The exit modes of M&A funds include the exit of listed companies. Initial public offering (IPO); Third-party mergers and acquisitions and exits; Transfer by agreement; Share repurchase of the acquired enterprise. M&A fund is a fund that acquires the control right of the target enterprise by acquiring the equity of the target enterprise, and then reorganizes it to a certain extent, and then sells it after holding it for a certain period of time, focusing on the M&A of the target enterprise.

legal ground

Article 172nd of the Company Law of People's Republic of China (PRC)

Company merger can adopt absorption merger or new merger.

A company absorbs other companies for merger, and the absorbed company is dissolved. The merger of two or more companies to form a new company is a new merger, and the parties to the merger are dissolved.

Article 173

When a company is merged, all parties to the merger shall sign a merger agreement and prepare a balance sheet and a list of assets. The company shall notify the creditors within 10 days from the date of making the merger resolution and make an announcement in the newspaper within 30 days. Creditors may, within 30 days from the date of receiving the notice, or within 45 days from the date of announcement if they have not received the notice, require the company to pay off debts or provide corresponding guarantees.