Giant French firm swallows Centre County water bottler

Article Abstract:

Danone Group, a Paris, France-based food company, will purchase AquaPenn Spring Water Co., a water bottling firm based in Milesburg, Centre County in Pennsylvania, for $112 million. The deal, which involves cash offer of $13 per share, is part of Danone's plan to expand its Dannon Natural Spring Water brand that has been limited to production in Utah and Quebec. AquaPenn, which has facilities in Milesburg, High Springs, FL, and Dunsmuir, CA, had sales of $38 million in 1997. Danone, on the other hand, posted 1997 sales of more than $15 billion.

Comment:

Will purchase AquaPenn Spring Water Co, a water bottling firm based in Milesburg, PA, for $112 mil, US

United States, Foreign operations, France, Bottled Water, Bottled Water Manufacturing, Bottled drinking water, AquaPenn Spring Water Inc., Danone Group

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Atlanta's Sun Trust casts merger rays on Va. bank

Article Abstract:

SunTrust Banks Inc. of Atlanta, GA, is purchasing Crestar Financial Corp. of Virginia in a deal worth $8.4 billion. Crestar shareholders are set to receive 0.96 of a SunTrust share for each share of Crestar stock. The purchase, which has been approved by both banks' board of directors but is still awaiting approval from shareholders and banking regulators, is set to establish the 10th biggest bank in the US, with assets worth approximately $88 billion. Both SunTrust and Crestar started their negotiations in March 1998.

Comment:

Is purchasing Crestar Financial Corp of Virginia in a deal worth $8.4 billion

Commercial Banks, Commercial Banking, Virginia, Georgia, SunTrust Banks Inc.

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Dressed to sell

Article Abstract:

GPU Inc. of New Jersey has decided to sell its used Three Mile Island nuclear reactor in Susquehanna, NJ. GPU Chairman and CEO Fred Hafer stated in June 1998 that he had been discussing the sale of the Unit 1 nuclear plant, which is reportedly worth $600 million, with a potential buyer, which he refused to divulge the identity, and that he intended to announce the deal by the end of July 1998. GPU also hopes to be able to sell its Oyster Creek nuclear plant in Forked River, NJ, in a similar deal.

Comment:

Decides to sell its used Three Mile Island nuclear reactor in Susquehanna, NJ

New Jersey, Nuclear Electric Power, Nuclear Electric Power Generation, Nuclear energy, GPU Inc.

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