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大同翻譯公司關鍵字：MBO from the formation of background, divided into two categories, one is the "owner of the return MBO", China's economic專業翻譯公司服務最好的 reform process in the early years there were a large number of private enterprises and collective enterprises to facilitate the entrepreneurs to operate, not all collective Hard wore to the collective "red hat", with the deepening of economic專業翻譯公司服務最好的 reform, the development of enterprise property right system reform, these entrepreneurs have surfaced using MBO, put off the "red hat", a real sense of business專業英語翻譯公司科技文件翻譯哪里最好 owners The "return", such as Beijing Stone, Guangdong Midea, etc.; the other is "owned MBO", state-owned capital in the domestic industry正規翻譯公司公證處翻譯蓋章 to adjust the general competitive industries out of context, some state-owned enterprises led to the development of enterprises made outstanding contributions to growth, while familiar with the case of business專業英語翻譯公司科技文件翻譯哪里最好 and industry正規翻譯公司公證處翻譯蓋章, local government政府許可的定點正規翻譯公司 contribution in order to reflect the history of management and maintain the sustainable development of enterprises, in Guotuiminjin adjustment, the state-owned shares by way of transfer to MBO management, such as Yutong Bus, Ordos. Youyi state-owned enterprises listed on both the management buyout of concern. Shares of listed companies in China are divided into tradable shares and non-tradable shares, outstanding shares through a public issuance of shares, non-tradable shares by the promoter of state-owned shares and legal person shares constituted. Caused by different distribution of both the market price of the huge cost difference, and therefore can not determine the uniform offer price can not be developed using the West's offer to acquire securities frequently used ①; the other hand, China's "acquisition of listed companies management approach" Offeror holds 30% stake in the target company, if you choose to continue holdings tender offer must be taken only way, so that management can actually negotiated transfer of non-tradable shares, rather than full tender offer to achieve the target company's actual control. Although the occurrence of an agreement to acquire ② will bring a lot of insider trading, but still non-agreement to acquire the outstanding shares of state-owned shares and legal person shares only transfer channel, and MBO transactions is precisely this part of the equity. Basic domestic MBO transfer to the main agreement, the basic reference pricing net asset per share targets, because the Ministry of Finance which expressly provides that: "Limited exercise of state-owned shareholders equity, the transfer price shall not be less than the net assets per share." (State-owned enterprises of the [1997] No. 32), but the actual operation of the transfer price of corporate shares is often on the basis of the net assets transferred, and state-owned shares transfer price is
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