What is the definition of enterprise reorganization?

Enterprise reorganization refers to the transaction in which the legal structure or economic structure of an enterprise has undergone major changes outside its daily business activities, including the change of enterprise legal form, debt restructuring, equity acquisition, asset acquisition, merger and division, etc.

legal ground

Article 182 of the Company Law stipulates that the merger or division of a company shall be decided by the shareholders' meeting. Therefore, the merger of companies should take the form of a written contract, and one of the effective conditions of the merger contract is that the shareholders' meeting and the board of directors agree to the merger in the form of a written resolution.

(6) Adverse consequences caused by force majeure.