STI GROUP APPROVES ACQUISITION OF GREAT AMERICAN LIFE INSURANCE CO.
STAMFORD, Conn., Dec. 28 /PRNewswire/ -- STI Group, Inc. (NYSE: SPG) announced today that stockholders had approved the acquisition of Great American Life Insurance Company at a meeting held today in Cincinnati. The closing of the transaction is expected to occur on Dec. 31, 1992 after completion of final documentation. As previously announced, Great American Life Insurance Company is a subsidiary of American Financial Corporation, and as a result of the transaction approximately 80 percent of STI's outstanding shares will be owned by American Financial. Upon consummation of the transaction, STI Group will be renamed American Annuity Group, Inc. and its common stock will be traded on the NYSE under the symbol AAG. -0- 12/28/92 /CONTACT: R. Kevin Matz, assistant treasurer of STI Group, Inc., 203-964-8628/ (SPG)
CO: STI Group, Inc.; Great American Life Insurance Company ST: Connecticut IN: CPR SU: TNM
LR-OS -- NY034 -- 0131 12/28/92 15:47 EST
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|Date:||Dec 28, 1992|
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