Research On The Risk And Supervision Of "nested" Leveraged Buyout Of Huiyuan Communication

In recent years,based on the rapid development of the capital market,the popularity of leveraged buyout has brought about the chaos of the market order.I believe that some of the recent famous cases have also attracted wide attention from all walks of life.For example,the battle of Bao Wan,Bao can group through the risk of the lifting of Vanke,and also nested the multi-layer management plan to buy.At the beginning of the year,Zhao Wei tried to leverage the purchase of Wanjia culture.By way of lending funds and equity pledge funds,the lever was magnified infinitely,plus the star leverage effect of Zhao Wei,which was finally stopped by the CSRC.This makes us aware that many enterprises regardless of whether it has leveraged party strength,want to use a variety of walking a fine line,drilling legal and regulatory loopholes,and even illegal behavior to use LBO acquisition convenient advantage,meet the strong desire of speculative arbitrage.Speculative arbitrage is popular in the capital market,and the leverage ratio is bigger and bigger.It also creates some new leverage means,such as nested leveraged buyout in this paper.These leveraged measures reflect the problems of high risk and regulatory loopholes.This paper takes the listed companies "Huiyuan communication" by Guangzhou Hui Fu on acquisition of the case as an example.Expose in limited partnership coat,plan funds route through information management level of priority inferior investment,and information management after the poor investor behind it may hide other contributors such slightly complicated nested leverage new gameplay.By ripping out layers of leverage and nested funds,we see more of the huge risks behind this approach and the loopholes that regulators have in this regard.This paper argues that the "nested" LBO hidden behind the actual control of risk loss,reorganization and business failure and fund,at the same time,regulators should control for leverage,strengthen information disclosure,standardize the financing tools,to strengthen the "cash acquisition" supervision and strengthening the asset restructuring related parties and other aspects of penetrating supervision.Therefore,this article aims to disclose the risks of nested "leveraged buyout" through the typical case of Huiyuan communication,and put forward some targeted regulatory proposals.