PRIMARK COMPLETES SALE OF WESTMARK MORTGAGE CORP.
MCLEAN, Va., Aug. 30 /PRNewswire/ --- Primark Corporation (NYSE/PSE: PMK) announced that it completed the sale of all of the stock of its wholly-owned subsidiary, Westmark Mortgage Corporation, for a total purchase price of $6.0 million in cash and secured notes. The purchase price consisted of $3.5 million in cash tendered at closing with the balance of $2.5 million to be paid over three years. The sale of Westmark fits Primark's strategic objective of focusing its efforts in the information services marketplace. Additionally, we are pleased that we have found a good home for Westmark and its employees, said Joseph E. Kasputys, Primark's chairman and chief executive officer. Primark Corporation, headquartered in McLean, is an international company principally engaged in information service businesses. -0- 8/30/93 /CONTACT: Steven L. Schneider of Primark Corporation, 703-790-7630/ (PMK)
CO: Primark Corporation; Westmark Mortgage Corporation ST: Virginia IN: CPR SU: TNM
IH-KD -- DC010 -- 6996 08/30/93 10:03 EDT
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|Date:||Aug 30, 1993|
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