Performance Analysis Of Zoomlion’s Acquisition Of CIFA In Italy

Transnational mergers and acquisitions is a way for enterprises to achieve their own development by acquiring enterprises from other countries.In recent years,more and more enterprises in China have begun to look overseas in order to achieve their strategic goals of development.Through overseas mergers and acquisitions of excellent enterprises from other countries,Chinese enterprises can quickly upgrade their own technology products,seize the international market,accelerate the pace of internationalization,and achieve strong alliance.The current global economic and trade integration is higher and higher,our government is becoming more and more pay attention to the mutual benefit and win-win results between international,promote enterprises to "go out",and launched the "area","made in China 2025"and other topics,under the support of national policy,construction machinery industry as one of the most important industry of our country’s economic development,but also strategic equipment industry of our country’s modernization construction,one of the most important part of its development potential is huge,there are also many deficiencies,overseas m&a has become the important means to solve the problem of enterprise development in our country.In hunan province is also the most typical of the nation’s construction machinery industry of zoomlion on behalf of the enterprise as the research object,analysis based on the analysis of zoomlion and at that time,the world’s top three giant Italian CIFA process and performance of mergers and acquisitions for reference in other enterprises overseas mergers and acquisitions in the future in our country,the rapid development of construction machinery industry in China has an important significance.In this paper,the first chapter introduces the background and significance of the acquisition case studies,and then through to the domestic and foreign literature,this paper expounds the research methods of this article and analysis of the advantages and disadvantages of this article,the second chapter of this merger cases shows that the concept of m&a analysis of the main theory has carried on the induction and summary.The third chapter introduces the process of the m&a case,including the participants of the m&a,the motivation of the m&a and the design of the m&a transaction structure.The fourth chapter is this article core part,the zoomlion analyze and study the performance of the merger,the first is to analyze financial performance,mainly selected the profitability index,development ability,operation ability and solvency indicators,then use the economic value added(EVA)evaluation method was analyzed,and compared with the whole construction machinery manufacturing industry.After the financial performance analysis,non-financial indicators were also analyzed,mainly market share,strategic objectives and brand value.The fifth part is the shortcomings and countermeasures.To sum up,although there are some shortcomings in this CIFA acquisition by zoomlion,overall speaking,this overseas acquisition by zoomlion is a relatively successful one.