NEW YORK--(BUSINESS WIRE)--Oct. 15, 2009-- Morgans Hotel Group Co. (Nasdaq: MHGC) (“MHG”) today announced that an affiliate of The Yucaipa Companies, LLC (“Yucaipa”) has invested $75 million in MHG. The capital infusion will significantly strengthen the company’s balance sheet and provide long-term financing for growth. Combined with the recent amendment to MHG’s credit line, the company has added approximately $200 million of liquidity in the last two months.
The Yucaipa Companies, founded by Ronald Burkle, is a premier investment firm that has an established track record of fostering economic value through the growth and responsible development of companies.
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