise.
China Law & Practice has a media partnership with the American Conference Institute.
By David Tring
Further reading:
Why Hong Kong-listed companies should look to the Cayman Islands
China Outbound Investment Guide 2013
Why Chinese companies are using Hong Kong for outbound M&A
( (c) Euromoney Institutional Investor PLC Jan 2014)
Indexing (details)
Location
Title
What your M&A strategy should look
like: [1]
Author
Publication title
Pages
n/a
Publication year
2014
Publication date
Jan/Feb 2014
Year
2014
Place of publication
London
Country of publication
United Kingdom
Publication subject
ISSN
10126724
Source type
Trade Journals
Language of publication
English
Document type
General Information
ProQuest document ID
1500559932
Document URL
http://libproxy1.nus.edu.sg/login?url=http://search.proquest.com/docview/1500559932?accountid=13876
Copyright
( (c) Euromoney Institutional Investor PLC
Jan 2014)
Last updated
2014-03-17
Database
ABI/INFORM Complete
No comments:
Post a Comment