GREAT WESTERN FINANCIAL CORP
SC 13G/A, 1994-02-10
SAVINGS INSTITUTION, FEDERALLY CHARTERED
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<TABLE>
<S>                                                                        <C>                           
                                                                                     OMB APPROVAL        
                                 UNITED STATES                             OMB number:          3235-0145
                       SECURITIES AND EXCHANGE COMMISSION                  Expires:      October 31, 1994
                            WASHINGTON, D.C.  20549                        Estimated average burden      
                                                                           hours per response . . . 14.90
                                                                                                         
                                 SCHEDULE 13G

                   UNDER THE SECURITIES EXCHANGE ACT OF 1934
                                                
                               (AMENDMENT NO. 3)*
                                                 


                         GREAT WESTERN FINANCIAL CORP.
                                (Name of Issuer)

                                     COMMON
                         (Title of Class of Securities)

                                   391442100
                                 (CUSIP Number)
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Check the following box if a fee is being paid with this statement [ ].  (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).

*The remainder of this cover page shall be filled out for a reporting 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 the
disclosures provided in a prior cover page.

The information required in 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).





SEC 1745 (2/92)                  Page 1 of 4 pages
<PAGE>   2
CUSIP No. 391442100                      13G                Page 2 OF 4 PAGES


       NAME OF REPORTING PERSON
   1   S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
       THE CAPITAL GROUP, INC.
       86-0206507

       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
   2                                                          (a) [ ]
                                                              (b) [ ]

       SEC USE ONLY
   3

       CITIZENSHIP OR PLACE OF ORGANIZATION
   4
       DELAWARE

                                   SOLE VOTING POWER
                              5       
         NUMBER OF                 2,102,440
                                       
          SHARES
                                   SHARED VOTING POWER
       BENEFICIALLY           6
                                   NONE
         OWNED BY

           EACH                    SOLE DISPOSITIVE POWER
                              7       
         REPORTING                 12,914,030
                                       
          PERSON
                                   SHARED DISPOSITIVE POWER
           WITH               8
                                   NONE

       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   9      
       12,914,030     Beneficial ownership disclaimed pursuant to Rule 13d-4
           
       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
  10

       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
  11      
       9.78%
           
       TYPE OF REPORTING PERSON*
  12
       HC


                      *SEE INSTRUCTION BEFORE FILLING OUT!





                               Page 2 of 4 pages
<PAGE>   3
CUSIP No. 391442100                      13G                Page 3 OF 4 PAGES


       NAME OF REPORTING PERSON
   1   S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
       CAPITAL RESEARCH AND MANAGEMENT COMPANY
       95-1411037

       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
   2                                                        (a) [ ]
                                                            (b) [ ]

       SEC USE ONLY
   3



       CITIZENSHIP OR PLACE OF ORGANIZATION
   4
       DELAWARE

                                   SOLE VOTING POWER
                              5
         NUMBER OF                 NONE

          SHARES
                                   SHARED VOTING POWER
       BENEFICIALLY           6
                                   NONE
         OWNED BY

           EACH                    SOLE DISPOSITIVE POWER
                              7       
         REPORTING                 9,135,000
                                       
          PERSON
                                   SHARED DISPOSITIVE POWER
           WITH               8
                                   NONE

       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   9      
       9,135,000      Beneficial ownership disclaimed pursuant to Rule 13d-4
           
       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
  10

       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
  11      
       6.92%
           
       TYPE OF REPORTING PERSON*
  12
       IA


                      *SEE INSTRUCTION BEFORE FILLING OUT!





                               Page 3 of 4 pages
<PAGE>   4
                                                                       Page 4
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, DC  20549

                                  Schedule 13G
                   Under the Securities Exchange Act of 1934


                                     
Fee enclosed [ ]  or Amendment No. 3
                                      
Item 1(a)      Name of Issuer:
               Great Western Financial Corp.

Item 1(b)      Address of Issuer's Principal Executive Offices:
               8484 Wilshire Blvd.
               Beverly Hills, CA  90211

Item 2(a)      Name of Person(s) Filing:
               The Capital Group, Inc. and Capital Research and Management
               Company

Item 2(b)      Address of Principal Business Office:
               333 South Hope Street
               Los Angeles, CA  90071

Item 2(c)      Citizenship:   N/A 

Item 2(d)      Title of Class of Securities:  Common

Item 2(e)      CUSIP Number:  391442100

Item 3         The person(s) filing is(are):

               (b)   [ ]   Bank as defined in Section 3(a)(6) of the Act.
               (e)   [x]   Investment Adviser registered under Section 203 of
                           the Investment Advisers Act of 1940.
               (g)   [x]   Parent Holding Company in accordance with Section
                           240.13d-1(b)(1)(ii)(G).

Item 4         Ownership

               (a)   Amount Beneficially Owned:
                     See item 9, pg. 2 and 3
               (b)   Percent of Class:  See item 11, pg. 2 and 3
               (c)   Number of shares as to which such person has:
                     i)    sole power to vote or to direct the vote  See item
                           5, pg. 2 and 3
                     ii)   shared power to vote or to direct the vote  None
                     iii)  sole power to dispose or to direct the disposition
                           of  See item 7, pg. 2 and 3
                     iv)   shared power to dispose or to direct the disposition
                           of None - beneficial ownership disclaimed pursuant
                           to Rule 13d- 4

Item 5         Ownership of 5% or Less of a Class:  N/A

Item 6         Ownership of More than 5% on Behalf of Another Person:  N/A
   
Item 7         Identification and Classification of the Subsidiary Which
               Acquired the Security Being Reported on By the Parent Holding 
               Company

               (1)   Capital Guardian Trust Company is a Bank as defined in
                     Section 3(a)(6) of the Act and a wholly owned subsidiary
                     of The Capital Group, Inc.
               (2)   Capital Research and Management Company is an Investment
                     Adviser registered under Section 203 of the Investment
                     Advisers Act of 1940 and is a wholly owned subsidiary of
                     The Capital Group, Inc.
               (3)   Capital International Limited (CIL) does not fall within
                     any of the categories described in Rule 13d-1-(b)(ii)(A-F)
                     but its holdings of any reported securities come within
                     the five percent limitation as set forth in a December 15,
                     1986 no- action letter from the Staff of the Securities
                     and Exchange Commission to The Capital Group, Inc.  CIL is
                     a wholly owned subsidiary of The Capital Group, Inc.
               (4)   Capital International S.A. (CISA) does not fall within any
                     of the categories described in Rule 13d-1-(b)(ii)(A-F) but
                     its holdings of any reported securities come within the
                     five percent limitation as set forth in a December 15,
                     1986 no-action letter from the Staff of the Securities and
                     Exchange Commission to The Capital Group, Inc.  CISA is a
                     wholly owned subsidiary of The Capital Group, Inc.

Item 8         Identification and Classification of Members of the Group:  N/A

Item 9         Notice of Dissolution of the Group:  N/A

Item 10        Certification

               By signing below, I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired in the ordinary
course of business and were not acquired for the purpose of and do not have the
effect of changing or influencing the control of the issuer of such securities
and were not acquired in connection with or as a participant in any transaction
having such purpose or effect.

               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.
          
Date:  February 11, 1994
           
Signature:     /s/ Philip de Toledo
Name/Title:    Philip de Toledo, Vice President and Treasurer
               The Capital Group, Inc. 
          
Date:  February 11, 1994
           
Signature:     /s/ Paul G. Haaga, Jr.
Name/Title:    Paul G. Haaga, Jr., Senior Vice President
               Capital Research and Management Company
<PAGE>   5
                                   AGREEMENT



                                   Los Angeles, California
                                      
                                   February 11, 1994
                                       

               Capital Research and Management Company ("CRMC") and The Capital
Group, Inc. ("CG") hereby agree to file a joint statement on Schedule 13G under
the Securities Exchange Act of 1934 (the "Act") in connection with their
beneficial ownership of common stock issued by Great Western Financial Corp.

               CRMC and CG state that they are both entitled to individually
use Schedule 13G pursuant to Rule 13d-1(c) of the Act.

               Both CRMC and CG are responsible for the timely filing of the
statement and any amendments thereto, and for the completeness and accuracy of
the information concerning each of them contained therein but neither is
responsible for the completeness or accuracy of the information concerning the
other.

                                   CAPITAL RESEARCH AND MANAGEMENT COMPANY



                                   BY:    /s/ Paul G. Haaga, Jr.              
                                          Paul G. Haaga, Jr.
                                          Senior Vice President


                                   THE CAPITAL GROUP, INC.



                                   BY:    /s/ Philip de Toledo                
                                          Philip de Toledo
                                          Vice President and Treasurer





                                   EXHIBIT A


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