私募股权投资并购退出模式及策略分析

Analysis on the Mode and Strategy of the Exit of Private Equity Investment via Mergers and Acquisitions

私募股权投资并购退出是当前国内逐渐兴起的新趋势,既符合市场经济由自由竞争发展到集中整合阶段的客观需求,又具有优化产业结构的时代使命。但并购退出在国内总体还处于萌芽阶段,进一步的发展空间还受到不少限制,本文尝试探索符合国内并购退出的几种模式,并有针对性地提出了发展并购退出的初步策略与建议。

The exit of private equity via mergers and acquisitions is a new trend that rises quickly in current China. It not only conform to the objective demand of market economy which develops from free competition to the integration stage, but also has the mission of optimizing the industrial structure. However, the exit via mergers and acquisitions in China is still in the embryonic stage, and there are a lot of constraints for its further development. In this paper, the pa- per actively explores several models of exit of mergers and acquisitions, and puts forward the preliminary development strategy and suggestions for the exit via mergers and acquisitions.