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CPC International repurchased 8.2% of its shares.

November 06, 1986

The company, whose products include Best Foods mayonnaise, Mazola corn oil and Skippy peanut butter, bought back about 4 million of its shares, valued at about $325 million, from an investor group that it did not identify. Wall Street sources, who agreed to discuss the matter on the condition that they not be identified, confirmed rumors that the group was led by Ronald O. Perelman, chairman of Revlon Group, and that it had sold its CPC shares to Salomon Bros. CPC, in turn, bought the shares from Salomon Bros.

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