$92 Million SPAC Trans-India Acquisition Corporation Signs Letter of Intent with Unnamed Target

Trans-India Acquisition Corporation (AMEX: TIL) announced that it has entered into an exclusive non-binding letter of intent relating to a business combination. The target is a company with business operations primarily in India. The Company will make an additional announcement once it has entered into a definitive agreement to complete a business combination.

Pursuant to the Company’s Amended and Restated Certificate of Incorporation, the execution of the letter of intent affords the Company a six-month extension for completion of a business combination, until February 14, 2009.

Read the press release here