Citizens reports acquisition of Insurance Investors & Holding.AUSTIN Austin. 1 City (1990 pop. 21,907), seat of Mower co., SE Minn., on the Cedar River, near the Iowa line; inc. 1868. The commercial and industrial center of a rich farm region, it is noted as home to the Hormel meatpacking company, whose Spam Town museum , Texas--(BUSINESS WIRE)-- March 14, 1996--Citizens Inc. (AMEX-CIA), an Austin based life insurance holding company, announced that it had consummated con·sum·mate tr.v. con·sum·mat·ed, con·sum·mat·ing, con·sum·mates 1. a. To bring to completion or fruition; conclude: consummate a business transaction. b. the acquisition of Insurance Investors & Holding Company, parent of Central Investors Life Insurance Company of Illinois Illinois, river, United States Illinois, river, 273 mi (439 km) long, formed by the confluence of the Des Plaines and Kankakee rivers, NE Ill., and flowing SW to the Mississippi at Grafton, Ill. It is an important commercial and recreational waterway. . The transaction had been pending since December 1994. Citizens expects to issue approximately 171,000 Class A shares with a market value of approximately $1.5 million to shareholders of Investors and Central. The acquisition boosts Citizens' assets to approximately $210 million, annual revenues to approximately $65 million and stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. to more than $65 million. CONTACT: Citizens Inc. Mark A. Oliver, 512/837-7100 |
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