UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 8)*
The Grand Union Company
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $1.00 per share
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(Title of Class of Securities)
386532303
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(CUSIP Number)
Michael M. Pastore, Esq. GE Investment Management Incorporated
3003 Summer Street, Stamford CT 06905 Ph. (203) 326-2312
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
May 15, 1998
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box. |_|
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
*The remainder of this cover page shall be filled out for a person's initial
filing on this form with respect to the subject class of securities, and for any
subsequent amendment containing information which would alter disclosures
provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMR control number.
<PAGE>
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1. Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
Trefoil Capital Investors II, L.P. (EIN 95-4499689)
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
--------------------------------------------------------------------
(b) X
- --------------------------------------------------------------------------------
3. SEC Use Only
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4. Source of Funds (See Instructions) OO
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)
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6. Citizenship or Place of Organization
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Delaware
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Number of 7. Sole Voting Power 17,610,674
Shares
Beneficially 8. Shared Voting Power 0
Owned by
Each 9. Sole Dispositive Power 17,610,674
Reporting
Persons With 10. Shared Dispositive Power 0
11. Aggregate Amount Benefically Owned by Each Reporting Person 35,221,348
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) Not Applicable
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13. Percent of Class Represented by Amount in Row (11) 77.57%
- --------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions) PN
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<PAGE>
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1. Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
Trefoil Investors II, Inc. (EIN 95-4498559)
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
--------------------------------------------------------------------
(b) X
- --------------------------------------------------------------------------------
3. SEC Use Only
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4. Source of Funds (See Instructions) 00
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)
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6. Citizenship or Place of Organization
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Delaware
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Number of 7. Sole Voting Power 17,610,674
Shares
Beneficially 8. Shared Voting Power 0
Owned by
Each 9. Sole Dispositive Power 0
Reporting
Persons With 10. Shared Dispositive Power 17,610,674
11. Aggregate Amount Benefically Owned by Each Reporting Person 35,221,348
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) Not Applicable
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11) 77.57%
- --------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions) CO
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<PAGE>
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1. Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
Sigma Hedge Partners, G.P. (EIN 06-1420583)
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
--------------------------------------------------------------------
(b) X
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds (See Instructions) 00
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)
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6. Citizenship or Place of Organization
- --------------------------------------------------------------------------------
Delaware
- --------------------------------------------------------------------------------
Number of 7. Sole Voting Power 0
Shares
Beneficially 8. Shared Voting Power 0
Owned by
Each 9. Sole Dispositive Power 0
Reporting
Persons With 10. Shared Dispositive Power 17,610,674
11. Aggregate Amount Benefically Owned by Each Reporting Person 35,221,348
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) Not Applicable
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11) 77.57%
- --------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions) PN
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<PAGE>
- --------------------------------------------------------------------------------
1. Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
Delta PT Investors Corporation (EIN 06-1420580)
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
--------------------------------------------------------------------
(b) X
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds (See Instructions) 00
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
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Delaware
- --------------------------------------------------------------------------------
Number of 7. Sole Voting Power 0
Shares
Beneficially 8. Shared Voting Power 0
Owned by
Each 9. Sole Dispositive Power 0
Reporting
Persons With 10. Shared Dispositive Power 17,610,674
11. Aggregate Amount Benefically Owned by Each Reporting Person 35,221,348
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) Not Applicable
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11) 77.57%
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14. Type of Reporting Person (See Instructions) CO
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<PAGE>
- --------------------------------------------------------------------------------
1. Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
Epsilon Equities, Inc. (EIN 06-1420581)
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
--------------------------------------------------------------------
(b) X
- --------------------------------------------------------------------------------
3. SEC Use Only
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4. Source of Funds (See Instructions) 00
- --------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
- --------------------------------------------------------------------------------
Delaware
- --------------------------------------------------------------------------------
Number of 7. Sole Voting Power 0
Shares
Beneficially 8. Shared Voting Power 0
Owned by
Each 9. Sole Dispositive Power 0
Reporting
Persons With 10. Shared Dispositive Power 0
11. Aggregate Amount Benefically Owned by Each Reporting Person 35,221,348
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) Not Applicable
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11) 77.57%
- --------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions) CO
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<PAGE>
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1. Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
Trustees of General Electric Pension Trust (EIN 14-6015763)
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
--------------------------------------------------------------------
(b) X
- --------------------------------------------------------------------------------
3. SEC Use Only
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4. Source of Funds (See Instructions) 00
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
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New York
- --------------------------------------------------------------------------------
Number of 7. Sole Voting Power 0
Shares
Beneficially 8. Shared Voting Power 0
Owned by
Each 9. Sole Dispositive Power 0
Reporting
Persons With 10. Shared Dispositive Power 17,610,674
11. Aggregate Amount Benefically Owned by Each Reporting Person 35,221,348
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) Not Applicable
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11) 77.57%
- --------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions) EP
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<PAGE>
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1. Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
GE Investment Private Placement Partners II, a Limited Partnership
(EIN 06-1429671)
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
--------------------------------------------------------------------
(b) X
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds (See Instructions) 00
- --------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
- --------------------------------------------------------------------------------
Delaware
- --------------------------------------------------------------------------------
Number of 7. Sole Voting Power 17,610,674
Shares
Beneficially 8. Shared Voting Power 0
Owned by
Each 9. Sole Dispositive Power 17,610,674
Reporting
Persons With 10. Shared Dispositive Power 0
11. Aggregate Amount Benefically Owned by Each Reporting Person 35,221,348
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) Not Applicable
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11) 77.57%
- --------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions) PN
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<PAGE>
- --------------------------------------------------------------------------------
1. Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
GE Investment Management Incorporated (EIN 06-1238874)
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
--------------------------------------------------------------------
(b) X
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds (See Instructions) Not Applicable
- --------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e)
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
- --------------------------------------------------------------------------------
Delaware
- --------------------------------------------------------------------------------
Number of 7. Sole Voting Power 17,610,674
Shares
Beneficially 8. Shared Voting Power 0
Owned by
Each 9. Sole Dispositive Power 17,610,674
Reporting
Persons With 10. Shared Dispositive Power 0
11. Aggregate Amount Benefically Owned by Each Reporting Person 35,221,348
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) Not Applicable
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11) 77.57%
- --------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions) CO
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<PAGE>
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1. Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
General Electric Company (EIN 14-0689340)
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
--------------------------------------------------------------------
(b) X
- --------------------------------------------------------------------------------
3. SEC Use Only
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4. Source of Funds (See Instructions) Not Applicable
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e) X
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6. Citizenship or Place of Organization
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New York
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Number of 7. Sole Voting Power Disclaimed (see 11 below)
Shares
Beneficially 8. Shared Voting Power 0
Owned by
Each 9. Sole Dispositive Power Disclaimed (see 11 below)
Reporting
Persons With 10. Shared Dispositive Power 0
11. Aggregate Amount Benefically Owned by Each Reporting Person Beneficial
ownership of all shares disclaimed by General Electric Company
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) Not Applicable
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11) Not Applicable
- --------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions) CO
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<PAGE>
ITEM 1. Security and Issuer.
Item 1 of the Schedule 13D is hereby amended and supplemented to add
the following:
This Amendment No. 8 amends and supplements the Statement on
Schedule 13D filed by Trefoil Capital Investors II, L.P., a Delaware limited
partnership ("Trefoil"), Trefoil Investors II, Inc., a Delaware corporation
("Trefoil II"), Sigma Hedge Partners, G.P., a Delaware partnership ("Sigma"),
Delta PT Investors Corporation, a Delaware corporation ("Delta"), Epsilon
Equities, Inc., a Delaware corporation ("Epsilon"), the Trustees of General
Electric Pension Trust, a New York common law trust ("GEPT"), GE Investment
Private Placement Partners II, A Limited Partnership, a Delaware limited
partnership ("GEIPPPII"), GE Investment Management Incorporated, a Delaware
corporation ("GEIM") and General Electric Company, a New York corporation ("GE")
(collectively, the "Reporting Persons"), with the Securities and Exchange
Commission ("SEC") on August 12, 1996 and amended pursuant to Amendment No. 1
thereto filed on September 18, 1996, Amendment No. 2 thereto filed on February
27, 1997, Amendment No. 3 thereto filed on March 21, 1997, Amendment No. 4
thereto filed on May 29, 1997, Amendment No. 5 thereto filed on June 10, 1997,
Amendment No. 6 thereto filed on June 13, 1997 and Amendment No. 7 thereto filed
on April 28, 1998 (as amended, the "Schedule 13D"), relating to the common
stock, par value $1.00 per share (the "Common Stock") of The Grand Union Company
(the "Company"), which is issuable upon conversion of the shares of the
Company's Class A Convertible Preferred Stock, par value $1.00 per share ("Class
A Stock") and shares of Class B Convertible Preferred Stock, par value $1.00 per
share ("Class B Stock"). Capitalized terms used herein shall have the meanings
given to them in the Schedule 13D.
The Reporting Persons have entered into a Joint Filing Agreement,
dated as of May [18], 1998, attached hereto as Schedule I.
Item 4. Purpose of Transaction.
Item 4 of the Schedule 13D is hereby amended and supplemented to add
the following:
"On May 15, 1998, the Holders withdrew their opposition to the Plan
after they reached an agreement in principle with the Company and an unofficial
committee of holders of the Company's Senior Notes regarding revised terms of a
proposed capital restructuring plan, pursuant to which the holders of the
Company's preferred stock will receive, in exchange for the cancellation of the
existing preferred stock, consideration in the form of warrants to purchase new
common stock of the restructured Company as follows: (i) five-year warrants to
purchase an aggregate of 3,783,513 shares of new common stock at an exercise
price of $19.82 per share (representing 10.5% of the new common stock), (ii)
five-year warrants to purchase an aggregate of 942,791 shares of new common
stock at an exercise price of $23.15 per share (representing 2.5% of the new
common stock), and (iii) four-year warrants to purchase an aggregate of 306,122
shares of new common stock at an exercise price of $12.32 per share
(representing 1% of the new common stock)."
Page 11 of 22
<PAGE>
Signature
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: May 18, 1998
TREFOIL CAPITAL INVESTORS II, L.P.
By: Trefoil Investors II, Inc.,
a general partner
By: /s/ Michael J. McConnell
--------------------------------
Name: Michael J. McConnell
Title: Vice President
Page 12 of 22
<PAGE>
Signature
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: May 18, 1998
TREFOIL INVESTORS II, INC.
By: /s/ Michael J. McConnell
--------------------------------
Name: Michael J. McConnell
Title: Vice President
Page 13 of 22
<PAGE>
Signature
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: May 18, 1998
SIGMA HEDGE PARTNERS, G.P.
By: Delta PT Investors Corporation,
a general partner
By: /s/ Michael M. Pastore
--------------------------------
Name: Michael M. Pastore
Title: Vice President
Page 14 of 22
<PAGE>
Signature
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: May 18, 1998
DELTA PT INVESTORS CORPORATION
By: /s/ Michael M. Pastore
--------------------------------
Name: Michael M. Pastore
Title: Vice President
Page 15 of 22
<PAGE>
Signature
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: May 18, 1998
EPSILON EQUITIES, INC.
By: /s/ Michael M. Pastore
--------------------------------
Name: Michael M. Pastore
Title: Vice President
Page 16 of 22
<PAGE>
Signature
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: May 18, 1998
TRUSTEES OF GENERAL ELECTRIC
PENSION TRUST
By: /s/ Alan M. Lewis
--------------------------------
Name: Alan M. Lewis
Title: Trustee
Page 17 of 22
<PAGE>
Signature
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: May 18, 1998
GE INVESTMENT PRIVATE
PARTNERS II, A LIMITED PARTNERSHIP
By: GE Investment Management Incorporated,
as general partner
By: /s/ Michael M. Pastore
--------------------------------
Name: Michael M. Pastore
Title: Vice President
Page 18 of 22
<PAGE>
Signature
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: May 18, 1998
GE INVESTMENT MANAGEMENT
INCORPORATED
By: /s/ Michael M. Pastore
--------------------------------
Name: Michael M. Pastore
Title: Vice President
Page 19 of 22
<PAGE>
Signature
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: May 18, 1998
GENERAL ELECTRIC COMPANY
By: /s/ John H. Myers
--------------------------------
Name: John H. Myers
Title: Vice President
Page 20 of 22
<PAGE>
Schedule I
JOINT FILING AGREEMENT
This will confirm the agreement by and among all the undersigned
that the Amendment No. 8 to the Schedule 13D filed on this date with respect to
the beneficial ownership by the undersigned of shares of Common Stock of The
Grand Union Company is being filed on behalf of each of the undersigned. This
Agreement may be executed in two or more counterparts, each of which shall be
deemed an original, but all of which shall constitute one and the same
instrument.
Dated: May 18, 1998
TREFOIL CAPITAL INVESTORS II, L.P.
By: Trefoil Investors II, Inc.,
a general partner
By: Michael J. McConnell
--------------------------------
Name: Michael J. McConnell
Title: Vice President
TREFOIL INVESTORS II, INC.
By: /s/ Michael J. McConnell
--------------------------------
Name: Michael J. McConnell
Title: Vice President
SIGMA HEDGE PARTNERS, G.P.
By: Delta PT Investors Corporation,
a general partner
By: /s/ Michael M. Pastore
--------------------------------
Name: Michael M. Pastore
Title: Vice President
DELTA PT INVESTORS CORPORATION
By: /s/ Michael M. Pastore
--------------------------------
Name: Michael M. Pastore
Title: Vice President
EPSILON EQUITIES, INC.
By: /s/ Michael M. Pastore
--------------------------------
Name: Michael M. Pastore
Title: Vice President
Page 21 of 22
<PAGE>
TRUSTEES OF GENERAL ELECTRIC
PENSION TRUST
By: /s/ Alan M. Lewis
--------------------------------
Name: Alan M. Lewis
Title: Trustee
GE INVESTMENT PRIVATE
PARTNERS II, A LIMITED PARTNERSHIP
By: GE Investment Management Incorporated,
as general partner
By: /s/ Michael M. Pastore
--------------------------------
Name: Michael M. Pastore
Title: Vice President
GE INVESTMENT MANAGEMENT
INCORPORATED
By: /s/ Michael M. Pastore
--------------------------------
Name: Michael M. Pastore
Title: Vice President
GENERAL ELECTRIC COMPANY
By: /s/ John H. Myers
--------------------------------
Name: John H. Myers
Title: Vice President
Page 22 of 22
