Legal Research On Foreign Capital Mergers And Acquisitions Of State-funded Enterprisies

The thesis, based on the historic and current situation of foreign capital mergers and acquisitions of state-funded enterprisies, is an analysis regarding major legal issues resulted from the progress of foreign investors mergers and acquisitions of state-funded enterprisies as well as a couple of constructive suggestions for improving the relevant legal institution in China.In addition to introduction and concluding remarks, the thesis is divided into five parts.The Chapter One mainly discusses on the common basic issues of foreign capital mergers and acquisitions of state-funded enterprisies. Firstly, the paper analyses the connotation and extension of an array of important definitions regarding foreign capital, mergers and acquisitions or M&A, mergers and acquisitions of foreign capital or M&A of foreign capital, state-funded enterprisies and foreign capital mergers and acquisitions of state-funded enterprisies, which unifies the research scope of the thesis. And then, according to the perspectives of foreign capital and state-funded enterprisies, the paper explains the reason of mergers and acquisitions of foreign capital and the reason of state-funded enterprisies that take on the M&A of foreign capital.The Chapter Two mainly focuse on two kinds of the modes of foreign capital M&A stipulated by Chinese legislations, or, equity acquisition and assets acquisition that exercised separately on M&A of state-funded enterprisies. And the paper aslo discusses the combination of the two kinds of the modes exercised on M&A of state-funded enterprisies either.The Chapter Three explains the other modes of M&A that are not stipulated in Chinese legislations, including lever M&A of foreign capital that mainly exercised on infrastructure and MBO that mainly depends on establishment of offshore corporations.The Chapter Four explores the major legal issues originated from the progress of foreign capital M&A of state-funded enterprisies as follows, property right of state-funded enterprisies ,consent of possessors, representatives of negotiation, game of decision-making of running the state-funded corporations, limitation of industrial policy, lost of state-owned assets , defence against the foreign capital M&A and risk-taking of the government.The Chapter Five advises that how to improve the Chinese legislations on foreign capital M&A of state-funded enterprisies, including stipulating the principal of foreign capital mergers and acquisitions of state-funded enterprisies, improving the management mechanism of state-owned assets, managing the relationship between foreign capital M&A and economic security and improving the mechanism of the antimonopoly investigation...