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Article: TLC Beatrice To Liquidate
- Article from:
- AP Online
- Article date:
- May 27, 1999
- Author:
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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PETER ALAN HARPER, AP Business Writer
AP Online
05-27-1999
TLC Beatrice To Liquidate
NEW YORK (AP) -- TLC Beatrice International Holdings Inc., once the nation's largest black-owned company, is being liquidated as part of an evolving strategy begun following the death of its founder Reginald Lewis six years ago.
The liquidation plan, announced Thursday along with the sale of its Spanish soft drink division, is expected to return a healthy profit for investors and the Lewis family, the company said.
That's in line with the long-term goal to generate shareholder wealth that Lewis set when he bought the company in 1987 in a $985 million leveraged buyout, said his widow Loida Nicolas Lewis -- ...
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