Visiteur non identifié - Connexion - Inscrivez-vous
Discussions surrounding the merger acquisition agreement for LIAT
(1974) Ltd. to purchase Caribbean Star Airlines Ltd. remain on track.
Meeting Monday, March 19, 2007 in Antigua were the sole shareholder of
Caribbean Star Airlines Sir R. Allen Stanford, LIAT Chairman Dr. Jean
Holder, LIAT CEO Mark Darby, Caribbean Star President & CEO Skip
Barnette, LIAT CFO (ag) Alan Bryon, and Caribbean Star CFO (ag)
Michael Henne to discuss the details of the transaction. Meanwhile,
the governments of Antigua & Barbuda, Barbados and St. Vincent & the
Grenadines, primary shareholders of LIAT, currently are reviewing the
purchase agreement. All parties are working towards the signing of the
purchase agreement by the end of March 2007. The completion of the
merger acquisition agreement is expected by the end of April 2007, as
the loan from Stanford Financial Group to the three governments
requires approval from their individual island Parliaments.
The loan is a separate transaction from the purchase agreement in
which the Stanford Financial Group will loan US$55 million to the
governments of Antigua & Barbuda, Barbados and St. Vincent & the
Grenadines. The loan is for the purpose of the governments to provide
funds to liquidate LIAT's financial liabilities, as well as to provide
working capital. The loan is on commercial terms and has been
guaranteed by the three governments and is expected to be repaid to
the Stanford Financial Group from the proceeds of an Initial Public
Offering (IPO) of LIAT stock. Already advanced as part of the total
US$55 million loan amount was US$11 million.
For more information on Caribbean Star Airlines Ltd., please visit
www.flycaribbeanstar.com.
For more information on LIAT (1974) Ltd., please visit
www.liatairline.com.
Sélectionnez votre lecteur de news préféré ci-dessous :
Ou bien intégrez le flux XML dans votre agrégateur RSS par défaut : 
