Litters and the Wachovia merger was announced: the name "American West"-West, US-West-IT information

On June 6, West limited announced today and the American League (Hong Kong) investments limited entered into a merger agreement, there will be food Hotels Internet Group, the company will be known as "the American West", with its headquarters in Hong Kong.

Under the agreement, West to the Wachovia shareholders 741,422,780 common shares and $ 30 million in cash, with this as a consideration to the shareholders of Wachovia Wachovia all outstanding shares.

Meanwhile, Xu Maodong, Chairman of litters to each United States depository receipt prices private placement of us $ 10 for 40 million dollars worth of common stock . Mergers and acquisitions and directed after the transaction is completed, all the American League will become a subsidiary of us West, Wachovia shareholders before the transaction will have beautiful litters of 50% shares outstanding.

After the transaction is completed, Xu Maodong will hold America West 25.26% issued shares for all US West's largest shareholder. American League founding shareholder and Chairman Zhu Xiaoxia held beautiful litters of 14.68% issued shares. Wachovia Wang Huimin founding shareholders will hold America West 10.06% of shares issued. The merger is expected to be completed next week.

Management, co-Chairman and CEO of America West will implement mechanisms . WoWo Chairman Xu Maodong beautiful litters of co-Chairman, current Wu Jianguang, Executive Director of the West will serve as co-CEO of the American West. Wachovia Chairman and CEO Zhu Xiaoxia will serve as co-Chairman and CEO of the American West.

WoWo says, after the merger of the two companies complement each other in the existing business and synergies, and will make use of their respective strengths and resources and to develop new business.