中企海外并购成功与失败案例.ppt

1、中企海外并购成功与失败案例,项胤翔 方俊 洪一坤 卜士杰,M restrictthe import and exportoftechnology, the implementation oflicense management.,Chinalco:Rio Tintoshares,die a natural death,ChinalcoandRio TintoonFebruary 12, 2009signed a cooperationagreementwith theexecutive,toa total of$ 19.5 billionstrategicstake inRio Tinto.A

2、luminumCompanycompletedthe transactionof U.S. $21 billion infinancing arrangements,and access tothe AustralianCompetition and ConsumerProtection Committee,the German FederalCartel Office, the U.S.Committee on Foreign Investmentand otherregulatory approvals.However,Rio Tintowas inJune 5, 2009revokedt

3、he cooperationdeal,according to the agreementpaidtothe aluminumliquidated damagesof $ 195 million,withBHPBilliton oniron orejoint venturebusinessagreement.Comments: The Chinesecentral enterprisestend toinvestin overseascapital adequacyknown,public relationscapability isbarelyhoveringnear thepassingl

4、ine.Thecentralrelationship betweenassociatedenterprisesand the governmentoftenmakes theinvestment behaviorof enterpriseshave been giventhenational willof thesuspect,in this case,the acquisition ofChinese state-ownednaturalbehaviorisveryvulnerable toexclusion ofthe publicinvestor.,CIC:investment in B

5、lackstone,assetsshrink,In March 2007,beganthe preparationofthe investment company,in Mayon the$ 3 billionforeign exchange reserves to$ 29.605/ share price ofshares ofU.S. private equitygiant BlackstoneGroup,10% of theIPO.The dealwas originally designedtoChinas$ 1.2 trillionforeign exchange reservest

6、o finda way outdiversified investment, the resultis not satisfactory.Blackstonesharesfallingafter the listing, but alsoresulted inthe investment companythe investmenthas shrunk dramatically.As ofthe United StatesTimeFebruary 12, 2008, CICinvestedinBlackstoneslossesamounted to$ 1,218,000,000.Comments: Thiscase, orcanprove thatourbusinessdoes not haveto masterthe operating rules ofthe internationalcapital marketscapabilitiesin the internationalcapital marketsexperience,can help usaccumulatelesso