Southern Cross Group to Acquire SIPSA Interest in Ultrapetrol
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Southern Cross Will Increase Stake in Ultrapetrol (ULTR) to 85%
July 14, 2014 6:18 AM EDTThe major shareholders of Ultrapetrol (Bahamas) Limited (Nasdaq: ULTR), entered into a share purchase agreement with respect to the sale of shares of Ultrapetrol and of certain affiliates of the major shareholders between such shareholders. Under the agreement, Sparrow Capital Investments Ltd. ("Sparrow") a subsidiary of Southern Cross Latin America Private Equity Funds III and IV ("Southern Cross"), reached an agreement with Hazels (Bahamas) Investments Inc. ("Hazels") and Inversiones Los Avellanos S.A. ("Los Avellanos"), each a subsidiary of SIPSA S.A ("SIPSA") to purchase all of Hazels' and Los Avellanos' outstanding equity interests... More
