SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 31, 1995
DynCorp
(Exact name of registrant as specified in its charter)
Delaware 1-3879 36-2408747
(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
2000 Edmund Halley Drive, Reston, Virginia 22091-3436
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (703)-264-0330
Not applicable
(Former name or former address, if changed since last report)
The registrant hereby amends its Form 8-K, Current Report, dated
September 11, 1995.
Item 2. Disposition of Assets
Item 2 has been amended in its entirety, to read as follows:
On August 31, 1995, the registrant sold the stock of all its
subsidiaries engaged in the business of commercial aviation ground handling
services, cargo handling, and refueling to ALPHA US Holdings, Inc., a Delaware
corporation which is a wholly owned subsidiary of ALPHA Airports Group Plc, a
company organized under the laws of England. Those subsidiaries are DynAv
Services, Inc., Air Carrier Services, Inc., DynAir CFE Services, Inc., DynAir
Technologies International, Inc., DynAir Services Inc., DynAir Maintenance,
Inc., DynCorp/DynAir Corporation, DAPSCO Inc., DynAir Fueling Inc., DynAir
Fueling of Nevada Inc., DynAir Euroservices (UK) Ltd., DynAir Euroservices
(Italia) S.p.A.., all of which were owned by the registrant as lower-tier
subsidiaries of its wholly owned subsidiary, DynCorp Aviation Services, Inc.
ALPHA Airports Group Plc is a publicly owned corporation whose shares are traded
on the London Stock Exchange, which has no relationship to the registrant or any
of its affiliates, to any director or officer of the registrant, or to any
associate of any such director or officer. The sale price for the stock of these
subsidiaries was $122,200,000 in cash, subject to a $300,000 increase in the
event of collection of certain accounts receivable. The amount of gain
incurred on the sale, net of income taxes, was $17,335,000.
The activities of these subsidiaries and the remainder of the
commercial aviation business have been reported as discontinued operations by
the registrant. See Current Report, Form 8-KA, dated May 9, 1996, and Second
Quarter Form 10-Q, dated August 14, 1995. The proceeds received will be used
primarily to retire debt and satisfy equipment funding obligations, which were
consistent with the assumptions made thereon, when the business was reclassified
as a discontinued operation. Accordingly, the effect of this transaction is to
increase cash with a corresponding reduction in net assets of discontinued
operations.
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 hereunto duly authorized;
DynCorp
Date: May 9, 1996 H. Montgomery Hougen
H. Montgomery Hougen
Vice President and Secretary
