El Maniel International, Inc. (OTCPK: EMLL) signed a definitive agreement to acquire 20% stake in Agona Rural Bank on February 16, 2011. The transaction was approved by the Board of Directors of Agona Rural Bank. El Maniel International Inc. will also appoint 2 representatives to the Board of Agona Rural Bank. The acquisition is expected to close by third quarter of 2011. El Maniel International, Inc. (OTCPK: EMLL) cancelled the acquisition of 20% stake in Agona Rural Bank on February 16, 2012.