WSJ: Bill Clinton Severs Ties with Yucaipa

NEW YORK (Reuters) – Former U.S. President Bill Clinton has severed his connections to Ronald Burkle’s Yucaipa Cos. and will not receive a payment once estimated to be up to $20 million, the Wall Street Journal reported on Sunday, citing a person familiar with the matter.

The Journal said Clinton decided not to claim additional money from Yucaipa earlier this year.

It said people familiar with the matter had thought last year that the payment could have been as much as $20 million. However, the size of the possible payment might have fallen because of the recent economic turmoil.

Clinton started distancing himself from Yucaipa, a private equity firm run by his friend Burkle, in 2007 because Hillary Clinton was planning a run for the Democratic presidential nomination, according to the report.

Hillary Clinton won U.S. Senate approval as secretary of state in January despite renewed Republican concerns about potential conflicts of interest created by her husband’s foreign fund-raising.

Spokesmen for Clinton and Yucaipa could not be immediately reached for comment. (Reporting by Michael Erman; Editing by Kim Coghill)