DLD Group Closes Reverse Acquisition with DLD BVI.
31 November 2014 - US-based holding company DLD Group has entered a share exchange agreement to acquire DLD BVI, the firm said on Wednesday.
The agreement was by and among DLD Group, DLD BVI, and the former shareholders of DLD BVI. Under the deal, former shareholders of DLD BVI transferred to us all of their shares of DLD BVI in exchange for the issuance of 2m shares of DLD Group common stock, which represented approximately 95.23% of the firm's total shares outstanding immediately following the closing of the transaction.
As a result of the deal, DLD BVI became a wholly-owned subsidiary of DLD Group.
With the deal, DLD Group becomes a holding company, which through certain contractual arrangements with operating companies in the PRC, engages in online, offline and mobile commerce in the PRC.
DLD had established DLD BVI and DLD HK in British Virgin Islands and Hong Kong in 2012 and 2013 respectively. They are offshore holding companies in order to facilitate international financing.
Sector: IT/Online Services
Target: DLD BVI
Buyer: DLD Group
Deal size in USD:
Type: Corporate acquisition
Buyer advisor: , ,