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Article: Caribbean Star / LIAT Set Date for Airlines to Merge.
- Article from:
- Business Wire
- Article date:
- May 18, 2007
CopyrightCOPYRIGHT 2007 Business Wire. 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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LIAT Shareholders Acquire New Financing; Stanford Financial Group Will Provide Bridge Loan
BRIDGETOWN, Barbados -- The shareholders of LIAT (1974) Ltd. and Caribbean Star Airlines Ltd. announced today that they have set June 15, 2007 for the merger to be finalized and the airlines to be integrated. The announcement was made following a meeting held today in Barbados between the Prime Ministers of Antigua & Barbuda and Barbados, shareholders of LIAT, and Sir R. Allen Stanford, sole shareholder of Caribbean Star Airlines. Merger negotiations had been ongoing since October 2006.
Under terms of a revised agreement, the Stanford Financial Group will lend the ...