Cadiz Land evaluates possible acquisition of Sun World.RANCHO CUCAMONGA Rancho Cucamonga (răn`chō k  'kəmäng`gə), city (1990 pop. 101,409), San Bernardino co., S Calif. , Calif.--(BUSINESS WIRE)--Dec. 4, 1995--Cadiz Land Company, Inc., Nasdaq symbol CLCI CLCI Dichlorodimethyl Ether ("CLCI"), announced today that it is formally evaluating a possible acquisition of Sun World International, Inc. ("Sun World"), which as one of California's largest permanent crop companies has assets complimentary to CLCI in agriculture, produce marketing and water rights. Sun World entered Chapter 11 reorganization proceedings in October of 1994 after debt restructuring Debt Restructuring A method used by companies with outstanding debt obligations to alter the terms of the debt agreements in order to achieve some advantage. Notes: negotiations with its existing lenders failed. Based in Bakersfield, California, Sun World owns more than 20,000 acres of developed land in the Central Valley. CLCI has retained Smith Barney, Inc., to advise it on a possible transaction. CLCI intends to continue substantive discussions with the interested parties, proceed with detailed 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. and will report on material developments as they occur. CONTACT: Cadiz Land Company, Inc. Keith Brackpool, 909/980-2738 |
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