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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: April 2, 1997
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(Date of earliest event reported)
HELLER FINANCIAL, INC.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
1-6157 36-1208070
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(Commission File Number) (IRS Employer Identification Number)
500 West Monroe Street, Chicago, Illinois 60661
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(Address of principal executive offices) (Zip Code)
(312) 441-7000
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(Registrant's telephone number, including area code)
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Item 5. Other Events
On April 2, 1997, Heller Financial, Inc. (the "Registrant") issued a Press
Release announcing its acquisition of Compagnie de Suez' 50% share in the French
factoring company Factofrance Heller, giving the Registrant sole ownership.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99 Heller Financial, Inc. - Announcement of the acquisition of Compagnie de
Suez' 50% share in Factofrance Heller
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Dated: April 3, 1997
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HELLER FINANCIAL, INC.
By: Lawrence G. Hund
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Lawrence G. Hund
Title: Senior Vice President, Controller
and Chief Accounting Officer
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EXHIBIT INDEX
Exhibit Sequentially
Number Numbered Pages
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99 Heller Financial, Inc. - Announcement of the acquisition 4
of Compagnie de Suez' 50% share in Factofrance Heller
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Heller Finalizes Purchase of Factofrance Heller
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(Chicago, IL April 2, 1997) -- Heller Financial, Inc. announced that its
international unit today finalized the purchase of Compagnie de Suez' 50 percent
share in Factofrance Heller. The sale gives Heller sole ownership of the French
factoring company following more than 30 years of joint control.
Founded in 1965, Factofrance Heller is the leading factoring company in
France and the third largest factor in the world. Long the market leader in
France, Factofrance Heller provides a full range of financial services including
accounts receivable financing and management as well as credit insurance to more
than 2,500 clients. Factofrance Heller's extensive client base includes a well
balanced mix of small- to mid-sized, high growth companies that use factoring to
finance their working capital needs. In 1996, the company had in excess of $10
billion in factoring volume and more than $2 billion in assets. With
headquarters in Paris and an additional seven regional offices, the company
employs approximately 500 people.
"We are pleased with the expansion of our ownership in Factofrance Heller,"
said Richard J. Almeida, Heller Financial's Chairman and CEO. "With a
consistent track record of profitability and growth, as well as local market
knowledge and in-depth finance expertise, we are confident that Factofrance
Heller will continue to grow its client base in France and the surrounding
countries."
"This move also helps Heller Financial meet our strategic goals of
strengthening our global factoring franchise, growing our lower risk asset-based
products, and further diversifying our assets and earnings," Almeida continued.
Heller Financial, Inc., a worldwide commercial financial services
organization, is a wholly-owned subsidiary of the Fuji Bank, Limited, one of the
world's largest banks. Heller International Group operates in 18 European, Asia
Pacific and Latin American countries through joint venture and wholly owned
companies that specialize in factoring, asset-based finance, acquisition
finance, leasing, vendor finance and trade finance.
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