As Avianca Weighs Bids, Hedge Fund Plays Unusual Role: Diplomat
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Germán Efromovich, right, the largest investor in Avianca Holdings, watched as the airline’s stock began trading on the New York Stock Exchange in 2013. CreditRichard Drew/Associated Press
Trouble was brewing this summer at Avianca Holdings, Latin America’s second-biggest airline.
Tight on cash, the airline needed to raise money. For many on the board, one option was selling part of the company.
The company’s largest investor — a swashbuckling, Bolivian-born entrepreneur, Germán Efromovich — had other ideas. The airline was the thread holding together the remnants of his once-powerful empire spanning oil and gas businesses, shipyards, hotels and airlines. He was not about to let it go without a fight…
As Avianca Weighs Bids, Hedge Fund Plays Unusual Role: Diplomat
