Deak to be sold
The listed investment banker, Jarden Morgan, has put its subsidiary Deak International Inc. on the market. Deak needed a cash injection and Jarden could not afford to help out, Jarden said in a statement to the Stock Exchange. ' "Critical to the continued growth of Deak International, is access to adequate funding lines and although Jarden Morgan would prefer to retain long-term ownership of Deak International Inc., it recognises that it does not have the resources to give
Deak the financial support which an international bank-ing-type organisation requires,” Jarden said. A memorandum of sale would be circulated to a range of interested bidders this week. First Boston Corporation in New York would be agents for the sale. At September 30 Deak International comprised about 35 per cent of the shareholders’ funds of Jarden Morgan and 75 per cent of its total debt.
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Press, 16 May 1989, Page 25
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145Deak to be sold Press, 16 May 1989, Page 25
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