Replies to post #28330 on Alcar Chemicals Group, Inc. (fka ALCX)

[nlightn]

(EDIT)SouthEast Asia consortium. that was the vehicle that susposedly came in with the contract after USSE talks fell apart.

Alcar Chemicals Signs Acquisition Offer With South East Asian Consortium
Tuesday February 20, 9:30 am ET

MONTREAL--(MARKET WIRE)--Feb 20, 2007 -- Alcar Chemicals Group Inc. (Other OTC:ACMG.PK - News) announces today the signing of a Letter of Intent with the South East Asia consortium outlining the offer for the acquisition of the controlling interest of Alcar Chemicals Group Inc. for the consideration of $2.05 per share.

According to the company, Dr. Cavasin is presently in Thailand, where he has finalized the remaining details and signed the LOI outlining the terms and conditions for the acquisition of the controlling interest of ACMG by the SEA consortium for an overall consideration of $2.05 per share. The consideration of $2.05 per share represents a total investment of $282 million to be made by the South East Asia consortium for (55%) fifty five percent ownership.

The company stated that the letter of intent specifies an immediate cash investment of $7.2M dollars, which will be utilized to complete the Canadian plant and for the scale up engineering.

The company expects a definitive agreement shortly, whereby the initial funds will be placed into escrow and released on closing of said agreement. Upon the signature of a definitive agreement, the name of the South East Asia group will be released as well as Dr. Cavasin's shares will also be placed into escrow and released according to milestones over a four year period. The milestones will include but are not limited to the construction and operation of (4) four full scale plants.

this was the first PR leading shareholders on the wild goose chase

Alcar Chemicals Group Receives Competing Offer
Friday February 2, 8:00 am ET

MONTREAL--(MARKET WIRE)--Feb 2, 2007 -- Alcar Chemicals Group Inc. (Other OTC:ACMG.PK - News) announces today that it has received a competing offer from a consortium located in South East Asia.

According to the company, Alcar Chemicals Group received a competing offer from a consortium of private investors, technology fund and venture capital, further to a recent due diligence process. The group has tabled a combined licensing and financing offer which represents a far better offer for our shareholders with terms and conditions which were presented to USSE and which they declined. The agreements with the Asia fund are being pursued and the next milestone is expected by mid-February.

"The strategic timing of this response shortly after our most recent announcement about our developments with USSE is surprising but also very exciting. It is a bona fide offer representing tremendous shareholder value. Management is now reviewing this premium offer and we will be able to disclose further details in a timely manner," said Dr. Cavasin, CEO of Alcar Chemicals Group. "Evidently we opted to fully concentrate on this offer and, therefore, all further negotiations with USSE have ceased," further added Dr. Cavasin.