CNC DEVELOPMENT LTD (GREY:CDLVF)

On September 9, 2009 IAQG, a special purpose acquisition company, consummated a deal to acquire Sing Kung.

Subsequent to the transaction, IAG expects to change its name to CNC Development Ltd

CNC Development provides strategic and urban planning, development and redevelopment of urban infrastructure projects to municipal governments in China.  The Company delivers turnkey solutions to municipalities seeking to implement new development zones, expand existing developments or redevelop underutilized urban resources. 

 The range of services provided is tailored for the specific needs of its clients: newly-formed municipalities, small and mid-sized cities with limited resources or established larger urban areas that must react quickly but strategically to keep up with urbanization pressures. In addition to supporting its clients with municipal development strategy, detailed planning and project implementation, CNC also offers municipal government leaders support in obtaining project financing and later phase commercialization and project marketing.

InterAmerican Acquisition Group Inc. has recently entered into an agreement to Acquire Sing Kung, Ltd., an Emerging Leader in China City Planning & Infrastructure Development.

Source: Business Wire (May 21, 2008)

The deal is expected to close in the fourth quarter of 2008.