In recent years, as more and more Chinese enterprises are entering into the “international arena”, strategic outbound M&As have emerged as a new trend of direct outbound investment by Chinese companies. The primary drives behind such trend are enterprise growth, national resource strategy and global competition pressure. The strategic outbound M&As of Chinese companies are characterized by a focus on long-term strategic interests, full utilization of external financing, taking advantage of the undervalued market, and grasping of the shift of Chinese government’s attitude. The major challenges Chinese companies are facing in their strategic outbound M&As are short-term profit-making capability, integration of worldwide businesses, and compliance with international law systems.
The Chinese companies are going global at an unprecedented pace, as China further expedites its opening up process and its national economic power grows. Since China’s official accession to the World Trade Organization, outbound M&As have increasingly become the main route for direct investments by Chinese companies. Recent years have witnessed a surge of outbound M&A deals including many high-profile cases, such as CNOOC’s acquisition of certain equity interests in Indonesia’s five major oil fields from Repsol-YPE, TCL’s acquisition of the TV business of Thomson SA, Lenovo’s acquisition of IBM’s PC business, to name a few. Strategic outbound M&As are serving as the new approaches for Chinese companies to explore growth potential and competitive advantages.
Going forwards, the China Outbound M&A Forum will be held on a regular basis. The sponsors will invite professional consultants and senior corporate executives in outbound investment and M&A deals to have in-depth discussion about the relevant issues, with an aim to enhance the enforceability of planning and implementation of outbound M&A deals and lower risks associated with M&A deals.
Agenda
13:30-14:50 Registration
14:50-15:00 Opening remarks by the hosting party
15:00-16:00 Specific topics: the strategic planning and analysis concerning optimal transaction structures in cross-border M&A , tax issues and the influence of transaction structures in cross-border investments and M&A(Speaker:Lawrence Guo&Julie Hao)
Topics covered: equity acquisition, assets acquisition, SPV establishment, acquisition of listed companies, seller’s auction procedure, acquisition of a company in bankruptcy proceeding; tax issues in equity acquisition and assets acquisition, optimal tax structure, application of foreign tax credit
16:00-16:40 Specific topic: How to structuring the efficient outbound investment for the Chinese companies.（Speaker：Kit-wah POON）
It will give several specific cases for discussion how to structuring the efficient outbound investment into Latin America, South Africa, Egypt and Europe as well as the benefit for adopting a SPV for the structuring.
16:40-17:50 Tea break and networking
Introduction of Speakers
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Lawrence Guo
Jade & Fountain PRC Lawyers, Partner
Lawrence specializes in cross-border investments and M&As, PE and VC fund formation and investments, international securities offerings and IPOs, and general corporate. Lawrence has advised on numerous cross-border transactions for Chinese and multinational companies. Lawrence has been identified as a top-10 M&A lawyer in China Yearbook of Lawyers(2009). Lawrence is admitted to practice law in China and the New York State. He speaks native Mandarin and fluent English. |
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Scott Guan
Partner, Jade & Fountain PRC Lawyers
Scott Guan has extensive experience in mergers and acquisitions, foreign direct investment, PE and VC investments, capital markets, dispute resolution as well as general corporate and business advice. He has practiced law with leading Chinese, Canadian and British law firms in Shanghai, Toronto and Hong Kong and been retained as an arbitrator by the Shanghai Arbitration Commission. Scott is continuously recognized in The International Who’s Who of Business Lawyers and other publications as one of the leading lawyers in China.
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Kit-wah POON (“CP”)
Amicorp,Director of Structuring and Product Development
He is an expert in structuring tax efficient inbound and outbound investments for both Chinese and abroad investors. CP commenced his career in Hong Kong and China tax services with the Big Four international accounting firms following his graduation from university. He specialises in Hong Kong and China tax, and business regulatory matters. CP has served as a PRC tax advisor for the Hong Kong Trade & Development Council providing advice to Hong Kong SMEs, and as an editorial member of the tax journal China Tax Intelligence published by CCH. CP is a member of the Hong Kong Institute of Certified Public Accountants and a fellow member of the Association of Certified Chartered Accountants. |
