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Wolong Electric - ATB Project

Issue Time:2015-03-25 Source:CEA Author:CEA


By the end of 2012, CEA was entrusted by Wolong Electric Group Co., Ltd. to undertake an appraisal over a major assets reorganization of the client company. The company on the center of reorganization is an old European motor manufacturer - Austria ATB company, which, following ABB and Siemens, is the third largest manufacturer of electrical products in Europe, with assets spreading in fifteen countries on four continents. Its main products include efficient, ultra-efficient and ultra-high-efficiency motors and various engineering motors, widely used in nuclear power engineering, production and refining engineering, environmental engineering, mining engineering, ship engineering and other fields. It has 10 major manufacturing sites scattered in Germany, Austria, Britain, Poland, and Serbia.


In the evaluation process, CEA was engaged fully to the researches and analysis, including assets investigation, pricing, and cooperation with foreign institutions under the Costing Approach on the one hand, and due diligence investigation, comprehensive selection of the discount rate, and consideration of the impact of the tax system on valuation under the income approach on the other hand, particularly conducted an invaluable attempt for valuation of a large multinational corporation’s major reorganization. The formal evaluation report was issued in March 2013, and was unconditionally approved by the Mergers and Acquisitions Committee for Listed Companies of China Securities Regulatory Commission. The completion of the project has significant meaning for China’s listed companies to assess large foreign multinational corporations’ assets that are the targets of reorganization, providing invaluable experiences for handling of similar projects in the future.










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