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本文以中航工业西飞并购奥地利FACC为例,对并购过程中目标企业价值评估、融资、并购后的财务管控等问题进行了研究,并提出相应对策,以期抛砖引玉。一、案例基本情况FACC成立于1989年,是从事开发、设计和制造复合材料部件和系统的专业化公司,主要产品包括航空结构构件及系统和航空内饰产品及系统两大类,总部设在奥地利,2009年总资产2.76亿欧元,年销售收入超2.5亿欧元。2009年12月,中航工业西飞成功收购奥地利FACC,取得了FACC
This paper takes AVIC XAC’s Austrian FACC as an example to study the issues such as the target enterprise value evaluation, financing and post-M & A financial control in the process of M & A, and puts forward corresponding countermeasures in order to promote innovation. First, the basic situation of the case Founded in 1989, FACC is engaged in the development, design and manufacture of composite parts and systems of specialized companies, the main products include aviation structural components and systems and aviation interior products and systems in two broad categories, based in Austria, with total assets of 276 million euros in 2009 and annual sales income of over 250 million euros. In December 2009, AVIC XAC successfully acquired Austrian FACC and obtained FACC