SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 30, 1994
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Commercial Credit Company
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(Exact name of registrant as specified in its charter)
Delaware 1-6594 52-0883351
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
300 Saint Paul Place, Baltimore, Maryland 21202
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(Address of principal executive offices) (Zip Code)
(410) 332-3000
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(Registrant's telephone number, including area code)
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COMMERCIAL CREDIT COMPANY
Current Report on Form 8-K
Item 5. Other Events
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On November 30, 1994, Commercial Credit Company ("CCC") agreed to
sell its 50% interest in Commercial Insurance Resources, Inc. ("CIRI"),
which owns Gulf Insurance Company ("Gulf"), to The Travelers Indemnity
Company ("Travelers Indemnity"), for a purchase price of $150 million.
Travelers Indemnity acquired the other 50% of CIRI in December 1992,
and will own 100% of CIRI upon completion of the transaction. Both CCC
and Travelers Indemnity are indirect wholly owned subsidiaries of The
Travelers Inc. At September 30, 1994, Gulf had total assets of
approximately $950 million. The transaction, which is subject to
regulatory approvals, is expected to be completed on December 30, 1994.
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SIGNATURE
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 hereunto duly authorized.
Dated: December 7, 1994 COMMERCIAL CREDIT COMPANY
By: /s/ Firoz B. Tarapore
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Firoz B. Tarapore
Vice President
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