为什么资产剥离比普通出售更复杂？
中国集团出售非核心业务、子公司、品牌、产线或区域业务时，目标资产往往与母公司共享人员、系统、客户、供应商或品牌。买方需要确认业务能否独立运营。
估值重点
估值应关注独立收入、分拆后成本、正常化EBITDA、客户合同、营运资金、过渡服务和资本开支。
尽职调查重点
尽调应覆盖分拆财务、员工、客户合同、供应商、IT系统、知识产权、税务、资产权属和过渡服务协议。
卖方准备
卖方应准备独立财务、资产清单、员工安排、合同转让计划、过渡服务范围和资料室索引。
Lyndon如何协助
Lyndon可协助集团、买方和顾问准备剥离估值、买方名单、资料室和交易执行。
About the Author
Daniel Bae
Co-founder & CEO, Lyndon Advisory
Daniel is an investment banker with 15+ years of experience in M&A, having advised on deals worth over US$30 billion. His career spans Citi, Moelis, Nomura, and ANZ across London, Hong Kong, and Sydney. He holds a combined Commerce/Law degree from the University of New South Wales. Daniel founded Lyndon Advisory to solve the pain points in M&A, enabling bankers to focus on what matters most — delivering trusted advice to clients.
About Lyndon Advisory
Lyndon Advisory is an M&A advisory firm built for Asia Pacific. We help business owners sell their companies and investors make strategic acquisitions with senior-led execution, disciplined process management, and AI-supported buyer intelligence.
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