NPC International, Inc. Enters into Stock Purchase Agreement.PITTSBURG, Kan. -- NPC 1. (complexity) NPC - NP-complete. 2. (architecture) NPC - Next Program Counter. International, Inc. ("NPC") today announced that NPC and O. Gene Bicknell, Founder and Chairman of the Board of NPC, have entered into a stock purchase agreement to sell 100% of the equity ownership in NPC to Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. Global Private Equity, the private equity arm of Merrill Lynch. The transaction, which has received approval in principle from Pizza Hut, Inc. and is expected to close this spring, is contingent upon Adj. 1. contingent upon - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent on, dependant on, dependant upon, dependent on, dependent upon, depending on, contingent financing and the receipt of usual and customary provisions and approvals. The Company will continue to operate its Restaurant Services Center in Pittsburg, Kansas Pittsburg is a city in Crawford County, in Southeast Kansas, United States. It lies 90 miles west of Springfield, Missouri, and 137 miles northeast of Tulsa, Oklahoma. It is the most populous city in Crawford County and in Southeastern Kansas. , and its Executive Office in Lenexa, Kansas Lenexa is a city in the central part of Johnson County, located in Northeast Kansas, in the Central United States. The population was estimated to be 43,434 in the year 2005.[] It is the fourth most populous city in the county. . Senior management of NPC other than Mr. Bicknell will continue in their present positions upon completion of the transaction with Jim Schwartz as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the company going forward. Mr. Bicknell, Chairman and founder, said, "This transaction will provide the Company the resources and support necessary to continue its heritage of providing unrivaled service and product to our loyal customers in the many markets in which we operate. In addition, I am especially pleased that the Company will continue to leverage the outstanding services of our dedicated team in Pittsburg and Lenexa, Kansas as the company has done for over 40 years retaining all of our restaurant support personnel in their present positions." NPC is the world's largest Pizza Hut franchisee and currently operates 790 Pizza Hut restaurants and delivery kitchens in 26 states. |
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