Not to be dissuaded by the republics losses, Yucaipa will head the restructuring efforts of the shipping and logistics company Hf. Eimskipafelag Islands.
The private equity firm joins a growing number of investors that are now looking to make plays in sectors that have struggled the most as of late.
A Turkish partner will expand manage operations and customer relationships through the greater region.
The firm exits the investment for just $6 million in cash and a $25 million convertible note.
The target, a spin out from specialty chemicals maker Ashland, is the equity firms third maritime buy.
Many workout specialists believe the three companies are long overdue for a thorough overhaul akin to what the US steel industry went through.
Veritas Capital is starting a new fund in order to combat the stateside influence of foreign acquirers like Finnmeccanica, who have as of late used their currency advantage to out-bid M&A competitors.
At the end of July, Barak Obama sent a letter that seems to confirm many dealmakers assumption that a Obama victory would mark the end of a relatively lax antitrust enforcement regime.
Delta Air Lines' quarterly earnings announcement contained a glimmer of hope for the airlines sector.
When Italian aerospace and defense company Finmeccanica launched its $5.2 billion bid to acquire Parsippany, N.J.-based military contractor DRS Technologies at $81 per share in May, the transaction represented more than just another new cross-border acquisition executed by a European acquirer. It heralded the potentially fierce corporate battle for market share taking shape in the US aerospace and defense supply business, where M&A activity is expected to continue heating up, according to industry observers.