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Stake Acquired in Fluorocarbon

June 16, 1989|From States News Service

A group led by New York investor Rohit M. Desai has acquired a 5.4% stake in Fluorocarbon Co. of Laguna Niguel.

The group, which includes Desai Capital Management Inc., an investment advisory firm, acquired $5 million of debentures that pay an interest rate of 8% and are convertible into common shares at $13.44 each, according to a Securities and Exchange Commission filing.

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