中国粮食企业跨国并购研究-中国政法大学MBA.DOC

论文编号： 中国粮食企业跨国并购研究 ——基于中粮集团并购案例 A Study on Cross-border MA of Chinese Foodstuffs Companies ——Based on COFCO MA Case 中国政法大学研究生院 二○一六年三月 中国粮食企业跨国并购研究 ——基于中粮集团并购案例 摘 要 随着全球粮食库存不断下降，世界各国都将粮食安全提升到国家安全的高度。在中国，城镇化造成的耕地和农村劳动力的显著减少，以及由消费升级所带来的粮食需求的增加，已让中国粮食供需失衡的情况持续了近十年。2014年1月19日中央政府颁布的1号文件中就明确表示，际市场可以国家粮食安全提供。然而，当前中国粮食进口主要由ABCD四大国际粮商主导，这将对中国的粮食安全造成极大隐患，中国政府急需一家拥有自主采购平台、能与ABCD四大粮商相抗争的粮食企业。在此情形下，中粮集团有限公司（以下简称为中粮集团）作为中国粮食产业的领军企业走出国门，开启了并购之路。2014年2月至4月，德拉宝被粮购，成为与ABCD四大粮商相匹敌的第五大国际粮商，粮集团被为并购驱 此次并购是中国农业走出去的重要实践，此前的粮食企业境外投资规模较小，且多为海外屯田的初级模式，中粮集团等大型粮企也试图开展跨国并购，但因经验不足以失败告终。因此，本文依据中粮集团此次并购的成功经验，从影响其并购决策的宏、微观因素，实施并购所采取的恰当策略，到并购面临的风险及对策进行一一分析，为后文的案例分析提供必要的理论依据。第二章，陈述中国粮食企业跨国并购的背景，介绍中国农业走出去的现状，以及跨国粮商全球发展的形势。第三章，第四章，指出了中国粮食企业跨国并购可能存在的政治、经济、自然和管理风险，分析本案例中粮集团并购的具体风险，从政府和企业层面提出对策建议。最后得出结论， 关键词：粮食企业；粮食安全；跨国并购；走出去战略 Abstract With the global grain stocks , all countries in the world will enhance food security to the height of national security. Cause of cultivated land in China, urbanization and rural labor force significantly reduce, and upgraded by consumption brought about by the increased demand for food, the situation of Chinas grain supply and demand imbalances have lasted for nearly a decade. On January 19, 2014 China promulgated by the central government made it clear in No.1 files that we should make full use of the international market to protect national food supply security. However, the current Chinese food imports mainly dominated by the ABCD four international food dealer, it will caused great hidden danger for Chinas food security problem. The Chinese government urgently needs a Chinese company who has their own procurement platform and can fight with ABCDs. In this case, COFCO, as the leading enterprise in Chinas food industry, started its road to make acquisitions abroad. During February to April in 2014, COFCO successively make investment in Nidera Company and Hong Kong Noble Agriculture. After that, COFCO becomes the fifth largest international grain enterprises which