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1、外国投资者在中国的并购类型财务管理外文翻译、中英文翻译、外文翻译附录TypesofMergersandAcquisitionsofDomesticEnterprisesbyForeignInvestorsinChinaAccordingtoInterimProvisionsonMergersandAcquisitionsofDomesticEntcrpriscsbyForeignInvestors,therearctwotypesofmergersandacquisitionsofdomesticenterpris
2、esbyforeigninvestors.OneisEquityMergerandAcquisition;theotherisAssetMergerandAcquisition.Bothofthemwillbediscussedbelow.TheConceptofEquityMergerandAcquisitionWhatisEquityMergerandAcquisition?Mcrgcrsandacquisitionsofadomesticenterprisebyforeigninvestorsshallmea
3、nthatforeigninvestors,byagreement,purchaseequityinterestfromshareholdersofstate-ownedenterpriseswithnoforeigninvestmentorsubscribetotheincreaseintheregisteredcapitalofthetate-ownedenterprisewiththeresultthatsuchstate-ownedenterprisechangesintoaforeigninvestmen
4、tenterprise,whichiscalledEquityMergerandAcquisition.ltisverysimpleinpracticeandiseasytodeterminethepriceoftheequity.TherearetwokindsofEquityMergerandAcquisition,too.Oneisthattheforeigninvestorsagreetobuytheequityintcrestofstate-ownedenterprisesdirectlyfromthes
5、tockholders.whichisthesaleoftheequitybetweenthestockholdersandtheforeigninvestors:Theotheristhattheforeigninvestorsagreetobuytheincreaseintheregisteredcapitalofstate-ownedenterprises,whichisthesaleofthestockbetweenforeigninvestorsandthetargetenterprises.Therea
6、resomefeaturesinEquityMergerandAcquisition.Firstly,thetargetenterpriseofEquityMergerandAcquisilionisacompany-systementerprise-So-callcclcompany-systementerprisesarcthatenterprisesaresetupinaccordancewiththecompany1aworreformedenterprises.Thetargetenterprisesof
7、AssetMergerandAcquisitionarecompany-systementerprisesaswellasnoncompany-systementerprises,butthetargetenterprisesofEquityMergerandAcquisitionareonlycompany-systementerprises,bythecompanylaw.State-owedenterprises,collectiveenterprises,contractualenterprises,ven
8、turesexclusivelywithone'sowninvestment,whichhavenotbeenreformedaccordingtothecompanylaw,arenottargetenterprises.Butafterreformedtheycanbethetargetenterprises,too.Secondly,onlytheen