A special purpose acquisition company Jaguar Acquisition Corporation has published a Letter of Intent to acquire all of the issued and outstanding shares of China Cablecom Ltd., a company registered in the British Virgin Islands, an emerging consolidated cable network operator in the Shandong Province in the Republic of China. To secure this transaction, China Cablecom has raised $20 million of debt and equity bridge financing.
Jaguar Acquisition will provide further details on this transaction in the next two to three weeks. Pursuant to the provisions of its certificate of incorporation, the company now has until April 13, 2008 to complete its business combination and to satisfy the criteria for extension. The company anticipates signing a definitive agreement relating to its business combination within the next 30 days.
China Cablecom Ltd. is an emerging consolidated cable TV network operator. This BVI-incorporated company enables municipal cable TV network operators to be restructured into new companies in which local management incentives.
Jaguar Acquisition Corporation is a special purpose acquisition company formed in June 2005 for the purpose of acquiring, through a merger, asset acquisition or other similar business combination, or controlling an operating business in the financial services, payment or other industry. In April 2006, Jaguar Acquisition Corporation raised $289.3 million as its units began trading.
