LJ International completes merger

LJ International Inc. has merged with two companies, - one being Flora Bloom Holdings, which is characterized as an exempted company with limited liability incorporated under the laws of the Cayman Islands. The second is Flora Fragrance Holdings Limited, which carries limited liability and is incorporated under the laws of the British Virgin Islands, reports suggest.

The merger has been approved by shareholders of LJ International, reports add.

With this merger, LJ International has become a private company, and has requested suspension of trading of its ordinary shares on the Nasdaq Global Market.

The merger outlines that each ordinary share of the company issued and outstanding has been canceled in exchange for the right to receive $2 in cash without interest, except for the ordinary shares beneficially owned by some key individuals and firms, all of which ordinary shares have been canceled without the right to receive any consideration, reports suggest.