January 16, 1997 |
Associates First Capital Corp., a finance company owned by Ford Motor Co., said it is in talks to acquire Texaco Inc.'s credit card services business, which has more than $700 million in receivables. Texaco's credit card unit has 9 million accounts, the company said. Associates First declined to say how much it would pay to acquire the oil company's unit. Recently, the Dallas-based company has been busy acquiring bank card accounts. Last week, Associates First announced an agreement to buy J.C.
February 10, 1996 |
Ford Unit Files for IPO: A Ford Motor Co. finance unit filed with the Securities and Exchange Commission to sell as much as 19.8% of its shares to the public in a first-time stock offering. The unit, called Associates First Capital Corp., said in the filing that it would sell at least $100 million of Class A shares, but the amount could go higher than $1 billion, based on other figures provided in the filing.
September 1, 1998 |
Associates First Capital Corp., America's largest consumer finance company, said it will buy the insurance business of privately held Northland Co. Dallas-based Associates will pay almost $700 million for the company, or about twice book value, a source familiar with the transaction said. Terms were not disclosed. The unit of Mendota Heights, Minn.-based Northland sells trucking and other commercial property-casualty insurance through independent agents.
January 8, 1999 |
Consumer finance giant Avco Financial Services, which has been acquired by a Texas-based rival, will close its headquarters in Costa Mesa, eliminating most of the 200 jobs there as part of a major consolidation, its new parent said Thursday. The move by Dallas-based Associates First Capital Corp. will deal Orange County a double blow, eliminating jobs and a high-profile corporation whose presence for three decades has helped business recruiters attract other companies to the county.
April 12, 2000 |
PanAmSat Corp., the largest commercial-satellite operator, said its first-quarter profit soared by 86% to $56.6 million, or 38 cents a share, well beyond the 19 cents analysts were expecting, as it sold more video, Internet and data services. The results sent shares in Greenwich, Conn.-based PanAmSat up $4.31, or 10%, to close at $49.75, on Nasdaq. PanAmSat, which is 81%-owned by General Motors Corp.'s Hughes Electronics unit, said revenue climbed 55% to $299.1 million.