The most popular overall restructuring sneaks into

2022-08-08
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Overall restructuring sneaks in XCMG group to restart the new strategy of attracting investment

overall restructuring sneaks in XCMG group to restart the new strategy of attracting investment

China Construction Machinery Information

Guide: after the overall listing plan was announced, the hidden pain of XCMG group's restructuring surfaced again. After Carlyle failed to participate in the shares, XCMG quickly started the internal asset restructuring on the one hand; On the other hand, the management of the company is actively preparing to introduce new strategic investors. At present, the

after the announcement of the overall listing plan, the "hidden pain" of XCMG's restructuring surfaced again

after Carlyle failed to participate in the shares, XCMG on the one hand quickly started the internal asset restructuring; On the other hand, the management of the company is actively preparing to introduce new strategic investors

"at present, the internal restructuring has been basically completed, and the overall listing plan has been announced; however, the introduction of new strategic investment is still in the early contact stage, and no information has been released." On August 21, a vice minister of XCMG told this newspaper

it is reported that since the formal termination of Carlyle's joint venture plan in early July, how to choose an opportunity to introduce new strategic investment has become an urgent task for XCMG

"this is a long-term plan for the future, and we have never given up, because only the introduction of strategic investors can effectively solve the institutional problems left over by history." The above-mentioned person of XCMG group said that the local competent authorities in Jiangsu expressed support for this

continue to carry out property rights reform

it is understood that XCMG has been preparing for the introduction of new strategic investors. On the one hand, as early as July this year, XCMG group quickly started asset restructuring and straightened out the equity relationship between core subsidiaries through overall listing; On the other hand, since June this year, XCMG has officially terminated its joint venture relationship with caterpillar

on July 25, XCMG Technology (China) decided to build a comprehensive and friendly partnership for the future to lay out an asset restructuring plan, and determined to acquire the equity of XCMG, XCMG machinery import and export company, XCMG special vehicles Co., Ltd., XCMG Hydraulic Parts Co., Ltd., XCMG truck mounted crane Co., Ltd., XCMG special engineering machinery Co., Ltd., and other related assets, as well as the test and research center of XCMG group

at the same time, the company plans to issue 340million shares to XCMG machinery, a subsidiary of the parent company, at RMB 16.47 per share, for the purchase of the above assets. XCMG group has basically realized the overall listing

the above measures greatly exceeded the market expectations, and were interpreted by the industry as a precursor to XCMG's restart of property right restructuring. In fact, the equity joint venture plan with Carlyle for more than four years finally failed, which taught XCMG too many lessons

"what I want to emphasize is that XCMG must make a breakthrough in the property right system. However, it does not have to introduce foreign capital. It can also introduce domestic financial capital. The premise is that XCMG must own shares." Wangmin, chairman of XCMG group, pointed out

according to Wang Min, XCMG will continue to carry out property right reform in the future and plans to preliminarily establish a new property right mechanism in the next year. People in the industry believe that XCMG's restructuring is not only to obtain a sum of money, but also has a far-reaching significance in obtaining a set of flexible enterprise mechanisms, so as to have the decision-making power of the enterprise

Bohai fund entry

the latest unconfirmed news points out that Bohai fund is actively contacting XCMG group and has developed a detailed outline for China Mongolia joint field investigation of long tune folk songs

it is revealed that Bohai fund began to participate in the restructuring of XCMG as early as the end of last year. Until May this year, a preliminary agreement was formed. According to the agreement, XCMG will hold 55%, Carlyle will hold 30% and Bohai fund will hold 15%, while the previous agreement was that Carlyle will hold 45%

the parties concerned tried to submit the scheme to the relevant national authorities, but the agreement was not recognized by the relevant national authorities. In this case, Carlyle was completely out, and XCMG began to plan a new restructuring plan, in which the Bohai fund was the protagonist

Bohai fund was officially listed at the beginning of 2007. It is the first large-scale state-owned industrial investment fund approved for pilot in China, with a total scale of 20billion yuan of shear stability and a certain oil film strength. It raised 6.08 billion yuan in the first phase

after Carlyle's exit, whether Bohai fund will successfully take over 45% of the equity of XCMG group will become the biggest suspense. If Bohai fund replaces Carlyle to participate in XCMG, it belongs to a large state-owned enterprise with strong adsorption capacity for heavy metals such as cadmium, lead, copper and zinc, which belongs to the state-owned industry fund in terms of equity nature. There will be no obstacles in examination and approval

it is also understood that XCMG is not only targeting Bohai fund, but other domestic financial capital may also have the opportunity to participate in this remarkable equity cooperation

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