Finance Institutional Investment
InterAmerican Acquisition Group to Acquire China City Planning & Infrastructure Development Firm
May 21, 2008

InterAmerican Acquisition Group Inc. has announced today that it has entered into a definitive agreement to acquire up to 89.6 percent of the capital stock of Sing Kung Ltd., a British Virgin Islands holding company and will also complete an exchange offer to acquire the balance at the closing of the acquisition. Sing Kung, through its wholly-owned China-based subsidiary, Century City Infrastructure Co. Ltd. plans and implements turnkey urban infrastructure and development projects throughout the People’s Republic of China for municipal and provincial governments.

 
Recent Institutional Investment Headlines
Korean Bank Confirms Interest in Buying Lehman Stake
Buzz about a possible sale of Lehman Brothers escalated today after a top official at state-owned Korea Development Bank confirmed that the bank was trying to form a consortium with private banks to buy a stake in the troubled investment banking firm.
Frank Campbell Equity Office Repositions, Refurbishes SoCal Portfolio
About 18 months after Equity Office Properties Inc. was acquired by The Blackstone Group, the company is still in existence with more than 300 properties totaling more than 50 million square feet.
Lehman May Accelerate Mortgage Asset Sales
Lehman Brothers Holdings Inc., in an effort to both staunch its massive losses and tap into a burgeoning market for commercial real estate debt, is reportedly exploring a strategy that would have it set up a company to acquire some of its mortgage assets.
Mid-America Apartment Communities, Fannie Fund to Halt Acquisitions
Mid-America Apartment Communities Inc. has reported that Mid-America Multifamily Fund I L.L.C., its joint venture in which it has a 1/3 interest, will not make additional acquisitions.
Equity One, DRA Advisors Take Florida Properties for $53M
A joint venture between Equity One Inc. and DRA Advisors has taken three new properties in Florida for $53 million. The properties will be 80 percent owned by Equity One and 20 percent owned by DRA Advisors. The three properties, all retail centers, are Plantation Marketplace in Plantation, Penn Dutch Plaza in Margate and 1900/2000 Offices in Boca Raton.