Beijing time on October 6 morning news, Reuters quoted informed sources on Friday reported that China National Machinery Industry Group (referred to as SINOMACH) has submitted a tender offer to German competitor MAG Group, showing Chinese companies for mergers and acquisitions in Europe The interest is still not decreasing. According to two sources, Komatsu and two private equity firms have also proposed to acquire MAG's European operations, and seven other companies have proposed the acquisition of Mag's Americas business. A MAG spokesperson confirmed that the company is currently negotiating with potential acquirers, "it is expected to complete negotiations in the fourth quarter." MAG has previously hired Goldman Sachs to help them find buyers, hoping to exceed 500 million euros (about 6.45) The price of the entire company is sold at a price of US$100 million, or the European business is sold for at least EUR 250 million. MAG's annual revenue is approximately 1 billion euros. Last year, the company's earnings before interest, taxes, depreciation and amortization (EBITDA) was €105 million. The company employs approximately 3,500 people worldwide. Prior to this, several Chinese companies, including Shenyang Machine Tool Group, had also intentionally acquired MAG's business, but have now withdrawn from the bid. Since this year, Chinese companies have acquired a number of German companies, including Sany Heavy Industry's acquisition of concrete machinery giant Putzmeister, and Hebei Lingyun acquired Keekert, the world's largest car lock manufacturer. And Shandong Heavy Industries acquired a 25% stake in forklift manufacturer Kion Group. SINOMACH bid for German machine tool manufacturer MAG After Sany Heavy Industry acquired Putzmeister and Shandong A&Q Kaiyi Group's quarter-share stake, another domestic machinery giant extended an olive branch to “Made in Germanyâ€. According to news from Reuters, China National Machinery Industry Corporation (SINOMACC) has formally submitted an offer to German competitor MAG Group. Under the European debt crisis, German companies have fallen into an unprecedented market dilemma, stimulating Chinese companies to accelerate the pace of “Made in Germanyâ€. Chuan Guoji Group negotiated MAG Reuters reported that SINOMACH has submitted an offer to German machine tool manufacturer MAG Group. A MAG spokesperson confirmed that the company is currently negotiating with potential acquirers, "it is expected to complete negotiations in the fourth quarter." The media quoted sources as saying that Komatsu (Komatsu) and two private equity investors The company also proposed to acquire MAG's European operations, and another seven companies proposed to acquire Meg's Americas business. According to the data, MAG's annual revenue is about 1 billion euros. Last year, the company's earnings before interest, taxes, depreciation and amortization (EBITDA) was €105 million. The company employs approximately 3,500 people worldwide. MAG has previously hired Goldman Sachs to help it find buyers, hoping to sell the entire company for more than 500 million euros ($645 million) or sell the European business for at least 250 million euros. Earlier reports showed that several domestic companies had intended to acquire MAG's business, including Shenyang Machine Tool, Dalian Machine Tool Group, Qiqihar Second Machine Tool Group and so on. “Made in Germany†has encountered a market crisis, such as the success of the acquisition of MAG, and the Chinese company’s snake swallow “Made in Germany†will add another example. In the context of the European debt crisis, which has remained unresolved, it seems that it is no longer difficult to climb high. Relevant data, from January to May this year, more than 12,000 companies in Germany went bankrupt, and many brands with decades or even hundreds of years of history are facing difficulties. German companies with weak growth and lack of funds have strong desires to sell, and they are in line with domestic companies that are always coveted by “Made in Germany†and eager for advanced technology and management systems. They are dominated by domestic strong enterprises and aim at mature brands and Outbound M&A transactions of European companies with technology are frequent. In January 2012, China Construction Machinery Corporation Sany Heavy Industry Co., Ltd. and CITIC Industrial Investment Fund (Hong Kong) Consulting Co., Ltd. invested 360 million euros to acquire 100% equity of Germany Putzmeister; in March, Lingyun, a subsidiary of China Ordnance Industry Group Other companies in the group include the world's largest car lock manufacturer, Kay, Germany. In July, Xugong Group acquired a 52% stake in German concrete giant Schwein. This year's M&A case also includes WISCO's acquisition of ThyssenKrupp's tailor-welded board subsidiary, Shandong Heavy Industry invested 700 million euros to acquire a quarter of the German old-fashioned forklift manufacturer KION; cement pump manufacturer Putzmeister Shi Weiying, the world's leading leader in concrete equipment, and Kaiyide, the world's leading manufacturer of automotive door locks, were all caught up in Chinese companies. China's bargain-hunting Europe has a good opportunity? The data shows that the amount of Chinese companies' mergers and acquisitions in Europe in 2011 has exceeded 70 billion US dollars, almost 10 times that of 2010. According to data released by PricewaterhouseCoopers, in the first half of this year, Chinese M&A and equity participation in foreign companies reached US$23.9 billion, compared with US$7.9 billion in the same period last year. Nearly 70% of China's foreign investment has flowed into the energy and raw materials sectors. Among them, when Chinese companies invest in Germany, they focus on high-tech enterprises, and their investment is still increasing. The agency predicts that this year will reproduce the golden window of Chinese companies going out. As Xiang Wenbo, president of Sany Heavy Industry, said, the European debt crisis gave the company more opportunities to acquire overseas. As an industry that relies more on technology than on low-cost advantages in the “Made in China†family, the mechanical industry's ability to develop technology through overseas mergers and acquisitions is a threshold that cannot be bypassed. Therefore, there will be more overseas M&A cases in the future. However, industry insiders also reminded that although the European economy is sluggish, the valuation will be relatively cheap, but domestic companies to Europe to buy more is to focus on their technology and brand, so the valuation judgment should be more cautious. Although domestic private enterprises have the strength of overseas mergers and acquisitions in terms of financial resources, there is still a long way to go to become an international company with certain influence in the world. Foreign economic environment, legal barriers, cultural integration, etc. will all become factors that restrict the success of mergers and acquisitions. Relevant persons from the China-Germany-China Chamber of Commerce said that Chinese companies need to pay special attention to some issues when they go to Germany to buy and sell roads. For example, while ensuring the original employees of the acquired company, they must also increase the number of local employees and maintain or improve the company. The original image and other issues.
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