Dacheng and CMAA Legal Committee Hold Seminar on Leasing Industry M&A

On November 15 2013, a seminar on domestic and overseas merger and acquisition opportunities in the leasing industry and the failure of acquiring ILFC (“International Lease Finance Corporation”) was held jointly by Dacheng and the LegalCommittee of China Mergers & Acquisitions Association (“CMAA”) at the headquarters of Dacheng. Over 40 people from CMAA, Dacheng and elsewhere attended the seminar. Dacheng managing partner Wang Zhongde addressed to the guests when it commenced and then passed the baton to KuangShuangli and Bai Liang, the two hosts of the seminar. Senior partner KuangShuangli of Dacheng is also a council member of CMAA, deputy director of CMAA M&A Legal Committee and legal counsel for the Leasing Industry Working Committee of China Association of Enterprises with Foreign Investment (“CAEFI”), while Bai Liang is a journalist with China Business News (“Diyicaijingribao” in Chinese pinyin) and secretary-general of China Financial Leasing 30 Forum.

The seminar invited important figures in leasing, M&A and relevant areas to deliver speeches and exchange ideas and experience. These speakers included: Mr. QuYankai, former deputy managing director of CAEFI Leasing Industry Working Committee; Mr. Li Siming, vice president of CAEFI, director of CAEFI Leasing Industry Working Committee and CEO of UniTrust Finance & Leasing Corporation; and Mr. Wang Yi, former vice-chairman of BOC Aviation Pte., Ltd.. Dacheng attorneys KuangShuangli and investment and M&A attorney Gong Haiyan gave well-received lectures on the past and future of M&A in the leasing industry and on the whereabouts of the $500mln deposit in the ILFC acquisition deal respectively. Attorney Zhang Xiaosen, who is also director of the LegalCommittee of CMAA, delivered closing remarks for the seminar.

The attendees reached a consensus that there would be increasing opportunities of domestic and overseas M&A in the financial leasing sector under current circumstances in and outside China, and more business would be created for attorneys.