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Article: Burkle Bets On Iceland.(News)
- Article from:
- Mergers & Acquisitions Report
- Article date:
- July 6, 2009
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Byline: Avram Davis
Ron Burkle is betting that the worst of Iceland's economic troubles are behind the embattled Nordic island.
Following the collapse of the country's three largest banks last October and the resignation of Prime Minister Geir Haarde in January, Burkle's private equity firm has invested heavily in the ailing republic. The Los Angeles, California-based firm, The Yucaipa Companies, LLC will lead the $2.0 billion restructuring of Iceland-based company Hf. Eimskipafelag Islands. The shipping and logistics company was founded in 1914.
Separately, Yucaipa purchased a 49% stake in Versacold International Corporation, and also bought ...