Closing of Option Exercise Relating to Unit of Hudson General Corporation.GREAT NECK, N.Y.--(BUSINESS WIRE)--Nov. 4, 1998--Hudson General Corporation announced today the completion of the transaction in which LAGS (USA) Inc., an indirect wholly-owned subsidiary of Deutsche Lufthansa AG, exercised its option to increase its interest in Hudson General LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control from 26% to 49% (the "Option"). LAGS (USA)'s notice of exercise of the Option was previously announced by Hudson General Corporation. The exercise price of the Option is approximately $29,600,000. LAGS (USA) was granted the Option under the terms of the Unit Purchase and Option Agreement dated February 27, 1996 pursuant to which it acquired its initial 26% interest in Hudson General LLC. LAGS (USA) is not acquiring any securities of Hudson General Corporation. Hudson General Corporation, through Hudson General LLC, in which it now has a 51% interest, provides various services at airports throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada. Hudson General Corporation, which will continue to manage Hudson General LLC's aviation services business, is also a participant in a joint venture to develop 4,000 acres of land in Hawaii. Hudson General Corporation shares are traded on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors HGC See Hercules Graphics. . |
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