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Article: LIAT, Caribbean Star Close Merger Deal.(LIAT Airlines, Caribbean Star Airlines Ltd.)(Brief article)
- Article from:
- Regional Aviation News
- Article date:
- March 12, 2007
CopyrightCOPYRIGHT 2007 Access Intelligence, LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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After five months of negotiations, shareholders and key executives representing LIAT and Caribbean Star completed the merger agreement between the former competitors. The announcement was made following a meeting held yesterday in Antigua between the Prime Ministers of Antigua & Barbuda, Barbados and St. Vincent & the Grenadines, primary shareholders of LIAT, and Sir Allen Stanford, sole shareholder of Caribbean Star Airlines. Related Story
Under terms of the merger agreement, the Stanford Financial Group will lend the LIAT shareholder governments a total of US$55 million for the purpose of liquidating LIAT's financial liabilities, as well as to provide ...