Argentina’s Southern Cross Buys Shipper Ultrapetrol, Clarin Says

Dec. 27 (Bloomberg) -- Argentine private equity firm Southern Cross Group acquired a 78 percent stake in shipbuilder and river boat operator Ultrapetrol Ltd, Clarin reported today, without saying how it got the information.

The firm owned by Argentine businessman Norberto Morita paid $220 million for the stake, the Buenos Aires-based newspaper said.

To contact the reporter on this story: Pablo Gonzalez in Buenos Aires at pgonzalez49@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net