Alico Announces Lee County Property Disposition.Business Editors LA BELLE La Belle may be a place in the US:
Ben Hill Griffin III, Chief Executive Officer and Chairman of the Board of Alico, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ALCO), announced today that the Board of Directors approved the transfer of approximately 5,500 acres, the remaining of Alico, Inc.'s Lee County property, to its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Agri-Insurance Company, Ltd. There are currently sales contracts for approximately 2,700 of the acres totaling $81 million. The contracts, while still subject to the buyers' due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. efforts, have also been assigned to the subsidiary. In connection with the transaction, Mr. Griffin stated, "We expect this transfer to facilitate reaching the capital levels necessary to insure our risk of catastrophic crop and other losses. Through Agri-Insurance Company, Ltd., we are able to underwrite previously uninsurable uninsurable Health insurance A high-risk person without health care coverage through private insurance who falls outside the parameters of risks of standard health underwriting practices. See Underwriting. risk and access re-insurance markets otherwise inaccessible. Agri-Insurance Company will begin writing coverages before the end of December 2000. In subsequent years, we expect to gradually expand the use of Agri-insurance into other aspects of our insurance programs." |
|
|||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion