Replies to post #228 on Electric Car Company, Inc. (ELCR)

[kingfisher1964]

BRICK long on this,but have you noticed on every PR this stock goes down but i feel the bottom looks to be .03,our day will come when this will make a monster run straight to .25 only then this could catch the attention of other investors till that time TICK TOCK TICK TOCK

[Brick]

From ELCR PR:

The Company fully expects to have the first zero emissions, “PURE ELECTRIC” livery vehicle ready to unveil by first quarter, 2010.

[I Like Bottom Fishing]

ELCR News -- Mahindra & Mahindra to acquire 55.2% equity stake in REVA Electric Car Deal In Brief.

Wednesday, May 26, 2010 2:09 PM

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News for 'ELCR' - (Mahindra & Mahindra to acquire 55.2% equity stake in REVA Electric Car Deal In Brief)


May 26, 2010 (Datamonitor Financial Deals Tracker via COMTEX) -- Mahindra &
Mahindra Limited (M&M), a manufacturer of agricultural tractors and light
commercial vehicles, has signed an agreement to acquire a 55.2% equity stake in
REVA Electric Car, Co., Ltd. (REVA), a manufacturer of electric vehicles, from
its promoters Maini Group and AEV LLC.

Under the terms of the agreement, M&M will acquire a 55.2% equity stake in REVA
from the promoters of REVA and fresh equity investment of over INR450 million
($9.46 million) in REVA. Following the acquisition, REVA will be renamed as
Mahindra REVA Electric Car, Co., Ltd.

REVA was formed in 1994 as a joint venture between India-based Maini Group and
US-based AEV LLC. REVA is backed by venture funds Global Environment Fund (GEF)
and Draper Fisher Jurvetson (DFJ).

Rumour (April 3,2010):

According to The Economic Times, Mahindra & Mahindra is planning to acquire a
majority stake in REVA Electric Car Company. Both the companies are based in
India.

Reportedly, M&M is in talks with REVA's founder, the Maini family, and two
US-based investment firms Global Environment Fund and Draper Fisher Jurvetson,
to acquire the majority stake in REVA.

Deal Type Acquisition

Sub-Category Majority Acquisition

Deal Status Announced: 2010-05-26

Deal Participants

Target (Company) REVA Electric Car Company

Acquirer (Company) Mahindra & Mahindra Limited

Vendor 1 (Company) Maini Group

Vendor 2 (Company) AEV LLC



Deal Rationale

The acquisition will allow Mahindra & Mahindra to enter into the electric car
segment and also benefit from REVA's EV technology for its own products.

% Acquisition 55.2%

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Source: Comtex Wall Street News