What's next, cheesesteaks on the Champs-Elysees?

Article Abstract:

GMAC Commercial Mortgage, a commercial mortgage firm of Horsham, PA, together with the Texas-based Bass family, is seeking to jointly acquire a 70% interest in Credit Foncier de France SA, which controls the Societe Nouvelle d'Exploitation de la Tour Eiffel in Paris, France, from France. The bid has raised disapproval from conservatives in Paris' City Council and unionists in Credit Foncier despite assurance from City Mayor Jean Tiberi, that the monument will not be controlled by foreigners. Meanwhile, Credit Foncier union officials accused French Finance Minister Dominique Strauss-Kahn of delaying the decision to sell Credit Foncier until fall 1998. GMAC said it is willing to cooperate with authorities to ensure that the tower will remain a French institution.

Comment:

Is seeking to jointly buy 70% of Credit Foncier de France SA with the Bass family from France

Foreign operations, France, Mortgage Bankers, Real Estate Credit, Mortgage Bankers & Brokers, Mortgage and Nonmortgage Loan Brokers, Mortgage banks, Credit Foncier de France S.A., GMAC Commercial Mortgage

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Peco, partner to buy TMI unit

Article Abstract:

AmerGen Energy Co., a joint venture of Peco Energy Co. and British Energy PLC, will pay GPU Inc. $100 million to acquire the undamaged Unit 1 at Three Mile Island, the area on the Susquehanna River 10 miles southeast of Harrisburg, PA, where the country's worst commercial and nuclear accident occurred. The sale is in line with Morristown, NJ-based GPU's plan to abandon the power-generation market and focus on distribution. Although AmerGen is equally controlled by Peco and British Energy, Peco would be the owner of record in compliance with a law that bars foreign ownership of US commercial nuclear facilities.

Comment:

Will pay GPU Inc $100 mil to acquire the undamaged Unit 1 at Three Mile Island in Harrisburg, PA

Electric Utilities, Electric Power Generation, Transmission and Distribution, Facilities & equipment, Nuclear Electric Power, Nuclear Electric Power Generation, Pennsylvania, Nuclear energy, GPU Inc., AmerGen Energy Co.

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Tyco to get AMP in a stock swap worth $11 billion

Article Abstract:

Tyco International Ltd. has announced it will acquire AMP Inc. of Harrisburg, PA, in a stock swap valued at $11.3 billion. AMP has 47,000 employees which could face layoffs due to Tyco's history of cutting costs quickly after acquisitions. According to Richard Skaare, a spokesman for AMP, the merger is not expected to result in any job losses beyond the 4,400 cuts announced earlier by AMP in 1998. Both companies make complementary electronic products. Tyco manufactures products ranging from security systems to industrial valves to surgical staples, while AMP makes electronic connection devices.

Other Communications Equipment Manufacturing, Other Electrical Equipment and Component Manufacturing, Intercom, Signal & Alarm Eqp, Electronic Components, Telecommunications equipment, Abstract, Tyco International Ltd. (Pembroke, New Hampshire), TYC, AMP Inc., AMP

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