NEW YORK, Nov. 10, 2011 /PRNewswire/ -- New York Global
Group, Inc., a leading Asia
focused private equity and corporate advisory firm congratulates
China Fire & Security Group,
Inc. (NASDAQ: CFSG) on its successful US$265
million merger acquisition at US$9 per share led by Bain Capital, a global
private equity firm.
(Logo:
http://photos.prnewswire.com/prnh/20100915/NY65608LOGO)
China based China Fire &
Security Group, Inc. became a U.S. listed public company via a
reverse merger in 2006 at $3.25 per
share. The $9 acquisition price
represents a 227% gain for China
Fire & Security Group's initial U.S. investors.
Recently another NASDAQ listed China based company, Harbin
Electric, Inc., (NASDAQ: HRBN) was acquired for $24 per share, representing a 1200% gain for
Harbin's initial U.S. investors
since it became a public company through a reverse merger.
James N. Baxter, Esq., Chairman of New York Global Group
commented: "Like our portfolio company Harbin Electric, China
Fire & Security's successful merger acquisition and its
extraordinary investment returns to investors again reinforces New
York Global Group's belief that well managed China based companies
represent a tremendous value proposition for U.S. investors."
Mr. Baxter continued: "As an increasing number of China based
companies voluntarily delist from U.S. stock exchanges for more
friendly listing venues in Asia,
we are concerned that the U.S. capital market is losing
competitiveness in attracting global companies."
New York Global Group wishes China
Fire & Security Group continued success in its potential
re-listing on the Hong Kong or
China stock exchanges at likely higher valuations in future.
About China Fire & Security
Group, Inc.
China Fire & Security Group,
Inc. (NASDAQ: CFSG) is a solution provider of industrial fire
protection systems in China. The
Company owns a comprehensive portfolio of patents and a solid
client base including major companies throughout China.
About New York Global Group:
New York Global Group ("NYGG") is a leading middle market
focused private equity and corporate advisory firm specialized in
Asian related projects. For over a decade, NYGG has executed more
than 200 Asian related transactions in the areas of corporate
finance, direct investments, market entry assistance and due
diligence assignments. With offices in Beijing China and on Wall Street in
New York City, NYGG serves growth
oriented private sector businesses as well as public companies
listed on global stock exchanges. Website: www.nyggroup.com
SOURCE New York Global Group, Inc.