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BRIEFLY

August 19, 1986

Automatic Data Processing Inc., Bank of America, Cu-ATM Cooperative and Southland Corp. agreed to form a partnership providing a network of cash-dispensing machines at California 7-Eleven stores . . . American Savings & Loan said it completed its acquisition of 16 branches from Sears Savings Bank . . . A management group completed its $69.3-million buyout of Nutri/System Inc., the owner and franchiser of weight-loss centers. Included in the buyout was the stock of founder Harold Katz . . . Tosco Corp. restated its net income for the second quarter ended June 30 to reflect a payment of $6.8 million to settle litigation. Tosco's second-quarter income is now $53.7 million . . . Ducommun Inc., a Los Angeles manufacturer and distributor of electronic, computer and aerospace products, said it signed a three-year, $122.7-million revolving credit agreement with a group of financial institutions led by Security Pacific National Bank . . . Quaker Oats said it completed its $275-million purchase of Golden Grain Macaroni Co., a San Leandro, Calif., pasta maker whose products include Rice-A-Roni, Golden Grain and Mission pasta, Ghirardelli Chocolate and Vernell candy . . . Houston-based Tenneco and ICH Corp. of Louisville, Ky., said they signed a definitive agreement for Tenneco to sell its life insurance subsidiaries to ICH for $1.36 billion.

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