March 4, 1999 |
Auto retailer Republic Industries Inc. plans a public sale of its remaining stake in trash hauler Republic Services Inc. after failing to get government approval for a tax-free shareholder distribution. Republic Industries expects to sell 112 million common shares of Republic Services, the fourth-largest U.S. trash hauler, in the second quarter.
April 23, 1998
* Germany's Hoechst agreed to sell its Trevira polyester unit for at least $2.7 billion to Koch Industries Inc., the second-largest privately held company in the U.S., and Grupo Xtra, a private company in Mexico. It did not release details of the sale. * Republic Industries Inc. agreed to buy Driver's Mart Worldwide Inc., a closely held franchiser of used-car superstores, for $40 million in cash, to accelerate the expansion of Republic's AutoNation USA used-car mega-stores.
June 21, 1997 |
In the next two years, Republic Industries Inc. may consider spinning off its waste-management and security businesses into a separate public company, Chairman and Co-Chief Executive H. Wayne Huizenga said. Analysts have advised Republic that it could be valued at a higher price by splitting into two companies once its auto-retailing business is better established. Waste management and security are expected to account for more than $1 billion of the Fort Lauderdale, Fla.
February 13, 1999 |
Republic Industries Inc. said Friday that it has acquired the Lew Webb Lexus dealership in Cerritos under an option issued when it purchased the rest of Irvine-based Webb Automotive Group's operations last year for more than $100 million. Separately Friday, Florida-based Republic confirmed its previously reported deal to purchase the bulk of the operations of another major Orange County dealership group, Tustin-based MacPherson Enterprises.
February 26, 1997
Republic Industries Inc. completed its $2.5-billion acquisition of National Car Rental System Inc. Republic said it will issue stock worth $803 million and assume Minneapolis-based National's $1.7 billion in debt. In early January, the 21.7 million shares it issued were valued at $600 million, but the shares have surged since then. Fort Lauderdale, Fla.-based Republic, led by billionaire H.
September 4, 1998 |
Republic Industries Inc. agreed to buy Cross-Continent Auto Retailers Inc. for $187 million in cash and assumed debt in its first purchase of a publicly traded dealership. Republic, the world's largest retailer of cars and trucks, said it will pay $10.70 a share for Amarillo, Texas-based Cross-Continent, a 66% premium to Wednesday's closing price of $6.44, and assume $42 million in debt. The purchase will add dealerships in Colorado, Nevada, Oklahoma and Texas. Fort Lauderdale, Fla.