FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of a Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month(s) of: October 26, 1999
NEWCOURT CREDIT GROUP INC.
Newcourt Centre, 207 Queens Quay West
Suite 700
Toronto, Ontario
Canada, M5J 1A7
[Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.]
Form 20-F / / Form 40-F /X/
[Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.]
Yes / / No /X/
[If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b)]
82-
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: October 26, 1999
NEWCOURT CREDIT GROUP INC.
/__________________________/
By: Scott J. Moore
Executive Vice President, Legal
and General Counsel and Secretary
News Release
For Immediate Release
Trading Symbol: NCT Media Contact: Carolyn Conner
(416) 507-5239
cel: (416) 616-0365
Exchange Listing: Toronto
Montreal
New York
Newcourt Shareholders Approve CIT Acquisition
TORONTO, Canada, October 26, 1999 - Newcourt Credit Group today announced the
approval by shareholders of its acquisition by The CIT Group (NYSE: CIT) as
outlined in the joint management information circular and proxy statement
dated September 21, 1999.
"Today, Newcourt shareholders endorsed a business combination that will
create a powerhouse in financial services," commented David Banks, Newcourt's
Chairman. "This is an exciting development for our customers and the
financial services industry as a whole."
"The strategic logic of this transaction remains clear for both Newcourt and
CIT shareholders," said Banks. "It combines CIT's extensive management
experience, 'best in class' credit capabilities and strong debt ratings with
Newcourt's innovative, entrepreneurial spirit and superior loan origination
platforms. I believe that shareholders will be rewarded for their support
and patience."
Newcourt Credit Group is one of the world's leading sources of asset-based
financing serving the corporate, commercial and institutional markets with
owned and managed assets of US$24.9 billion and a global capability in 26
countries. On August 5, 1999, Newcourt and CIT announced that they had signed
a new definitive agreement under which CIT would acquire Newcourt in an
exchange of .70 share of CIT stock for each share of Newcourt. The
combination of these two companies will create the largest publicly owned
commercial finance company.
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