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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): May 2, 1994
GREYHOUND FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-7543 94-1278569
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
DIAL CORPORATE CENTER, PHOENIX, ARIZONA 85077
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 602/207-6900
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Item 5. Other Events.
GFC Financial Corporation, the parent company of Greyhound
Financial Corporation, announced on May 2, 1994 the completion
of the acquisition of TriCon Capital Corporation, the Paramus,
New Jersey-based commercial finance and equipment leasing
services subsidiary of Bell Atlantic Corporation, in an
all-cash transaction valued at $344.3 million.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit Title
------- -----
28 Press Release of GFC Financial Corporation
dated May 2, 1994
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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.
GREYHOUND FINANCIAL CORPORATION
(Registrant)
Dated: May 2, 1994 By /s/ Bruno A. Marszowski
------------------------------------------------
Bruno A. Marszowski, Vice President - Controller
Principal Financial Officer/Authorized Officer
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Exhibit 28
Nancy Archer 5/02/94
602/ 207-2821
GFC FINANCIAL CORPORATION
COMPLETES ACQUISITION OF BELL ATLANTIC
COMMERCIAL FINANCE UNIT
PHOENIX, Arizona, May 2, 1994 -- GFC Financial Corporation (NYSE:GFC) has
completed the acquisition of TriCon Capital Corporation, the Paramus, New
Jersey-based commercial finance and equipment leasing services subsidiary of
Bell Atlantic Corporation, in an all- cash transaction valued at $344.3
million, Samuel L. Eichenfield, Chairman of GFC, said today.
Mr. Eichenfield stated, "We are excited about the addition of TriCon
into the GFC organization. TriCon provides critical mass to GFC Financial as
well as earnings power, while increasing our assets by more than fifty percent
to $5 billion, and further enhancing our position as a lender to the
middle-market."
On a pro forma basis, TriCon Capital reported income from continuing
operations of $31.6 million in 1993 on total revenues of $245.3 million, with
assets of $1.8 billion at year-end. TriCon Capital is a niche-oriented
provider of middle-market financing, with seven specialized business groups
that serve three market sectors nationally: end-user (medical
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finance, commercial equipment and government), program financing (vendor
service, franchise finance and commercial credit groups) and capital services.
GFC Financial is a major domestic commercial finance company that
provides secured financing in selected markets: corporate finance,
transportation, communications, commercial real estate and resort finance. GFC
Financial also provides asset based lending, consumer rediscounting, and
factoring.
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