Spring Creek Acquisition Corp. Announces Shareholder Approval of Acquisition of AutoChina Group Inc.

Spring Creek Acquisition Corp. (OTCBB: SCRQF, SCRWF, SCRUF) that announced its shareholders have approved the definitive share exchange agreement among Spring Creek and AutoChina Group Inc. The vote to approve the $69 million transaction took place on April 8, 2009 at Spring Creek’s extraordinary general meeting of shareholders. The SPAC will issue a press release when the transaction closes, which the parties expect to occur shortly.

Subsequent to the transaction, Spring Creek will change its name to AutoChina International Ltd. and continue to trade on the OTCBB under the symbols SCRQF, SCRWF, SCRUF until a new symbol is issued. In addition to approving the merger, the Spring Creek shareholders also approved certain amendments to Spring Creek’s certificate of incorporation and the election of three members to the Company’s Board of Directors.

Read the release here