The time to buy in China from a foreign investor's perspective has seldom been better before. The local stock markets came down and even China is not immune against the global financial meltdown. This has brought valuations of potential target companies to a more acceptable level compared to previous years.
In established M&A markets, sophisticated procedures have evolved to find, value and assess acquisition targets. This is only partly true for China. What was an issue five or ten years ago is not an issue anymore. New regulations, more sophisticated vendors and an intense competition among buyers have changed acquisition tactics.
Our workshop comprises what we found to be the most crucial steps along the M&A lifecycle in China starting from finding a potential target company over diligence to a successful closing. Due to an increasing relevance, we also provide an add-on session about ways out for failed entities or JVs in a deadlock.
An M&A partner from our Shanghai office who has worked on around 200 acquisitions in China for foreign buyers together with our Chinese Services Group presents solutions based on real cases and latest trends.
Location and Dates:
11 June 2012, Munich
Deloitte, Rosenheimer Platz 4, 81669 München
13 June 2012, Hamburg
Deloitte, Axel-Springer Platz 3, 20355 Hamburg
14 June 2012, Düsseldorf
Deloitte, Schwannstraße 6, 40476 Düsseldorf
19 June 2012, Stuttgart
Deloitte, Löffelstraße 42, 70597 Stuttgart
20 June 2012, Frankfurt
Deloitte, Franklinstraße 50, 60486 Frankfurt
Agenda:
9.00 a.m.
Welcome
9.15 – 9.30 a.m.
Welcome and introduction of speakers
9.30 – 10.15 a. m.
Finding the right one - why so many buyers never find a target company.
Solutions for a successful target search process.
10.15 – 11.00 a.m.
Let those few be well tried before you give them your confidence - the due diligence as most important protection for investments in China
The irreversible consequences of conducting diligence just to tick the box and why this behaviour can still be seen
Best diligences practices and the major differences to due diligences in Western countries
11.00 – 11.15 a.m.
Coffee break
11.15 – 11.45 a.m.
Collapsed before the finishing line - why so many deals fall apart before and after signing
The art of creating acceptable deal terms from issues revealed during the diligence
11.45 a. m. – 12.30 p.m.
Get over it! - solutions for liquidations of loss making entities in China and how to deal with deadlock situations in joint ventures with local partners
12.30 – 1.00 p.m.
Q&A and closing remarks
1.00 p.m.
Lunch
We will provide comprehensive written material for each section for further reading and follow-up.
Speakers:
Dirk Hällmayr, Partner, Chinese Services Group, Deloitte
Mike Braun, M&A Partner, Shanghai Office, Deloitte
Yan Sun, German Leader China Desk, Raupach & Wollert-Elmendorff
Markus Nibler, Partner Transaction Advisory Services, München, Deloitte
Visit our homepage www.deloitte.com/de/china to learn more about the Chinese Services Group and how it can help your cross-border strategy.
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