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BRIEFLY

Also. . .

January 17, 2001

* United Parcel Service Inc. said it agreed to buy First International Bancorp Inc. for about $78 million in stock, using the bank's expertise in handling government-backed loans to broaden the operations of its own financial services unit. First International primarily makes loans to small and mid-size manufacturers, distributors and wholesalers, using U.S. government-backed loan programs through the Small Business Administration, the Agriculture Department and the Export-Import Bank of the U.S. The acquisition will add to UPS earnings beginning in 2002, UPS said.

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* Sara Lee Corp., the maker of baked goods and Hanes clothing, said it's in talks to sell its French bakery business to Saveurs de France. Terms under discussion for the sale of the Brossard unit were not disclosed. In May, Sara Lee said it would sell some businesses, including Coach leather, Champion clothing and its food-service operation, to focus on brands that are market leaders and can be sold globally.

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