Thursday, 19 October 2017
||Registration and refreshments
China outbound M&A: Better directions
Chinese corporates have eased their two-year buying binge, as regulators tighten up on capital outflows. Yet deals are still being done, as acquisitive Chinese groups pursue their strategic expansion goals with greater sophistication. Our panel of experts analyses the trends in dealmaking and forecasts upcoming developments.
- What factors are shaping outbound M&A in 2017? What is the outlook for 2018 and beyond?
- How have government policy and initiatives affected deal flow? What are the new drivers
- Is growing protectionism in the West threatening Chinese outbound acquisitions?
- What role does private equity play in the Chinese global buying spree?
Inbound M&A: Resurgent interest
Foreign investors' appetite for China is rebounding, driven by a weaker yuan, a supportive policy, and the allure of the buoyant Chinese consumer market. With valuations high and an increasingly challenging operational environment, savvy foreign investors are adapting with buy-and-build strategies and new perspectives on China's role in their corporate expansion blueprint. Our panel of professionals discuss and debate the best strategy for investing in China.
- How has inbound deal flow shifted this year? What sectors are attractive for foreign investors?
- How have foreign companies adjusted their China growth strategies?
What are the latest PRC regulatory shifts, and how are they facilitating inbound M&A deals?
- What challenges do foreign investors face when working with Chinese partners, and how these can be resolved?
One Belt One Road: The next wave of M&A opportunities?
The Chinese government's One Belt One Road (OBOR) initiative has gathered momentum, with increasing investment in the 66 participating countries. Supported by favourable policies, Chinese conglomerates are actively seeking M&A opportunities in various sectors in order to build their global footprint. Will this fuel the next wave of M&A opportunities? Our panel of professionals share their views on the outlook and the opportunities.
- What are the drivers for the new opportunities?
- Where are the most attractive targets?
- Which sectors might see more synergy with the OBOR initiative?
- What are the key challenges when entering new and emerging markets?
Private equity and corporates: Bridging the gap
Private equity firms are amongst the most active participants in M&A in China. In pursuit of larger buyout deals and investments in specialised industries, both in China and abroad, Chinese strategic investors have proved to be a natural partner. For corporate investors, private equity firms can help navigate mounting regulatory hurdles, achieve access to attractive deals, and help with post-integration issues and value creation. However, while these partnerships look convincing on the surface, differences in expectations, disputes over operational management, and failure to reach agreements mean plans can go awry. A panel of seasoned GPs and corporate leaders discuss:
- How can private equity support Chinese M&A? What are the benefits of GP/corporate partnerships?
- What are private equity firms' expectations? Do global and local funds have different perspectives?
- What are the differences in expectations and interests in a win-win partnership, and how can they be minimised?
- Case study: Key lessons learnt and tips for success.
Deal Financing: Get sophisticated, get creative
Chinese buyers are becoming increasingly creative in the way they finance their overseas acquisitions. Apart from offshore loans, some buyers are leveraging overseas assets to raise capital through equity and bond issuance. They are also partnering with a variety of players including private equity and asset management companies to debt funds, for funding, as well as, expertise in managing the acquired assets. With deal financing getting more constrained, deals are becoming more complex, dealmakers are finding the landscape even more challenging. Our panel of senior professionals weigh the options.
- What are the new financing trends in China?
- What financing challenges do Chinese companies face, and can these can be overcome?
- Is building an offshore platform now more important? Is Hong Kong still the preferred destination?
- How to creating the win-win partnerships with private equity funds?
- How to best use credit and mezzanine funds?
Tech M&A: The next phase
China's economic transition to consumer- and innovation-driven growth remains a key driver in the TMT sector. Despite recent slower deal flow due to regulatory scrutiny, the sector is set to flourish in the long term, supported by an increasingly sophisticated consumer base, official support for smart manufacturing, and dazzling innovation in disruptive technologies. Our panel of tech-savvy dealmakers discuss:
- How does dealmaking differ from last year?
- Will the accelerating IPO market slow the appetite for M&A?
- What new areas are Chinese conglomerates looking at?
- How to access deals amid intense competition and skyrocketing valuations?
||Networking coffee break
Investing in the healthier lifestyle of Chinese consumers
Chinese consumers have adopted a healthier lifestyle in recent years. This has driven an appetite for well-being products and lifestyle services, ranging from air purifiers, health foods, sports services, and higher-quality healthcare. Local conglomerates, global corporates, and private equity investors have all raced to capitalise on this growing demand. How will the situation play out over the next 5 years? Prominent investors highlight the sectors and strategies that best access the opportunities.
- What consumer trends are driving M&A activity?
- What sectors contain the most attractive targets, and where are they?
- What are the key factors for deal sourcing, and what are the challenges?
- Will the increasingly competitive landscape lead to industry consolidation?
Winning strategies for M&A: From deal sourcing and negotiation to post-merger integration
M&A rationales always look persuasive, but many transactions fail to deliver real growth and unlock true potential value. Too often, acquirers fail to create synergies, identify risks early on, or tackle them promptly and effectively. Our panel of professionals share proven best practices on each milestone towards truly successful M&A, from deal sourcing and due diligence, through negotiation, to post-merger integration.
- How can you identify the targets that fit your corporate growth strategy and create synergistic value?
- What are the common pitfalls in the M&A process?
- The 100 day plan: Does it still work?
- How to deal with cultural differences?
|Closing remarks and end of conference