13 December, 2015
Baker & McKenzie, in collaboration with Shanghai Putuo M&A Financial Agglomeration District, hosts "Invest in Europe and the Belt and Road Initiatives" seminar to help companies assess opportunities along the Silk Road Economic Belt
Baker & McKenzie to sign a cooperation memorandum with the Shanghai Putuo M&A Financial Agglomeration District to provide advisory service on cross-border M&A transactions.
The Shanghai Putuo M&A Financial Agglomeration District emerges as a key zone for China's cross-border M&A activities
Shanghai, China, 11 December 2015 – Baker & McKenzie hosted a seminar on "Invest in Europe and the Belt and Road Initiatives", with the support of the Shanghai Putuo District and the Shanghai Putuo M&A Financial Agglomeration District and in cooperation with leading Chinese companies. The event was held at the JW Marriott Hotel Shanghai Changfeng Park on 10 December.
The seminar was well attended by senior executives from among the Firm's clients and other companies that are looking to explore new business opportunities brought by the Belt and Road Initiatives (B&R). Baker & McKenzie partners from Germany, United Kingdom, Spain, the Netherlands and China discussed the latest regulatory developments and market trends affecting investments into Europe, the legal risks associated with cross-border transactions, and what Chinese companies need to do to mitigate those risks that are often critical to the success of M&A transactions. Representatives from some of China's most elite enterprises joined the discussion and shared with the audience their experience in investing in Europe and cross-border transactions.
"The new Silk Road provides ample of opportunities, particularly for businesses in the trade, tourism, infrastructure, energy and banking & finance sectors. Yet, it is not without challenges, given the considerable economical, cultural and legal divergences among the 18 Asian and European countries that form part of the Road," Danian Zhang, Chief Executive of Baker & McKenzie's Shanghai office, said. "Europe has emerged as one of China's top investment destinations, with the United Kingdom, the Netherlands and Germany among the top five recipients in 2014. This seminar is a direct response to our Chinese clients' growing interest in the European market."
Speaking at the seminar, Mr. Shaojun Fan, Deputy Mayor, the Shanghai Putuo District, said: “We are aiming to build Shanghai Putuo M&A Financial Agglomeration District as a major platform with global influence by 2020 providing financial service for international and domestic M&As. We will continue to promote the combination between industry and finance, and explore the spillover effect of the Agglomeration District. With strong footprints in Shanghai, we are bracing ourselves to serve the whole country and the world.”
After the event, the delegates visited the Museum of Mergers and Acquisitions which is located in the Shanghai Putuo M&A Financial Agglomeration District. The museum is the first of its kind in the world and it presents well-known M&A cases by companies around the world.
For the first nine months of 2015, global M&A reached USD3.41 trillion, and China contributed to more than 10% (USD384.3 billion) Asia overtakes Europe in targeted M&A volume this year, CNBC, 6 October 2015. Home to the Shanghai United Assets and Equity Exchange and many high-tech companies and financial institutions, the Shanghai Putuo District is fast-becoming a key incubator of China's cross-border M&A activities. The Putuo Exchange has been leading in M&A transaction volume among other such exchanges in China, namely: China Beijing Equity Exchange, Tianjin Property Rights Exchange, and Chongqing United Assets and Equity Exchange. Shanghai's Putuo reaches out to global business world, China Daily, 1 September 2015
The Shanghai Putuo M&A Financial Agglomeration District was inaugurated on April 28, 2014. The district is to provide Chinese and multinational companies a platform from where they can access the latest market intelligence as well as financial and legal advice for their international M&A transactions. Ninety percent of companies in the district are small or medium-sized, and most are privately owned. The district is also home to 180 high-tech companies and a number of high-tech parks. The Shanghai branch of China Mergers & Acquisition Association has settled in the district, and China Construction Bank, Bank of China and SPD Bank have all set up branches to manage M&A business there. Besides, a total of 140 equity investment and management practices are also located in the district. Shanghai's Putuo reaches out to global business world, China Daily, 1 September 2015
Baker & McKenzie also signed a cooperation memorandum with the Shanghai Putuo M&A Financial Agglomeration District yesterday and joined the first batch of elite financial institutions and advisors to provide advisory service on cross-border M&A transactions to Chinese and international companies. Baker & McKenzie is ranked among the top 10 M&A legal advisors in the world and is the first international law firm licensed in the Shanghai Free Trade Zone to advise on domestic Chinese law through the Joint Operation setup.
"When it comes to seizing new market opportunities to enhance our offering to clients, we like to think of ourselves as a leader – as ahead of the curve. Baker & McKenzie has the world’s largest M&A practice, and together with our strong geographical coverage along the One Belt One Road countries – I would say handling complex, cross-border M&A transactions plays to our strength." Zhang added.
For further information, please contact:
Jamie Kar, Asia Pacific, Baker & McKenzie
jamie.kar@bakermckenzie.com
