In China, almost all acquisitions of state-owned enterprises (SOEs) are complicated by the fact that the deal is statutorily required to go through a public listing and auction process designed to safeguard the disposal of state assets, regardless of whether it is structured as an equity or asset transaction.
Managing the auction process
Buying a state-owned enterprise can be a challenging ordeal for a foreign acquirer. To navigate the auction process successfully, a bidder must understand how it is structured and devise a strategy
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