Interview with Deloitte tax partner Andrew Zhu: dominance of resource acquisition
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Andrew Zhu: The Top Ten M & A and manufacturing resources in several acquisitions we are involved, these case is more representative.
Die Zeit: mergers and acquisitions this year and previous years are any different? sharp post-Bo's visit to China, Deloitte Tax Services partner management in the management of Eucalyptus Zhu: Resource Line class M dominate.
Andrew Zhu: This year's M & A cases and in previous years, the same place, there are new features. International M & A market, there were frequent presence of Chinese companies, and we see all the M & M is the most important resource. Whether it is coal, iron ore, or the acquisition of oil fields, Chinese companies are actively involved and successful.
Die Zeit: You can say that the financial crisis for the Chinese enterprises in resource acquisition provides the opportunity to participate in mergers and acquisitions last year,
Chaussure Christian Louboutin, whether there is any new enterprise features?
Zhu Eucalyptus: the operation after the acquisition of resources more easily, because we only need each other's resources,
tory burch outlet, rather than buy a brand, to consider the future operation and development of the brand, the future integration of management,
christian louboutin italia, and so many people problem.
Die Zeit: I note that the highest success rate of resource acquisition time is the end of 2008 and the first half of 2009, which is just the end of this financial crisis, and by the end of M & A failure is frequently heard the news like Sinopec, CNOOC and no news of success to continue, is not with the economic recovery, our resource acquisition will become increasingly difficult?
Andrew Zhu: Indeed, the financial crisis hit just after the resource is relatively low asset prices, relatively speaking, easier negotiations, as oil prices 30-40 U.S. dollars and other assets when the price of oil is more to talk about, And wait until the recent price recovery, and talk about the price of relatively poor. And now many large companies tend to make capital acquisitions of assets in accordance with the company's stock price, and that a high stock prices naturally high. Transnational mergers and acquisitions of companies in the past more cash acquisitions, capital markets recover, we should be more involved in future research to corporate equity and convertible for capital acquisitions.
Die Zeit: You participated in more than M & A cases, in the process of success and failures, you think what businesses should learn from the experiences and lessons learned?
Andrew Zhu: must have a good team, a team in the role of M & A process is important, it should pay attention to personnel training.
Time Weekly: Like last year, Volvo, Hummer Tengzhong news of the acquisition has caused a great uproar,
Salvatore Ferragamo outlet, a sensation. Your active participation in these international mergers and acquisitions of Chinese companies eager to go out any suggestions?
Andrew Zhu: To try to consider their own core business, the acquisition of the assets and brand should be as much as possible with the main business and consistent development of core competitiveness of enterprises.
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