Search This Blog

Thursday, June 21, 2007

LIAT not required to pay cash for Caribbean Star assets|radiojamaica.com

: "Cash-strapped regional carrier LIAT, will not have to pay over cash to acquire the assets of its former rival, Caribbean Star.
LIAT's Chief Executive Officer, Mark Darby, says the Stanford Financial Group of Texan billionaire Sir Allen Stanford, which owns Caribbean Star, would be given 35 per cent of the stake in the new airline in exchange for the assets. "