Upon completion of the merger and the acquisition, successful entrepreneur Xinrong Zhuo, the founder, Chairman and controlling shareholder of both CDGC and Pingtan Fishing will be the chairman of the combined company.
Pro forma fiscal year 2011 revenues and net income for CGEI, CDGC and Pingtan Fishing were $252.
CGEI's combination with CDGC and Pingtan Fishing is the culmination of our search for a successful company with a proven track record of profitability and attractive growth prospects," said Xuesong Song, China Growth's board chairman.
a wholly owned subsidiary of CGEI ("Merger Sub"), pursuant to which Merger Sub will merge with and into CDGC, resulting in Merger Sub ceasing to exist and CDGC continuing as the surviving company and wholly-owned subsidiary of CGEI.
On October 25, 2012, CGEI and CDGC entered into a definitive merger agreement for CGEI to merge with CDGC and that CGEI and Pingtan Fishing entered into a definitive agreement for CGEI to acquire Pingtan Fishing.
Zhuo is expected to be completed by approximately January 28, 2013 and is in excess of the minimum cash amount necessary to be left in CGEI's trust account in order to close the business combination announced by CGEI, CDGC and Pingtan Fishing on October 25, 2012.
On October 25, 2012 CGEI and CDGC entered into a definitive merger agreement for CGEI to merge with CDGC and that CGEI and Pingtan Fishing entered into a definitive agreement for CGEI to acquire Pingtan Fishing.
further announced that, absent prompt completion of satisfactory documentation with respect to the agreements reached between the parties in January 2000, it intends to pursue all of its rights to the fullest extent permitted by law.