Questions raised over land purchase by firm controlled by Rite Aid's CEO

Article Abstract:

The construction company thinks Rite Aid will build in Fairview Township, Pennsylvania, and state officials think it will. In fact, the Goverernor's Action Team offered the drugstore giant $10.8 million in incentives not to build a new headquarters in another state. The Penn. Dept. of Transportation is planning to spend almost $15 million in federal and state funds to make road improvements in connection with the 83-acre site. But a neighbor to the land says "there's a lot of hush-hush about this." Rite Aid CEO Martin Grass said in January that a shopping center will be built there.

Comment:

83 acres might be Rite Aid HQ or a shopping center

Drug stores and proprietary stores, Pharmacies and Drug Stores, Use of Funds, Drug Stores, Finance, Ethical aspects, Real estate investment, Real estate investments, Drugstores, Rite Aid Corp., RAD, Corporations, Family, Corporate corruption

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IMC Global to sell soda-ash division to Citigroup affiliate for $300 million

Article Abstract:

In an acquisition in April 1998, Illinois-based IMC Global Inc. inherited a soda-ash and boron division that it is now selling for $300 million. The purchaser is Mincorp LLC which is controlled by Citicorp Venture Capital of New York. The sale will allow IMC to focus on its phosphate and potash fertilizers, animal-feed ingredients and rock salt.

Comment:

Co. that controls Mincorp LLC that is buying a soda-ash and boron business from IMC

Asset sales & divestitures, Acquisitions & mergers, Alkalies and chlorine, Alkalies and Chlorine Manufacturing, Potash, soda, and borate minerals, Boron, Potash, Soda, and Borate Mineral Mining, Soda Ash, Mergers, acquisitions and divestments, IMC Global Inc., Boron (Chemical element), Citicorp Venture Capital Ltd., Sodium carbonate, Mincorp LLC

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