The Target Enterprise Value Assessment Of Carlsberg’s Acquisition To Chongqing Brewery

Since 2001, China officially joined the world trade organization(WTO), opened the prelude to China’s economy and fully integrate into the world economy, China’s economy has also been a great opportunity for development, China’s securities market to gradually grow up. Exposure to the wave of global economic integration Chinese companies have taken advantage of the wave of mergers and acquisitions added to the world among the acquisitions of enterprises are increasingly emerging, mergers and acquisitions among enterprises is gradually developing into a trend. You can make the market through the acquisition of the optimal allocation of resources, however, successful implementation of the acquisition, the purchase price is largely determined by the acceptability unreasonable purchase price may result in the acquisition can not be successfully implemented. How to properly value, a reasonable forecast of the target company’s mergers and acquisitions have become the key to the success of the purchase.Related to business valuation studies, foreign countries have a relatively complete evaluation theory. But the theory about the valuation in our late start, related research lags behind. But with the gradual deepening of China’s participation in globalization, rapid development of China’s economy, the theoretical study on the management and evaluation of enterprise value gradually attracted people’s attention. This selection of the applicability and acceptance of relatively high discounted cash flow method, the method used to evaluate not only the enterprise to achieve the internal growth of investment projects have also been used to evaluate progress toward external growth investments. Meanwhile, theoretically speaking, according to the expected benefits to be evaluated to assess the value of the enterprise, the relevant parties to be traded easily accepted.Article tries from mergers and acquisitions in the beer industry view, the acquisition of the beer in dustry typical case- Carlsberg Chongqing Brewery acquisition as a case, the use of discounted cash flow m ethod for valuing Chongqing Beer Group. During the evaluation, a more detailed description of the selectio n, analysis and evaluation indicators. Finally, the evaluation results were analyzed, and certainly the conclu sion of this article.I hope this article by exploring for, thereby hoping to put China’s beer industry mergers and acquisitions from different levels of depth of analysis, and thus starting summarize success Carlsberg acquisition strategy. At the same time wish to contribute to the prosperity of China’s beer industry, as well as other area s of the acquisition programs can learn from practical application in the future for some time.