China Carbon Graphite Group, Inc. acquired Golden Ivy Limited for $0.6 million.
December 24, 2013 at 09:30 am IST
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China Carbon Graphite Group, Inc. (OTCPK:CHGI) entered into an agreement to acquire Golden Ivy Limited for $0.6 million on December 23, 2013. China Carbon Graphite will issue 5 million shares and acquire 500 shares of Golden Ivy. As per the terms of the agreement, Golden Ivy Limited will operate as a subsidiary of China Carbon after the acquisition. The transaction is subject to approval by Board of Directors of China Carbon and is expected to be completed by December 31, 2013.
China Carbon Graphite Group, Inc. (OTCPK:CHGI) completed the acquisition of Golden Ivy Limited on December 23, 2013. The consideration shares were issued on January 16, 2014.
China Carbon Graphite Group, Inc., formerly Achievers Magazine Inc., is engaged in the manufacturing of graphene, graphene oxide and graphite bipolar plates products. The Company also operates a business-to-business and business-to-consumers Internet portal, www.roycarbon.com, for graphite related products. Vendors can sell raw materials, industrial commodities and consumer (household) commodities to both business and consumers through the Website by paying a fee for each transaction conducted through the Website. Its business scope includes manufacturing and selling primarily the graphite products. The Company's customers primarily include international customers, which generally purchase products pursuant to purchase orders. The Company does not enter into long-term contracts with its customers. Its subsidiaries include Talent International Investment Limited, XingheYongle Carbon Co., Ltd., Golden Ivy Limited and Royal Elite International Limited.
CHINA CARBON GRAPHITE GROUP, INC. 
