Vietnamese construction conglomerate Cavico Corporation inked an asset purchase agreement with the US-based Agent155 Media Group (AGMG), a provider of multimedia content management tools, according to an AGMG press release.
Under the agreement, the Agent155 Media Group would exchange 50,000,000 shares of its stock for Cavico assets.
Agent155 Media Group will complete a name change to become the Cavico Corporation, as well as a symbol and CUSIP change.
The deal was reportedly inked with help from Providential Holdings, Inc., a diversified holding company primarily engaged in mergers and acquisitions and independent oil and gas business. It will retain a minority interest in Cavico Corp. as a result of the advisory and consulting services to Cavico Vietnam JSC.
Currently, Cavico Vietnam yields $25 million per year in revenues and owns $64 million in assets.
Agent155 Media Group CEO, Christopher Martinez said his company was pleased to have entered into an agreement with Cavico.
Cavico, he said, owns a large asset base and has substantial existing revenues in a region with enjoying robust growth. The stock acquisition will offer Cavico access to the US capital markets and boost the funding to maintain and expand their growth, added Martinez.
Source:
Vietnam News Brief Service
English
Toan Viet Limited Co.
CVCP — Cavico Corp.
17011 Beach Blvd.
Suite 1230
Huntington Beach, CA 92647
Website: http://www.cavicovn.com
Phone: 714-843-5456
Fax: 714-843-5451
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