COASTAL SECURITIES COMPLETES ACQUISITION OF GSC ASSETS.HOUSTON--(BUSINESS WIRE)--June 10, 1996--Houston-based Coastal Securities has completed the acquisition of selected fixed assets fixed assets npl → activo sg fijo fixed assets npl → immobilisations fpl fixed assets fix npl → of Government Securities Corporation. The two firms had announced in March an agreement in principle to combine operations. Dave Master, chairman and chief executive of Coastal, and Christopher LaPorte, chairman and president of GSC GSC gas-solid chromatography. , said the first step in combining the two firms was the acquisition of selected fixed assets of GSC and the recapitalization Recapitalization Restructuring a company's debt and equity mixture often with the aim of making a company's capital structure more stable. Notes: Companies often want to diversify their debt-to-equity ratio to improve liquidity. of Coastal. "The first phase of our effort to combine the firms has been completed," Master said, "and the second and final phase will be completed in early July." The second phase involves the assimilation Assimilation The absorption of stock by the public from a new issue. Notes: Underwriters hope to sell all of a new issue to the public. See also: Issuer, Underwriting Assimilation of the GSC and Coastal employee groups. No staff reductions are anticipated because the two firms provide very complementary services and financial products. Coastal is a broker-dealer in fixed income securities as well as a market-maker in municipal bonds and NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on equities. GSC is a broker- dealer specializing in the secondary market for government-guaranteed loans and pools. CONTACT: Coastal Securities Dave Master, 713/646-6800 or GSC Christopher LaPorte, 713/558-8855 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion