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REYNOLDS ANNOUNCES PLAN FOR PUBLIC OFFERING OF ESKIMO PIE STOCK AND TERMINATES NEGOTIATIONS WITH NESTLE

 REYNOLDS ANNOUNCES PLAN FOR PUBLIC OFFERING OF ESKIMO PIE STOCK
 AND TERMINATES NEGOTIATIONS WITH NESTLE
 RICHMOND, Va., Jan. 17 /PRNewswire/ -- Reynolds Metals Company (NYSE: RLM) and Eskimo Pie Corporation announced today that Eskimo intends to file a registration statement with the Securities and Exchange Commission for the sale of Reynolds 84-percent interest in Eskimo within 45 days.
 The offering of the shares will be made only by a prospectus which meets the requirements of the Securities Act of 1933.
 Prior negotiations to sell Reynolds majority interest to Nestle USA, Inc., were terminated when the companies could not agree on definitive terms to complete the transaction.
 Reynolds indicated that, in line with its previously announced strategy, proceeds from the offering would be reinvested in core businesses.
 -0- 1/17/92
 NOTE: This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any State in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
 /CONTACT: R. Terry Olbrysh, Reynolds Metals Company, 804-281-2965, or 804-560-3267 (H)/
 (RLM) CO: Reynolds Metals Company; Eskimo Pie Corporation ST: Virginia IN: MNG SU: TNM OFR


DF -- CH002 -- 0860 01/17/92 09:00 EST
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Publication:PR Newswire
Date:Jan 17, 1992
Words:219
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