The case of “Major Assets Reorganization of China Shipbuilding Industry Corporation’” wins “Typical M&A and Reorganization Cases Award”
Issue Time: 2012-01-04 Source：CEA Author：CEA
On December 19, 2011, jointly sponsored by the Shanghai Stock Exchange, the SASAC and the OECD, the “Tenth China Corporate Governance Forum” was convened in Shanghai. Mr. ZHANG Yujun, General Manager of the Shanghai Stock Exchange, hosted the opening ceremony of the forum and the special award presentation ceremony of listed companies’ corporate governance. Participating leaders issued three kinds of awards to the winners: “Board of Directors Award of the Year of 2011”, “Information Disclosure Award of the Year of 2011”, and “Typical M&A and Reorganization Cases Award”. The organizers offered 10 places for each kind of award.
In this appraisal, the case of “Major Assets Reorganization of China Shipbuilding Industry Corporation” ’won the “Typical M&A and Reorganization Cases Award.” Award-winning reasons are as follows: the case created the first civil-military sub-line program in the domestic capital market and effectively implemented the guidelines of military industry’s development, featured with the combination of military and civilian and the integration of military and civilian; based on laws and regulations, the case coordinated and safeguarded the interests of shareholders, creditors, counterparties and other stakeholders, thus protecting the smooth operation of the CSIC; by effectively reducing upstream and downstream related-party transactions, thus creating a typical case for domestic listed companies.
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