五矿集团收购加拿.ppt

五矿集团收购加拿大诺兰达铝业 Background Noranda aluminum industry is the worlds ninth largest copper producers and the third largest nickel and zinc concentrate production. Belong to the resource-based enterprises. Total assets of $8.2 billion in 2003. China Minmetals Corporation is an international metals and mining corporation committed to providing high-quality services globally, adhering to a development philosophy of “cherishing limited resources and pursue boundless development”. It primarily engages in exploration, mining, smelting, processing and trading for metals and minerals, and is also engaged in finance, real estate, and mining and metallurgic technology, with business scope covering 26 nations and regions in the world. It has 17.7 thousand employees and controls nine listed companies at home and abroad, with total assets amounting to RMB242.1billion Yuan. In 2011, China Minmetals achieved operating revenue of RMB355.2 billion Yuan and total profit of RMB12.765 billion Yuan, ranking No. 169 among the Fortune Global 500 and No.4 among metal companies. The purpose Turn Minmetals from trade type enterprise to the transformation of resource-based enterprises Good for Minmetals to base on the Canada market successfully and expand the market share Enhance their strength and reduce competition Minmetals financial condition In 2003, Nolan amount to the total assets of $8.2 billion In 2004, minmetals is the total assets of $4.01 billion, Only half of Nolans assets. Whats more, Minmetals asset-liability ratio is as high as 69.82%, Its own funds are limited. Main sources of capital Finance The loan syndication(辛迪加贷款） Led by China development bank, United Nations lending syndicate composed of many giant Banks Minmetals melting by the $4 billion is all provided by state-owned Banks Financing risk is big Acquisition process In July 2004,China Minmetals launched nearly $6 billion acquisition of Canada Noranda aluminum, citi bank as a financial adviser In the same year in