Local Corps to copy the bottom of the Australian mining overseas acquisition of the road downwind

Chen Shanshan July 8, Australia's third largest city of Asia Brisbane, copper Enterprises Pan-Australian Shareholders meeting to 94.89% of the high vote through, ushered in China's largest shareholder-the Chinese Lingnan (000060.SZ) of the parent company of Guangdong Province Guang Sheng Asset Management Co., Ltd. (hereinafter referred to as "Sheng assets"). The successful adoption of the shareholders ' meeting marks the acquisition of the Australian copper mine by the company, which has gone through all the Australian approval procedures.　　The deal was previously approved by the Australian Foreign Investment Audit Committee (Foreign Investment Review Board, hereinafter referred to as "FIRB"). Compared with the huge overseas mergers and acquisitions, local state-owned enterprises are not uncommon to acquire overseas mineral resources. However, they are often not the public attention, the choice of mergers and acquisitions are not the industry's leading giants.　　However, through many international lessons and experiences, and strong support from local governments, their overseas acquisitions seem to be more favorable than the "deep pockets" of the central enterprises. The experience and lessons accumulated "can be completed in two months to complete the two Australian enterprise mergers and acquisitions, even the Australian government departments, exchanges are also surprised at our speed."　　"Gold Lingnan interior high-level told CBN reporters. Gold Lingnan is a lead-zinc metal production as the main business of the listed companies, the company is headquartered in Shenzhen, the main production base in Shaoguan.　　At present, Guang Sheng assets hold its 31.73% stake. May 26 This year, the Kwong Sheng assets and Pan-Australian signed an agreement, Kwong Sheng Assets plan to subscribe to 140 million U.S. dollars Pan-Australian company 460 million shares of new shares, 0.395 AUD per share, about the Pan-Australian company after the expansion of the shares of 19.9% Equity, and become its largest shareholder.　　Under the agreement, Guang Sheng assets can also be a director of Pan-Australian company. Pan-Australian headquarters is located in Brisbane, Australia, but the main mine is located in the Lao Phu Kham copper-gold mine, ore reserves of 146 million tons, 2009 is expected to produce copper concentrate copper 65,000 tons, production of gold 65,000 ~7.5 million ounces.　　In addition, Pan-Australian companies in Laos and Thailand also have copper, gold exploration projects. In the aftermath of the financial crisis, Pan-Australian companies, like many mining companies around the world, suffered a debt crisis.　　Pan-Australia 2008 Annual report shows that the company's annual loss of about 40 million Australian dollars, debt up to 438 million Australian dollars, of which bank loans of 201 million Australian dollars. "Trading with the company's assets will solve pan-Australian debt problems and enable the company to refocus its efforts on business development," he said. Pan-Australian Board chairman Garry Hounsell at the shareholder meeting.　　He also revealed that in the past 5 months, there have been more than 30 companies to participate in the Pan-Australian bid, and the company eventually chose to invest in Guang Sheng assets, in addition to reasonable prices, but also take into account the wide-sheng assets have very good growth, and the company's future objectives can be agreed. In the industry's view, the broadSheng assets in a short period of two months to obtain the Australian FIRB and general Meeting of the "pass", in addition to the pan-Australian copper ore resources are mainly distributed in Southeast Asian countries, rather than Australia, the acquisition of the history of Guang Sheng assets in Australia's experience and lessons have also played a decisive role. Not long ago, Guang sheng assets of the gold Lingnan has just succeeded in Australia lead and zinc mining producer Perilya 2¥q.　　At the time, CBH, another company in Australia, once also wanted to gain control of the PEM company by exchanging shares, and in order to get rid of its rivals, it sent a team of 10 people to participate in the acquisition and eventually won the competition. The acquisition of the gold Lingnan in Australia is not smooth sailing.　　In January 2008, CICC, a former United Indonesia Tower company, hopes to acquire an Australian pioneer in another lead-zinc ore company in Australia, which is required to pay 2 billion yuan for acquisitions in order to gain a 48% per cent stake.　　Local government support the deal with FMG, the country's third-largest iron ore producer, has been full of twists and turns from the two sides to a deal that lasted more than a year, compared with CICC, another local state-owned company.　　In April 2008, a top executive of Hualing Group met the FMG executives at an industry meeting in Beijing, and has always "favoured" the FMG of the Chinese market, throwing hydrangea to hualing and proposing to sell the stake. At that time, because the commodity market is still high, FMG's stock is very high, if the market price, the acquisition of 14.9% of the stake will be 25.5 billion yuan.　　Even more so, the frown of China's top executives is that another big steel magnate in the country is also negotiating on the purchase of FMG, which has not been discussed since the FMG price is too high. Valin is waiting for the opportunity. Last April, FMG's share price was around 7.2 AUD, and in June it was as high as $12.78, and if it were to start the acquisition, it would have to pay nearly 4 times times more than it is now. Therefore, hualing is not in a hurry to make a decision, but patiently with each other.　　According to Valin, chairman of Hualing Group, the two sides had conducted more than 10 rounds of face-to-face talks, while Valin himself spoke to FMG's CEO Andrew face-to-face five times. Valin's ability to live so well has much to do with the strong support of the local government. "In the province on the one hand, the coordination of large financial institutions to support us, on the other hand, FMG executives to China to negotiate, even the governor of Hunan Province will meet."　　Valin told reporters that the support of Hunan Provincial party committee and provincial government is not only the reason for FMG to choose Hualing, but also the fundamental guarantee that hualing can successfully acquire FMG equity. "FMG in Australia 85,000 square meters of land, now only 15% are exploration, this is Hunan nonferrous strength; South Car group's train, Zoomlion's engineering machinery equipment, Xiangtan motor Factory has hundred tons of large dump truck, will have the opportunity to cooperate with FMG." Moreover, Changsha has so many professional mining and metallurgy researchInvestigating institutions. "Hualing Group director, Deputy general manager Long Jianzhong told CBN Reporter, and these strategic cooperation, and the entire Hunan provincial government to the local enterprises coordination has a great relationship."