Ultrapetrol Announces Increase in Investment by Southern Cross
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Southern Cross Takes Larger Stake in Ultrapetrol (ULTR)
September 3, 2014 4:14 PM EDTUltrapetrol (NASDAQ: ULTR) announced the completion of a share purchase transaction with respect to the sale of shares of Ultrapetrol between the major shareholders of the Company under terms previously announced on July 13, 2014. In the transaction, Sparrow Capital Investments Ltd. ("Sparrow"), a subsidiary of Southern Cross Latin America Private Equity Funds III and IV ("Southern Cross"), purchased all of the outstanding Ultrapetrol equity interests held by Hazels (Bahamas) Investments Inc. ("Hazels"), Inversiones Los Avellanos S.A. ("Los Avellanos") and certain entities affiliated with them ("SIPSA"), increasing Southern Cross' interest in the Company from 67%... More
