用信托解决方案化解mbo困局（Resolve MBO dilemma with trust solutions）.docVIP

用信托解决方案化解mbo困局（Resolve MBO dilemma with trust solutions） Resolve MBO dilemma with trust solutions Li Mingzhang, Hu Jian [China Foreign Economic Relations Trade Trust Investment Corporation] Since the trust law was put into effect in October 1, 2001, the measures for the administration of trust and investment companies and the Interim Measures for the management of trust funds of trust and investment companies have been promulgated in succession. The trust system can be applied in the management buy-out (MBO ManagementBuyOut), of course, with the management of listed companies to buy, corporate shareholders information management measures the promulgation of corporate mergers and acquisitions will have gradually standardized, MBO space to use MBO in the market will become more and more widely. External environmental constraints plagued MBO Referred to in Chinas legal trust is that the trustee to trustee based trust, entrust their property to the trustee, the trustee according to the wishes of the client in its own name, for the benefit of the beneficiary or for specific purposes, manage or dispose of behavior. Trust is different and the principal is the largest trust is conducting their affairs in the name of the trustee, and the trustee must be approved by the relevant departments of institutions engaged in trust business, it is because of these two points, the trust can solve the MBO qualification, the main change and centralized management etc.. MBO (ManagementBuyOut) refers to the Target Corp managers utilize the financing capital to buy shares in the company, so as to change the power structure and assets structure of ownership structure, control of the company, so as to achieve the purpose of reorganizing companies and obtain the expected return of a takeover. MBO often leveraged buyouts in various forms of financing. In general, the MBO is divided into three phases: first, management raises money and designs incentives. In general, the senior managers of the