NWA Deal Completed: An investment group led...
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NWA Deal Completed: An investment group led by Los Angeles financier Alfred A. Checchi completed the purchase of NWA Inc., the parent of Northwest Airlines. Checchi’s group, which includes KLM Royal Dutch Airlines and a unit of the Australian conglomerate, Elders IXL, won a three-month bidding war for the company with a $121-a-share offer in June. On Friday, Moody’s Investors Service lowered its ratings on $400 million of NWA debt because the company is taking on $3.1 billion in new debt as a result of the buyout.
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