Printer Friendly

PENN CENTRAL FILES REGISTRATION STATEMENT FOR SECONDARY OFFERING BY AMERICAN FINANCIAL

 CINCINNATI, May 26 /PRNewswire/ -- The Penn Central Corporation (NYSE: PC) announced that it has filed a registration statement with the Securities and Exchange Commission for the previously announced proposed secondary public offering by American Financial Enterprises, Inc. (AFEI) of 4 million shares of Penn Central common stock owned by AFEI. AFEI is 83 percent owned by American Financial Corporation (AFC). The offering will be managed by The First Boston Corporation, Donaldson, Lufkin & Jenrette Securities Corporation, Salomon Brothers Inc and S.G. Warburg & Co. Inc.
 AFC owns beneficially approximately 51 percent of the 45.4 million Penn Central common shares currently outstanding, including the shares to be offered by AFEI. As previously announced, AFC and AFEI have advised that they have no plans to sell additional Penn Central shares, other than up to 600,000 shares through an overallotment option expected to be granted to the underwriters by AFEI, and that AFEI plans to use the proceeds of the offering to reduce debt which is scheduled to mature later this year.
 A registration statement relating to these securities has been filed with the Securities and Exchange commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State. A copy of a preliminary prospectus relating to these securities will be obtainable in the near future from the underwriters.
 Penn Central is engaged primarily in specialty property and casualty insurance.
 -0- 5/26/93
 /CONTACT: Philip A. Hagel, vice president - treasurer of The Penn Central Corporation, 513-579-6600/
 (PC)


CO: The Penn Central Corporation; American Financial Enterprises, Inc. ST: Ohio IN: INS SU: OFR

BM -- CL014 -- 2442 05/26/93 12:11 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 26, 1993
Words:339
Previous Article:NEW OPTION FOR TREATING PCP IN AIDS PATIENTS DEMONSTRATES BENEFIT
Next Article:NORTHWESTERN MUTUAL ELECTS TWO NEW TRUSTEES; POLICYOWNERS TOLD COMPANY NOW EIGHTH LARGEST LIFE INSURER
Topics:


Related Articles
AMERICAN FINANCIAL PUBLICLY OFFERS PENN CENTRAL SHARES
AMERICAN FINANCIAL ENTERPRISES, INC. ANNOUNCES THE OFFERING OF 4,400,000 SHARES OF COMMON STOCK OF THE PENN CENTRAL CORPORATION AND REDEMPTION OF ALL...
PENN TREATY AMERICAN CORPORATION ANNOUNCES PUBLIC OFFERING
PENN TREATY AMERICAN CORPORATION ANNOUNCES PUBLIC OFFERING
PTAC Announces $60 Million Convertible Note Issue
Penn Treaty Announces Offering of Convertible Subordinated Notes
American Financial Group Announces Securities Filing
Penn-America Group, Inc. (Nasdaq: PAGI) Announces Offering Of 3.5 Million Shares of Common Stock
Penn-America Group, Inc. (Nasdaq: PAGI) Announces Pricing For Secondary Stock Offering
American Annuity Group Announces Securities Filing

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters