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Article: Ryder and Allied Holdings Sign Definitive Agreement For Sale of Ryder Automotive Carrier Services
- Article from:
- PR Newswire
- Article date:
- August 21, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MIAMI, Aug. 21 /PRNewswire/ -- Ryder System, Inc. (NYSE: R) and Allied Holdings, Inc. (Nasdaq: HAUL) have signed a definitive agreement for the sale to Allied of Ryder Automotive Carrier Services, Inc. and RC Management Corp. The transaction is expected to close by the end of September 1997.
On May 27, 1997, Ryder announced an agreement in principle to sell Ryder Automotive Carrier Services, Inc. and RC Management Corp. to Allied for approximately $114.5 million in cash and assumption of the liabilities of the businesses, contingent upon finalizing a definitive agreement for the sale and government regulatory approval. It was announced on July 8, 1997 that ...