And June Venture President Su: private enterprises overseas Snake swallow image will still be staged

Many in the industry believe it is an "asymmetric takeover" of the snake-swallowed image of Geely's 1.8 billion-dollar successful takeover of 100% per cent of Volvo's car company. Even Mr Li has confessed: "I picked up a big bargain." "So how much did Li Shufu pick up?" From the case of Geely's merger and acquisition of Volvo, what enlightenment can China's private enterprises get from it?　　To this end, this reporter interviewed a long time engaged in corporate strategy, acquisition and mergers of research and consulting, venture capital experts, the Chamber of Commerce mergers and acquisitions board of Directors, He Jun pioneering President Su. To small swallow big, may not be "indigestion" Chinese enterprises overseas mergers and acquisitions successful, is very rare. From the law of Automobile integration, SU that China's auto industry development was exclusively "joint venture model", but in addition to the "after the winner" of the North Steam Fukuda, all other failures. Because a lot of technology, brand resources are strictly foreign control, blocking the Chinese enterprise technology upgrading and independent development of the road. In addition, the mergers and acquisitions of internationally renowned car brands are mostly unsuccessful because of the serious cultural "homosexual" sex exclusion.　　In the automobile industry, the cultural color is very heavy, especially the international brand has already formed its own "cultural field" (with the automobile consumer), mutual mutual exclusion. Therefore, he believes that in the globalization process of Chinese joint ventures, strong alliances are not good, to small swallow big, may not be "indigestion." The automobile itself is also a kind of cultural industry, in the merger process is not fastidious "is equal to each other".　　Geely mergers and acquisitions Volvo, looks like Geely Gao, in fact, is precisely the "heterosexual", far more than the Chinese and foreign "joint venture model" to be much more advanced, it is conducive to China's auto industry to take the road of independent development. Private enterprises go out is the general trend in fact, Geely mergers and acquisitions Volvo, in China's overseas mergers and acquisitions case is just "the tip of the iceberg." Many successful mergers and acquisitions are not surfacing.　　Su said that from the economic development trend, China's rise and Chinese enterprises "go out" is already the same concept. At present, Chinese enterprises "go out" has completed four stages: first, after joining the WTO, China's manufacturing export enterprises go out; second, foreign funds enter China and invest in domestic enterprises to form the overseas listing of Chinese enterprises; third, after the financial crisis, the global industrial decline, China's first recovery, To go beyond the industry's capability; Four is the global liquidity surplus, Chinese enterprises in various ways and channels to buy overseas assets, buy technology, buy resources phase.　　This shows that the future development of Chinese enterprises must be the brand, technology, talent upgrade. In this trend, are Chinese private enterprises seeking to develop themselves internally or to go abroad for mergers and acquisitions?　　Su that the latter has a comparative advantage, winning faster, is a rare opportunity for enterprise transformation and development. Without strategic thinking, mergers and acquisitions are dead. At present, China's private enterprises go out of the present situation has three forces: first, the industrialized private enterprises. Industrialized companies are the first to go out, but because of China's national consciousness and nationalSentiment, the clamour of doubt, and the fact that China's exchange-control policy has led to the grey buying of capital, so most industrial companies have tried to buy it in grey areas and are not known to everyone. The second is to purchase resources mainly private enterprises. such as the accumulation of large sums of money in the mining industry, most of them are based on the thinking of the initial reform and opening up the operation of global resources, private capital and gray underground banks as the main source of funds, and the state action is not related. Third, the new upsurge in the emerging market capital industry.　　The state's money is generally invested in state-owned enterprises, resulting in private companies in private to gather funds to buy listed companies. So, what is the law of Chinese private enterprises to go out to follow? Su that "if there is no strategic thinking and come to die." He proposed five points of "potential, road, law, operation and force" for private enterprises seeking to acquire overseas. Potential, refers to the strategic potential of mergers and acquisitions, found that there are available value connotations. Tao, how to integrate Chinese management with enterprises and how to achieve internationalization and localization. On the road (culture), how can both accommodate overseas talent, but also adhere to their own dominant culture, if the merger after the Tao is completely unable to fuse, serious conflict, the enterprise will surely die. Law, refers to the trading model and risk aversion, must ask the best international intermediary Company, he will help you analyze the risks, to help you guard against. Operation, referring to the management technology and ability of the future, China's management + foreign technology, in order to achieve maximum complementarity. Force, refers to the capital market, to take the global capital bullish on China's concept of exerting power.　　For example, Geely buys Volvo, its capital value is global, the future stock market value will continue to increase. Su finally pointed out that in the global market competition, the biggest weakness of private enterprises is brand short board, and the global financial crisis, the globalization of China's private enterprises to provide the largest integration opportunities. Therefore, he suggested that the state's foreign exchange reserves should be put to the strength of China's private enterprises, to promote the internationalization of the road, and foreign brands to reorganize the integration, access to global market channels and operating brand experience.