2008年3月27日摩根士丹利暂停出售中金公司股份_商贸英语

2008年3月27日摩根士丹利暂停出售中金公司股份

文章来源：文章作者：发布时间：2008-03-28 05:30 字体： [大中小]　进入论坛

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由于波动的股市仍在继续影响并购交易，摩根士丹利(Morgan Stanley)已暂停出售所持中国券商中金公司(CICC)的股份。它告诉贝恩资本(Bain Capital)和TPG等参与竞购的私人股本公司，它们的出价过低。

Morgan Stanley has put the sale of its stake in mainland brokerage China International Capital Corp on hold, telling private equity¹ bidders² including Bain Capital and TPG that their offers are too low as jittery³ equity markets continue to take a toll⁴ on deals.

中金公司的交易表明，潜在买家与卖家之间的预期通常会相差何其之远。

The CICC deal provides evidence of just how far apart the expectations of potential buyers and sellers generally remain.

由于可以获得的借贷资金数额大幅减少，收购公司不愿为新交易支付高价，而卖方仍然希望得到6个月之前可能拿到的金额。

With their access to vast sums of borrowed money curtailed⁵, buy-out firms are reluctant to pay top price for new deals while sellers are still hoping to get as much as they would have received six months ago.

从中金公司交易程序启动伊始，相关私人股本公司的高管就表示担心，自己也许会买在最高点。

From the beginning of the CICC process, executives from the private equity firms involved expressed concern that they might be buying at a peak.

摩根士丹利暂停拍卖所持中金公司34.3%股份，将使问题复杂化，因为这家投行已计划与上海的华鑫证券(Fortune Securities)达成新的伙伴关系。

Putting the auction⁶ for Morgan Stanley’s 34.3 per cent stake in the brokerage on hold will complicate⁷ matters as the bank had planned to seal a new partnership⁸ with Fortune Securities in Shanghai.

中国政府已经告诉摩根士丹利，它在中国不能同时拥有两家投行业务合资企业。摩根士丹利曾希望，所持中金公司股份可以为自己带来至少10亿美元资金。

Morgan Stanley, which hoped to get at least $1bn for its CICC stake, has been told by the government that it cannot simultaneously⁹ be in two separate investment banking¹⁰ ventures in China.

摩根士丹利在中金公司的主要合作伙伴中国建设银行(CCB)已经将所持股份转让给中投公司(CIC)。

China Construction Bank, Morgan Stanley’s principal partner in CICC, has transferred its stake to China Investment Corp.

去年12月，中投公司斥资50亿美元收购了摩根士丹利少数股权。这笔交易更多地被描述为对摩根士丹利的战略投资，而不是救援融资。

CIC bought a $5bn minority stake in Morgan Stanley in December in a deal that was described more as a strategic investment for Morgan Stanley than as rescue finance.

当摩根士丹利最初于1995年夏达成入股中金公司的交易时，中国市场还很沉静，大部分利润来自中国政府债券的利息。 When the CICC deal was first sealed in the summer of 1995, Chinese markets were dormant¹¹ and most of profits came from the interest earned on Chinese government bonds.

但是现在，中国企业正在全球四处并购，更多公司准备上市融资，国内股市投资者人数与日俱增，全球其它国家和地区争相寻找中国投资资金，价位合适的中国券商因此拥有极大的吸引力。

But now, Chinese firms are scouring¹² the world for mergers¹³ and acquisitions, more companies are going public, the number of investors¹⁴ in the domestic stock market is growing by the day and the rest of the world is lining¹⁵ up in search of Chinese investment capital, making Chinese brokerages hugely attractive at the right price.

中金公司高管的薪酬，远远高于中信证券(Citic Securities)等其它大陆券商。

CICC executives are paid far more than their counterparts at other mainland brokerage firms such as Citic Securities.

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收听单词发音

1 equity
n.公正，公平，（无固定利息的）股票
参考例句：
They shared the work of the house with equity.他们公平地分担家务。 To capture his equity,Murphy must either sell or refinance.要获得资产净值，墨菲必须出售或者重新融资。

2 bidders
n.出价者，投标人( bidder的名词复数 )
参考例句：
Bidders should proceed only if they intend on using a PayPal account to complete payment. Bidders的唯一形式，应继续只当他们在使用贝宝帐户，以完成付款打算。来自互联网 The other bidders for the contract complained that it had not been a fair contest. 其他竞标人抱怨说该合同的竞标不公平。来自《简明英汉词典》

3 jittery
adj. 神经过敏的, 战战兢兢的
参考例句：
However, nothing happened though he continued to feel jittery. 可是，自从拉上这辆车，并没有出什么错儿，虽然他心中嘀嘀咕咕的不安。来自汉英文学 - 骆驼祥子 The thirty-six Enterprise divebombers were being squandered in a jittery shot from the hip. 这三十六架“企业号”上的俯冲轰炸机正被孤注一掷。

4 toll
n.过路(桥)费；损失，伤亡人数；v.敲(钟)
参考例句：
The hailstone took a heavy toll of the crops in our village last night.昨晚那场冰雹损坏了我们村的庄稼。 The war took a heavy toll of human life.这次战争夺去了许多人的生命。

5 curtailed
v.截断，缩短( curtail的过去式和过去分词 )
参考例句：
Spending on books has been severely curtailed. 购书开支已被大大削减。 Their public health programme had to be severely curtailed. 他们的公共卫生计划不得不大大收缩。来自《简明英汉词典》

6 auction
n.拍卖；拍卖会；vt.拍卖
参考例句：
They've put the contents of their house up for auction.他们把房子里的东西全都拿去拍卖了。 They bought a new minibus with the proceeds from the auction.他们用拍卖得来的钱买了一辆新面包车。

7 complicate
vt.使复杂化，使混乱，使难懂
参考例句：
There is no need to complicate matters.没有必要使问题复杂化。 These events will greatly complicate the situation.这些事件将使局势变得极其复杂。

8 partnership
n.合作关系，伙伴关系
参考例句：
The company has gone into partnership with Swiss Bank Corporation.这家公司已经和瑞士银行公司建立合作关系。 Martin has taken him into general partnership in his company.马丁已让他成为公司的普通合伙人。

9 simultaneously
adv.同时发生地，同时进行地
参考例句：
The radar beam can track a number of targets almost simultaneously.雷达波几乎可以同时追着多个目标。 The Windows allow a computer user to execute multiple programs simultaneously.Windows允许计算机用户同时运行多个程序。

10 banking
n.银行业，银行学，金融业
参考例句：
John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。 He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

11 dormant
adj.暂停活动的；休眠的；潜伏的
参考例句：
Many animals are in a dormant state during winter.在冬天许多动物都处于睡眠状态。 This dormant volcano suddenly fired up.这座休眠火山突然爆发了。

12 scouring
擦[洗]净，冲刷，洗涤
参考例句：
The police are scouring the countryside for the escaped prisoners. 警察正在搜索整个乡村以捉拿逃犯。 This is called the scouring train in wool processing. 这被称为羊毛加工中的洗涤系列。

13 mergers
n.（两个公司的）合并( merger的名词复数 )
参考例句：
Mergers fall into three categories: horizontal, vertical, and conglomerate. 合并分为以下三种：横向合并，纵向合并和混合合并。来自辞典例句 Many recent mergers are concentrated within specific industries, particularly in retailing, airlines and communications. 现代许多合并企业集中进行某些特定业务，在零售业、民航和通讯业中更是如此。来自英汉非文学 - 政府文件

14 investors
n.投资者，出资者( investor的名词复数 )
参考例句：
a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子 a cash bonanza for investors 投资者的赚钱机会

15 lining
n.衬里，衬料
参考例句：
The lining of my coat is torn.我的外套衬里破了。 Moss makes an attractive lining to wire baskets.用苔藓垫在铁丝篮里很漂亮。

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