Liquor industry merger and acquisition time window open lifted restrictions on short-term impact
Foreign ownership restrictions on domestic famous liquor is about to open. According to the national development and Reform Commission, Ministry of Commerce released after the "Industrial Catalog for foreign investment (2015 Revision)", which abolished the restrictions on foreign capital to enter the famous liquor in the equity ratio of the 2011 version, so as to more channels of funding sources through the policy threshold.
This new policy, means that the state allows the foreign legal person taking control of Chinese famous liquor enterprises. Industry experts said, the liquor industry depth adjustment in the industry has been through, the bottom of the cycle, a reasonable valuation, now is a good time to liquor acquisitions.
Jin Yufeng (senior wine marketing, business management agencies of the interactive meaning)
Xiao Zhuqing (senior wine marketing expert, former Wahaha Group Planning Director):
Jin Yufeng: This is obviously one of the good news of the liquor industry, let go of this policy, for general industrial capital, investment capital, foreign capital and other large-scale deep involvement in the liquor industry has cleared the last obstacle. At present, although suffered a hitherto unknown market turmoil, but compared with most of the industry, the liquor industry profitability, return on assets still have obvious advantages, including foreign investment attraction of foreign capital is still great. Especially with the development of the industry into a deep correction, in 2015 after the second tier wine enterprises under more said of an aged person, funds face more severe, wine enterprises for foreign investment will be increased. However, the famous liquor in foreign ownership restrictions liberalized, if you stand on the industrial capital perspective, the impact will not be too big, because from the industrial capital, whether it is Te A Jill or MOET & CHANDON Hennessy, their current performance is not very ideal. But if it is from the capital, financial capital investment point of view, does not rule out some big investment banks and PE involved in the integration of China liquor industry to the.
Xiao Zhuqing: the current global capital looking for increasing the value of the place, and Chinese consumption will be the next engine of economic development, the foreign capital to enter the Chinese big spending areas, expectations are growing. Foreign investment not only bring in money and talent and energy, bring together to participate in the operation of the new mechanism, integration, and by the investor itself or in the experience of other industries, and more business resources.
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