Malibu Partners buys more than 1.27 million shares of Inter-Atlantic Financial

By Lisa Kerner

Charlotte, N.C., Sept. 18 - Kenneth J. Abdalla and Malibu Partners LLC bought 1,274,780 shares of Inter-Atlantic Financial, Inc. between July 15 and Sept. 15, it was reported in a schedule 13D filed with the Securities and Exchange Commission.

The shares were priced from $7.55 to $7.61 each.

Abdalla and Malibu Partners are the beneficial owners of 1,768,580 shares, or 16.3%, of the company's common stock, the filing said.

Inter-Atlantic Financial does not have significant operations. The New York-based company intends to acquire an operating business through a merger, capital stock exchange, asset acquisition, stock purchase or other similar business combination.

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