China Growth Equity Investment Ltd. has merged with two companies to form Pingtan Marine Enterprise Ltd. in a deal valued at $770 million.

The merger is with China Dredging Group, an independent provider of dredging services, and Fujian Provincial Pingtan County Ocean Fishing Group Co. Ltd., a fishing company. China Growth is a special purpose acquisition vehicle (SPAC) formed by Morgan Joseph TriArtisan's clients.

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