Museum bell announces landmark M&A deal
Print Edition
REPRESENTATIVES of three major companies specialized in mergers and acquisitions ringed a bell at the China Mergers and Acquisitions Museum in Putuo on August 26 for the first time in the international practice to announce each merger or acquisition with a bell.
After the bell-ringing ceremony, the representatives from Shanghai Fosun Group, Beijing Enterprises Group and Shenzhen LeTV Group also discussed M&A trends in China with about 100 participants.
The Shanghai Office of Financial Services endorses the development of a M&A business center in Putuo District to offer better services and environment, said Zheng Yang, director of the office.
He said he hopes the companies that ring the bell would not forget the risks and their social responsibilities. Shanghai welcomes more enterprises to ring the M&A bell in Putuo.
Shi Xiaolin, the Party Secretary of Putuo District, said the district wants to cooperate with more companies through this platform and he hopes more Chinese companies can show their excellence and accomplishment to the world by ringing the bell.
Putuo authorities are promoting the development of financial services and intelligent manufacturing in the district during the city’s 13th Five-Year Plan period (2016-2020), said Zhou Minhao, mayor of Putuo District.
The M&A bell at the museum is 3.2 meters high, 4 meters in diameter and weighs 5 tons. Only a merger or acquisition valued over US$1 billion or with a global impact can be celebrated by ringing of the bell, according to Wang Wei, chairman of the China Mergers and Acquisitions Association.
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