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Status of foreign direct investment control law in Spain
Spain is one of the most relevant global players in foreign investment, thanks mainly to its liberalized foreign investment regime. In this regard, Spain is ranked 15th globally and 6th in the EU in the FDI Index and has been considered as the 11th economy more open to foreign investments by the Organisation for Economic Co-operation and Development.
Continue Reading Winds of change in foreign direct investment control in Europe and the Middle East (5) -Spain

西班牙外商直接投资监管法律现状
西班牙主要得益于其自由化的外商投资制度，是外商投资交易的最直接的全球参与者之一。在此方面，西班牙在外商直接投资信心指数的全球排名中位列第十五，在欧洲位列第六，并且被经济合作与发展组织视为对外商投资较为开放的第11大经济体。…
Continue Reading 欧洲及中东地区外商直接投资监管新动向（五）——西班牙

8月16日，中国人民银行（“央行”）发布公告（〔2019〕第15号，以下简称为“15号令”），决定改革完善贷款市场报价利率（即 Loan Prime Rate，以下简称为“LPR”）形成机制。根据15号令，各银行应在新发放的贷款中主要参考贷款市场报价利率定价，并在浮动利率贷款合同中采用贷款市场报价利率作为定价基准。并且，报价行应于每月20日9时前向全国银行间同业拆借中心报价。…
Continue Reading LPR来了，你准备好了吗？——一文看懂LPR改革及对商业贷款协议的影响

并购

许多德国企业都对中国合作伙伴和投资者很有兴趣。通常，德国企业寻求进入中国市场和/或与中国伙伴展开合作。经过了数百项中资对德国企业的投资或收购，市场实践已经发展出一套标准，而该标准在某些方面区别于其他市场。例如，中国投资者（和监管部门）已经接受“重大不利变更”条款（即，给予一方在发生重大不利变更时退出的权利）并非德国市场标准的现实。…
Continue Reading 在德国做生意（二）——公司并购-处理程序

M&A
Many German companies are very interested in Chinese partners and investors. Often, German companies look for entries to the Chinese market and/or Chinese partners for a future co-operation. After hundreds of Chinese investments in – or acquisitions of – German companies, a market practice has developed, a standard that in certain points deviates from other markets: E.g. Chinese investors (and regulators) have come to accept that MAC-clauses (giving a party a right to withdraw in case of a material adverse change) are not market-standard in Germany.
Continue Reading Doing Business in Germany (2) – Corporate M&A – handling the process

一、行业并购趋势
随着中国食品业的发展和成熟我国酒类市场呈稳步向好发展的趋势，产品销售规模继续扩大，行业整体效益明显上升，酒企之间的竞争更加白热化，通过并购的方式实现规模扩张，提高市场份额，巩固行业战略地位，提升行业集中度屡见不鲜。…
Continue Reading 将进酒·酒业并购小谈

By：King&Wood Mallesons

Investment environment in Germany

Germany is one of the world’s most attractive investment destination due to being

  • located in the center of Europe;
  • the fourth-largest economy as well as the second-largest exporter and third-largest importer in the world;
  • an increasingly close trade partner;
  • one of the most technologically advanced countries.

Continue Reading Doing Business in Germany (1) – The big picture

2019年8月7日，最高人民法院发布《全国法院民商事审判工作会议会议纪要（最高人民法院民二庭向社会公开征求意见稿）》（下称“九民会议纪要”），文件第七章专章提到了营业信托纠纷案件。信托制度是极为灵活的，这个大筐“什么都能装”，除第七章之外，九民会议纪要其余章节还有不下10条内容也是营业信托案件常见纠纷，或与营业信托案件有密切关联。…
Continue Reading 结构化信托的优先级受益人与劣后级受益人之间是借款合同关系吗？