Blackwater: Looking for A Few Good Hundred MillionEarlier this week, ABC reported that the investment firm Cerberus Capital was in talks to buy Blackwater for around $200 million, but Cerberus, which had apparently been exploring the deal since the beginning of this year, got cold feet as soon as the news went public.
It turns out that it’s part of a concerted push, The Times reports, to expand Blackwater’s business because “whatever the outcome of the US presidential election Blackwater, run by Erik Prince, the Republican former Navy Seal, may find itself without friends in Washington.” So there’s an effort to prepare for the future, when all those federal investigations and scandals might actually affect the bottom line:
Blackwater has advertised in security industry journals repositioning itself as a peacekeeping force. The adverts show mothers feeding babies and Blackwater guards smiling as children play in a street. It has also set up a division called Greystone, which is seeking to win protection work from the UN, aid organisations and foreign companies.A defence industry source said: “Theirs is nearly all US government work and if that goes they are in trouble.”
(Here’s more on Greystone from Mother Jones.)