合资并购常用英语

DocumentationandDueDiligence文件提供和尽职调查M&AinChina并购在中国Prelude序言DocumentationandDueDiligence文件提供和尽职调查ACaseForProperDocumentation案例：适当提供文件1Documentation•RespectfortheRuleofLawinChina•遵守中国法律•AGentleman’sAgreement?•君子协定？•Documentation–mandatoryunderlaw?•提供适当文件：法定义务？CRITICALDOCUMENTS2DocumentationDocumentationisdrivenbydealstructure:TypeofTransaction•Assetacquisition•typeofstructure•typeoftargetinvestmentvehicleKeyAcquisitionDocumentation•Saleandpurchaseagreement(sometimesknownas“assetacquisitionagreement)•Equityinterestacquisition•Saleandpurchaseagreement•Subscriptionagreement•Equityinterestacquisition(bywayofnewsubscriptionofequityinterest)CRITICALDOCUMENTS3DocumentationTypeofTargetInvestmentVehicle•Wholly-ownedforeignenterpriseKeyConstituentDocumentation•Articlesofassociation•Equityjointventureenterprise•Jointventurecontract•Articlesofassociation•Co-operationjointventureenterprise•Jointventurecontract•Articlesofassociation•Jointstockcompany•Articlesofassociation关键文件目标投资机构的类型：•外国全资企业•合资企业•合作企业•股份有限公司关键章程文件：•公司章程•合资合同•公司章程•公司章程关键文件AcquisitionDocumentation-EssentialTermsandConditions-收购协议中的必要条款4DocumentationSaleandPurchase/AcquisitionAgreement(“S&PAgreement”)购买/收购协议•Requirementsunderlaw•法律要求AcquisitionDocumentation-EssentialTermsandConditions-收购协议中的必要条款5DocumentationSaleandPurchase/AcquisitionAgreement(“S&PAgreement”)购买/收购协议WhatneedstobeincludedinanS&PAgreement?收购协议的内容：Contractingparties合同缔约方Listofassets资产清单Equityinterest股份Acquisitioncompletionprocedures完成收购程序AcquisitionDocumentation-EssentialTermsandConditions收购协议中的必要条款6DocumentationSaleandPurchase/AcquisitionAgreement(“S&PAgreement”)购买/收购协议Rightsandobligations权利和责任Breach–liquidateddamages?约定违约赔偿金Disputeresolution争议解决Dateandplaceofexecution执行的时间和地点Governinglaw?法律适用？AcquisitionDocumentation-EssentialTermsandConditions-收购协议中的必要条款7DocumentationSaleandPurchase/AcquisitionAgreement(“S&PAgreement”)购买/收购协议RepresentationsandWarranties陈述和保证条款KeyProvisionsinanS&PAgreement收购协议中的关键条款AcquisitionDocumentation-EssentialTermsandConditions-收购协议中的必要条款8DocumentationSaleandPurchase/AcquisitionAgreement(“S&PAgreement”)购买协议/收购协议Undertakings承诺KeyProvisionsinanS&PAgreement购买协议中的重要条款AcquisitionDocumentation-EssentialTermsandConditions-收购协议中的必要条款9DocumentationSaleandPurchase/AcquisitionAgreement(“S&PAgreement”)购买协议/收购协议Assetlisting–inthecaseofassetacquisition资产清单——在资产收购的情形下KeyProvisionsinanS&PAgreement购买协议中的重要条款AcquisitionDocumentation-EssentialTermsandConditions-收购协议中的必要条款10DocumentationSaleandPurchase/AcquisitionAgreement(“S&PAgreement”)购买协议/收购协议Groupstructure–inthecaseofequityinterestacquisition集团结构—在股份收购的情况下KeyProvisionsinanS&PAgreement购买协议中的重要条款Consideration,Payment/CapitalInjection对价，支付/注资条款AcquisitionDocumentation-EssentialTermsandConditions-收购协议中的必要条款11DocumentationSaleandPurchase/AcquisitionAgreement(“S&PAgreement”)购买/收购协议KeyProvisionsinanS&PAgreement购买协议中的重要条款Indemnity/Compensationprovisions补偿/赔偿条款AcquisitionDocumentation-EssentialTermsandConditions-收购协议中的必要条款12DocumentationSaleandPurchase/AcquisitionAgreement(“S&PAgreement”)购买/收购协议KeyProvisionsinanS&PAgreement收购协议的重要条款GoverningLawandDisputeResolution争端解决和法律适用AcquisitionDocumentation-EssentialTermsandConditions-收购协议中的必要条款13DocumentationSubscriptionAgreement(“SubscriptionAgreement”)增资协议KeydifferencesbetweenaSubscriptionAgreementandanS&PAgreement增资协议和购买协议的重要区别EstablishmentDocumentation-EssentialTermsandConditions-公司发起的文件准备---必要条款14DocumentationSino-ForeignEquityJointVentureContract中外合资经营企业合同•Requirementsunderlaw•法律要求EstablishmentDocumentation-EssentialTermsandConditions-公司发起的文件准备---必要条款15DocumentationSino-ForeignEquityJointVentureContract中外合资经营企业合同EstablishmentDocumentation-ChineseandEnglishversions-公司发起的文件准备---中英文文本16DocumentationEnglishandChineseversions-whichshouldprevail?英文和中文文本-哪份有优先效力？EstablishmentDocumentation-TotalInvestmentAmountandRegisteredCapital17DocumentationMandatoryRatiosTotalInvestmentAmount•US$3millionRatioofRegisteredCapitaltoTotalInvestmentAmount•70%•US$3millionbutUS$10million•50%(subjecttoamin.ofUS$2.1millionwheretotalinvestmentamountislessthanUS$4.2million)•US$10millionbutUS$30million•40%(subjecttoamin.ofUS$5millionwheretotalinvestmentamountislessthanUS$12.5million)•US$30million•331/3%(subjecttoamin.ofUS$12millionwheretotalinvestmentamountislessthanUS$36million)17Documentation法定比例投资总额•小于等于三百万美元注册资本占投资总额的比例•70%•三百万美元到一千万美元之间•50%（例如：当投资总额少于4。2百万美元时，注册资本不得少于2。1百万美元）•一千万美元到三千万美元之间•40%（例如：当投资总额少于12。5百万美元时，注册资本不得少于5百万美元）•三千万美元以上•331/3%（例如：当投资总额少于36百万美元时，注册资本不得少于12百万美元）公司发起的文件准备-投资总额和注册资本EstablishmentDocumentation-CapitalInjection-公司发起的文件准备---资本注入18DocumentationEstablishmentDocumentation-EssentialProvisions-公司成立的文件准备---必要条款19DocumentationArticlesofAssociation公司章程•ProvisionscloselytrackthoseintheJointVentureContract•合资经营企业中与公司章程紧密相关的条款•Boardcompositionanddecision-makingprocedures•董事会的组织和决策程序EstablishmentDocumentation-Sino-ForeignCo-operationJointVenture-公司发起的文件准备---中外合作企业20DocumentationSpecialFeatures特别之处OtherDocuments其他文件21DocumentationInthecontextofanacquisition在收购中的文件内容Resoluti