Beware of data counterfeiting by purchased energy companies overseas mergers and acquisitions of IT companies will increase

Source: Internet
Author: User
Keywords Overseas mergers and acquisitions energy companies Jubilee kosmos repsol
"The takeover of Argentina's YPF has not yet been finalized and competition is fierce, with opponents offering higher prices," he said.  "On the evening of July 16, CNOOC senior personage in London, a Chinese and British business celebrity party to the reporter disclosed." Earlier this month, PetroChina and CNOOC were rumoured to have teamed up with the Spanish oil giant Repsol-YPF to offer a bid for the YPF of its Argentine subsidiary, which is believed to amount to hundreds of billions of yuan.  In addition, CNOOC is also involved in bidding for the Kosmos Energy company, which owns the Jubilee oilfield in Ghana.  Chinese companies, including China's three biggest oil giants, are now stepping up their efforts to seize the opportunities for mergers and acquisitions that emerged as a result of the crisis, with PetroChina YPF two bids in 2007. Deloitte Asia-Pacific Director Shekiron (Lawrence Chia) has a unique insight into the current overseas mergers and acquisitions environment and trends at Deloitte's London headquarters.  Deloitte provides consulting services to PetroChina and Sinopec throughout the year.  "The acquirer's data may be in the water." In response to recent bulk mergers and acquisitions, Shekiron noted that some companies were not able to carry out sufficient pre-merger audits, and that "the acquired data could have been stored in water".  He also reminded Chinese companies that overseas mergers and acquisitions should try to avoid premature disclosure, leading to market volatility or complications that would pay higher prices for acquisitions.  Shekiron said that for more complex mergers and acquisitions, Chinese companies are still in the learning phase. "You can see how Western companies do it," he said. "They will spend double or even more time identifying all the dubious data to make sure the takeover decision is correct, and Chinese companies haven't spent enough time scrutinizing all the data correctly." Of course, you can never be absolutely right, but you should at least have enough data to make sure that the investment is worthwhile. Now, for the Chinese companies as buyers, it should be further examined by experts. "At the end of last month, Sinopec announced a 7.24 billion dollar takeover of Addax, a London-listed Swiss oil company, as the biggest buyer of the international energy industry in the two quarter.  10 of the largest oil and gas mergers and acquisitions in the international market in the quarter, 3 buyers from China. There is market analysis that Sinopec's acquisition of Addax Premium is too high, while Addax operating oil fields in Iraq Kurdish and Nigeria, the situation is unstable. For YPF, the western peers of PetroChina and CNOOC are not bullish, the YPF management problem is large, although YPF oil and gas production accounted for 1/3 and 1/4 of the country, but because of the harsh local tax system, price control and labor disputes and other factors, the acquisition of YPF Repsol was dragged down  , has been trying to reduce shares.  Another view, however, is that China's energy giants ' interest and confidence in these companies is just a display of their potential advantage over Western rivals. For the current market "copyBottom "mentality, Shekiron said, lower-priced mergers and acquisitions could provide a double burst of power, but not just because of the low price of a merger. In foreign mergers and acquisitions, whether can be in the market to copy bottom is not the most important factor, the key is how to create value after the merger, that one plus one result is three, not two.  Therefore, how to integrate after the merger, to ensure and continue to create value, is the most important.  He thinks Chinese companies are doing overseas mergers and acquisitions, at this stage, the ability to grasp, effective integration or in the supply chain category, that is, the core market in China, but the need for overseas supply chain, through the control of the supply chain to control the production of products and then control the entire market, this aspect of mergers and acquisitions, including energy, oil and gas fields, But China now needs much more than mergers and acquisitions related to upstream supply chains such as oil and gas, and mergers and acquisitions of downstream products in the supply chain.  China has a very strong supply chain downstream products production, many downstream enterprises need to buy better technology and optimize management, so as to make better production.  For companies that already have a big market in China, there is plenty of power and capacity to get better technology directly from overseas mergers and acquisitions, because it may take an additional five years to develop technology on its own. More mergers and acquisitions in Chinese IT companies Shekiron believes China will do more mergers and acquisitions in the EU in the second half of this year. He predicts that the next Chinese mergers and acquisitions in the EU will focus on technology, "perhaps including the car industry, but will focus on auto parts, in addition to some areas of the supply chain, including some products downstream of the supply chain, such as apparel and other consumer goods brands." In general, the content of mergers and acquisitions will be broader, broader and more complex than before.  "he said. Xie's forecasts are now emerging in the path of Chinese companies ' recent overseas activities.  Ambitious Chinese companies are moving abroad frequently to find more opportunities for technology and trade cooperation. Recently, the reporter encountered a group of Huawei, SMIC, Datang Telecom, Sichuan Maples, Nanjing Panda Electronics and other corporate technical executives of the delegation, they in the UK investment and Trade department, under the arrangement of the British IT industry, to find information and communication technology in the field of business cooperation opportunities.  Over the same period, the Ministry of Commerce's procurement mission to Europe for the third time this year, seeking to work with Portugal, Italy, Sweden and Finland to establish more technical investment and trade cooperation. Wang June, vice president of Maples, told reporters in London, in the Asia-Pacific region, because of the economic crisis, all the corporate IT spending budget is falling, in this case, customers are not willing to pay for the brand, Michael Pu become the current international mainstream brand is the main replacement. "Now we have some challenges in the local market for the industry overlord Cisco," Wang said, "I hope this trip can understand the needs of Vodafone, O2 and other world-class telecom operators and the real ideas of customers, to make a number of solutions to cooperation, in the future we may set up a representative office in the United Kingdom, to carry out a number of pre-sales technical support work." Hope that our market can expand to Europe, the Middle East, pullAmerica and Africa. ”
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