深圳國際(00152.HK)終止入股蘇寧易購 業內人士：可理解的市場化決策
7月5日晚間，深圳國際(00152.HK)發佈公吿稱，與蘇寧易購股東方未能就商務合作條件達成最終協議，經綜合考慮各方面因素並通過審慎分析論證後決定終止進行潛在收購事項，但雙方將繼續探索物流業務領域合作的機會。深圳國際表示，終止進行潛在收購將不會對其現有的業務或財務狀況等構成任何重大影響。
這筆高度牽動市場神經的潛在收購交易事項，終於以深圳國資主動棄權的結果落下大幕。
對此，槃生資本CEO、中大諮詢高級合夥人唐夢接受記者採訪時表示，在2月28日的公吿中，雙方對業務協同前景有相對樂觀的描述，但眾所周知，一般涉及業務形態相對比較複雜企業的股權收購流程也會比較複雜，並不會因為願望、初心很美好，就忽視其中對投資落地的嚴謹性和可行性判斷。就其所瞭解的情況來看，雙方簽署框架協議之後，深圳國際與鯤鵬資本就組織了彙集行業、財務、税務、法律、人力資源、法人治理等各類專業人士的龐大盡調隊伍進駐蘇寧開展全面盡調，各方也曾就後續合作進行積極的溝通，但隨着情況的演變，簽訂框架協議時的市場先決條件也發生了有目共睹的變化。最終未能達成交易，是綜合考量了盡調結果、市場實際情況和股東、投資人利益等多方面因素而作出的合理決定，與深圳國際一貫以來重視股東利益的承諾和實際表現都是一致的，也與其一貫的穩健經營風格相符。
高和資本董事長蘇鑫認為，深圳國際終止入股蘇寧易購是一個"可理解的市場化決策"。他表示，深圳國際作為一家在境外註冊、在香港整體上市的紅籌公司，一直以來具有較為完善的法人治理體系和高度的市場化基因，公吿所提及"未能就商務合作條件達成最終協議"的結果並不令人感到意外，蘇寧易購近期股權重大變動事項頻現和資本市場的實際情況一定程度上已為市場打了"預防針"。但這不代表雙方合作的初衷是不合理的。深圳國際作為一家以物流基礎設施投資運營為主業的上市公司，尋求與蘇寧易購合作的最大訴求是探索通過資本工具引入商流和信息流，為其物流基礎設施業務和綜合物流服務業務賦能，這個業務探索方向是值得肯定的，相信不會因為此次合作的終止而停止往這個方向繼續探索。這一點在雙方的公吿裏也都有體現。
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