China Water Group (fka CHWG)

[Blackjay]

I couldn´t find a website about the last acqusition which was announced in August. But "Fortune Luck Global International Limited" has a focus on water companies. I.e. they have helped Glacier Water Services, GWSV. And this company runs very well. I found addional information on chinese websites. But Babel Fish couldn´t realy translate this.

GUANGZHOU, China, Aug. 8 /Xinhua-PRNewswire/ -- China Water Group, Inc. (Pink Sheet: CHWG), a water industry company in the People's Republic of China, announced on August 2nd the signing of a contract of share ownership assignment with Fortune Luck Global International Limited. Pursuant to the contract, China Water Group, Inc. will own 90% of the shares of Guangzhou Xinchen Water Company (held by Fortune Luck Global International Limited) as well as shareholder's rights in Aba Xinchen Dagu Glacier Spring Co., Ltd. The total price for the assignment of the share ownership is 13.45 million dollars, of which 7.5 million dollars will be paid in cash, and the remaining 5.95 million dollars will be in shares. Huatian Public Accountants appraised the enterprise value of Aba Xinchendagu Dagu Glacier Spring Co., Ltd. at RMB 75,499,830,000 Yuan as of February 28, 2007.