Green Automotive Company Corp (OTCPK:GACR) signed an agreement to acquire Liberty Electric Cars Ltd. for $20.8 million in stock on June 27, 2012. Under the terms of the agreement, Green Automotive will issue 39.2 million shares of its common stock as consideration. Liberty Electric recorded total assets of 0.88 million for year ending on December 31, 2011. Post acquisition, the Liberty business in Europe will remain unaffected and the management structure will remain unchanged. Peter Sherman of First Market Services, Inc., acted as investor relation advisor. Green Automotive Company Corp (OTCPK:GACR) completed the acquisition of Liberty Electric Cars Ltd. on July 19, 2012.