Qinghai ZhengDa Signed Merger Agreement with China Yibai
12 August 2009 - 10:00PM
PR Newswire (US)
DALIAN, China, Aug 12 /PRNewswire-Asia-FirstCall/ -- The subsidiary
of China Mining Guarantee Fund, Qinghai ZhengDa Credit Guarantee
Co., Ltd. (hereafter referred to as "Qinghai ZhengDa ") announced
the signing of a Merger Agreement with the subsidiary of China
Yibai United Guarantee International Holding Inc. (Pink Sheets:
CBGH), Dalian Yibai SMEs Guarantee Ltd. (hereafter referred to as
"Dalian Yibai"). According to the agreement, Dalian Yibai will hold
20 percent of authorized stock and is authorized to operate the
whole actions of Qinghai ZhengDa. In terms of this cooperation,
"The agreement about merger is a case of consolidation merger in
the capital market. Dalian YiBai reaches an alliance with Qinghai
ZhengDa to commence equity mortgage guarantee and loan businesses
about enterprises in West regions in China," said Mr. Li Li, CEO of
China YiBai. "Additionally, this merger will lay the foundation for
finance collectivization of China YiBai at the end of 2010." About
China YiBai United Guarantee International Holding Inc. China YiBai
United Guarantee International Holding Inc. (hereafter referred to
as "China YiBai "), is a financial company specializing in
providing financial services for domestic SMEs. IG Finance Inc.,
together with China Dragon International Investment (HK) Co., Ltd.
are overseas subsidiary of China YiBai. Dalian YiBai Small &
Medium Enterprises Guarantee Co., Ltd. (hereafter referred to as
"Dalian YiBai "), is the Chinese subsidiary and main body of
operation. Dalian Yibai is engaged in providing value added
services for Chinese SMEs including equity mortgage guarantee and
loan services, Finance Consultant, design of listing and merger
plans as well as core competitiveness. Combing professional
services of that of consultancy firms, accounting firms, law firms
and securities traders, Dalian YiBai works with investment
institutions in providing thoughtful and considerate services to
enterprises to fulfil their share capital increasing and second
financing needs. Recently, Dalian YiBai acquired the qualification
as sponsor and market-maker from Tianjin Equity Exchange and is now
specialized in financial services for non-listing enterprises. For
additional information, please visit http://www.yibaichina.com/ .
About Qinghai ZhengDa Credit Guarantee Co., Ltd. Qinghai ZhengDa
Credit Guarantee Co., Ltd. (hereafter referred to as "Qinghai
ZhengDa") was established in 2008 with registered capital of RMB
166 million. Qinghai ZhengDa specializes in loan and credit
guarantee, capital management, entrust loan of small amount and
national banks' entrust and investment. Additionally, Qinghai
ZhengDa is engaged in project implementation guarantee and property
preservation guarantee. Moreover, Qinghai ZhengDa also functions as
a financial consultant. China Mining United Fund, established by
China Mining United Investment Group, the parent company of Qinghai
ZhengDa, is among the first batch of mining investment funds
approved by the Development and Reform Commission. China Mining
United Fund runs and operates with domestic and foreign excellent
mineral companies and financial capitals. For additional
information, please visit http://www.cmufund.com/ . DATASOURCE:
China YiBai United Guarantee International Holding Inc. CONTACT:
China YiBai United Guarantee International Holding Inc.,
+86-411-8253-7032, fax +86-411-8263-1182, Web site:
http://www.yibaichina.com/ http://www.cmufund.com/
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