Celtic Investment, Inc. Signs Definitive Agreement to Sell the Assets and Business of Its Wholly Owned Subsidiary Goodman Factors, Inc.SALT LAKE CITY--(BUSINESS WIRE)--Dec. 16, 1999-- Celtic Investment, Inc. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : CELT Celt (kĕlt, sĕlt) or Kelt (kĕlt). 1 One who speaks a Celtic language or who derives ancestry from an area where a Celtic language was spoken; i.e. ) today announces the signing of a Definitive Asset Purchase Agreement to sell 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. Goodman Factors, Inc. (Goodman) to Bay View Commercial Finance Group (BVCFG), a wholly owned subsidiary of Bay View Bank, which is a wholly owned subsidiary of Bay View Capital Corporation, (Bay View NYSE NYSE See: New York Stock Exchange : BVC). The sale of Goodman to BVCFG provides Celtic the ability to restructure its balance sheet and to expand in other opportunistic financial service areas. The sale of Goodman's assets and operations is subject to a majority of Celtic Shareholders affirmative vote of approval. |
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