Case Analysis On Sunac's Series M & A Cases

Since 2010,along with the economic development,China's real estate industry has developed rapidly and has quickly matured from growth.Under the dual role of macro-policy control and micro-subject self-awareness,China's real estate industry has entered multiple periods of mergers and acquisitions,and the number of mergers and acquisitions has increased year by year.The total amount of mergers and acquisitions,the average amount of cases has increased rapidly,and the occurrence of large-scale mergers and acquisitions has become more frequent.As a typical example,Sunac has a huge amount of mergers and acquisitions,a high frequency of mergers and acquisitions,and the characteristics of its own development.It not only has the general laws of the industry but also has its own particularities,and therefore it is highly representative.This article takes the analysis of the financial and financial series of mergers and acquisitions as an entry point.It first introduces the development history of Sunac and the problems in the development of China before the series of mergers and acquisitions.Then,this article analyzes the motivation of the Sunac series of mergers and acquisitions,and This principle classifies Sunac's series of mergers and acquisitions,sorts out the seemingly unrelated series of mergers and acquisitions,and sorts out the relationships among them;then it analyzes the entire series of mergers and acquisitions,including the evaluation of mergers and acquisitions projects,mergers and acquisitions.Effects,M&A risks,etc.These analyses not only reflect the characteristics of Sunac,but also reflect the commonalities of the real estate industry mergers and acquisitions.Finally,based on the problems found in the analysis,the corresponding countermeasures and suggestions are proposed.This article first discusses the background and research significance of Sunac's M&A.Macroscopically,since 2010,with the continuous rise in housing prices,China's real estate regulation has become more stringent,real estate market policies have been superimposed,liquidity has shifted from ample to tight,and housing prices and land prices have continued to climb.The development environment of real estate companies has become increasinglydifficult;microscopically,The real estate industry has entered a mature stage.As a micro-economic main body,housing enterprises spontaneously achieve their own development through mergers and acquisitions and promote the integration of industries.Under the dual functions of macro and micro,the real estate industry has ushered in.There are multiple periods of mergers and acquisitions,and Sunac is a typical representative.Secondly,this paper deduces the inevitability of China's land transfer system,tax sharing system,land finance and real estate mergers and acquisitions,which is also the innovation point of this paper.Again,this article selects the series of mergers and acquisitions of Sunac from January 2015 to August 2017 as the main body of research,sorting out and summarizing the series of mergers and acquisitions made by Sunac during this period,according to its merger and acquisition motives.Its merger and acquisition cases are divided into three categories.They are classified according to the principles of strategic layout,business transformation,and profitability.They sort out these three types of mergers and acquisitions and discuss the reasons for being sold by the acquirer.At the same time,taking the case of 13 financial and tourism projects of Wanda and the acquisition of LeTV as an example,the link between these three types of mergers and acquisitions was summarized and summarized,and the specificity of the merger and acquisition was pointed out.Afterwards,combining the classification and induction analysis of the Sunac mergers and acquisitions in Chapter 2,the effectiveness and risk of Sunac's M&A were evaluated and analyzed.The key issues in the M&A process were carried out in the three perspectives: pre-,intra-and post-event.Discourse,such as strategy,assessment,financing,etc.Finally,combined with innovations in this paper,we proposed countermeasures and suggestions for financial integration and mergers and acquisitions,proposed relevant suggestions on the risks of China Sunac's M&A discussed above,and put forward our own thinking,again emphasizing the inevitability of real estate industry mergers and acquisitions and financial innovation mergers and acquisitions.