Yongye International, Inc. (YONG), a provider of crop nutrients, Friday said, on May 16, the special committee of the board of directors was provided a letter issued by Abax Global Capital Limited to Full Alliance International Limited. The Letter, dated as of May 15, is said to inform Full Alliance that Abax remains interested in pursuing the proposed going private transaction described in the proposal letter delivered to the Board of Directors on October 15, 2012, on the terms and conditions as outlined in the amended and restated financing commitment letter issued by Abax to Full Alliance on April 1, and as amended on April 16 which expired on May 15.
According to the Letter, Abax continues to be focused on this transaction and is expected to re-engage in the going private transaction as soon as the trading suspension is lifted.
Yongye further added that no decisions have been made by the Special Committee with respect to the company's response to the proposed going private transaction.
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