Mergers & acquisitions and strategic sector
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Mergers & acquisitions and strategic sector

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This presentation by Pascal Dupeyrat is acknowledging the fact that when you try to make an M&A deal, there may be a third party at the table if/when it is considered as part of the strategic sector.

This presentation by Pascal Dupeyrat is acknowledging the fact that when you try to make an M&A deal, there may be a third party at the table if/when it is considered as part of the strategic sector.

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Mergers & acquisitions and strategic sector Presentation Transcript

  • 1. Auteur : Date : Conférence Pascal DUPEYRAT October 31th 2013 Mergers & Acquisitions and Strategic Sectors 1
  • 2. Mergers & Acquisitions and Strategic Sectors Usual business 2 Strategic sector Unusual businessMergers, Acquisitions, Investments
  • 3. State's specific powers 3 Refusals Negotiated agreements Cancellation Monetary sanctions Authorization Mergers & Acquisitions and Strategic Sectors
  • 4. Mergers & Acquisitions and Strategic Sectors Ceramic pan 4 Am i dealing with a strategic sector ? Armored vehicle Chinese Government
  • 5. Mergers & Acquisitions and Strategic Sectors 5 Datas Customer/Military
  • 6. Mergers & Acquisitions and Strategic Sectors 6 Por k Smithfield Food Security Shuanghui International
  • 7. Mergers & Acquisitions and Strategic Sectors 7 More and stronger legislation
  • 8. Mergers & Acquisitions and Strategic Sectors 3 consequences of the presence of strategic sectors : 8 Specific M & A Specific monitoring issues Specific management
  • 9. 01 Specific Mergers & Acquisitions 9
  • 10. Specific Mergers & Acquisitions What makes a merger/acquisition in a strategic sector specific ? 10 Need for an administrative authority
  • 11. Specific Mergers & Acquisitions Administrative authority with unique features 11 Regulations open to broad interpretation Non-public case law High sensitivity to political factors Incestuous State controls Unclear means of appeals
  • 12. 0 2 Specific Monitoring Issues 12
  • 13. Specific Monitoring Issues 13 In legal terms: - Foreign investment ? The core issue : determining the nature of the transaction - Takeover ?
  • 14. Specific Monitoring Issues 14 In institutional terms: - Sector outside or within the scope of public policy ? - Strategic sector ?
  • 15. 0 3 Specific Management 15
  • 16. Specific Management 3 levels of management: 16 Administrative management : Filing the authorization application Waiting for authorization
  • 17. Specific Management 17 Strategic management : Anticipating the forces at play Reducing any competitive risk
  • 18. Specific Management 18 Offensive management : Involving the state Sanctuarise the transaction
  • 19. Conclusion 19
  • 20. Mergers & Acquisitions and Strategic Sectors 20 Source UNCTAD FDI trend
  • 21. Mergers & Acquisitions and Strategic Sectors Geoconomics trends : 21 Shift in the financial balance of power : - Multinational corporations - Investment funds - Sovereign funds
  • 22. Mergers & Acquisitions and Strategic Sectors 22 Huge competition for access to: - Rare commodities - Critical infrastructures - Strategic technologies - Key ressources
  • 23. Mergers & Acquisitions and Strategic Sectors 23 Strategic sector Shift from an endured situation to a mindset partnership
  • 24. Contact : Thank You Pascal DUPEYRAT 24