US Shipping Deal With Blackstone, Cerberus OK'd

By Christie Smythe (July 17, 2009, 7:10 PM EDT) -- A judge has approved a settlement between bankrupt U.S. Shipping Partners LP and affiliates of the Blackstone Group and Cerberus Partners LP, allowing the private equity firms to take over interests in a joint oil tanker venture in exchange for about $14 million....

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