<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of l934
(Amendment No. 1 )*
----------
Sterling Chemicals, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
858903 10 7
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(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ].
(A fee is not required only if the filing person: (l) has a previous statement
on file reporting beneficial ownership of more than five percent of the class
of securities described in Item l; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(see Rule l3d-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).
THIS SCHEDULE 13G IS RESTATED IN ITS ENTIRETY PURSUANT TO RULE 101 OF
REGULATION S-T. THE EFFECTED PORTIONS REQUIRING AMENDMENT ARE IN ITEM 4 AND
THE EXHIBIT.
Page 1 of 6 Pages
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CUSIP No. 858903 10 7 13G
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1) Names of Reporting Persons
S.S. or I.R.S. Identification Nos. of Above Persons
CIGNA Corporation
06-1059331
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) X
(b)
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3) SEC Use Only
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4) Citizenship or Place of Organization
Delaware
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(5) Sole Voting Power
0
Number of -----------------------------------------------------------
Shares
Beneficially (6) Shared Voting Power 3,092,376
Owned
by Each ------------------------------------------------------------
Reporting
Person (7) Sole Dispositive Power 0
With
------------------------------------------------------------
(8) Shared Dispositive Power 3,092,376
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9) Aggregate Amount Beneficially Owned by Each Reporting Person
3,092,376
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10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
( )
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11) Percent of Class Represented by Amount in Row 9
5.6%
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12) Type of Reporting Person (See Instructions)
HC, CO
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Page 2 of 6 Pages
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13G
ITEM 1(a)
Name of Issuer: Sterling Chemicals, Inc.
---------------------------------------------------------------
ITEM 1(b)
Address of Issuer's Principal Executive Offices:
1200 Smith Street, Suite 1900, Houston, TX 77002-4312
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ITEM 2(a)
Name of Person Filing: CIGNA Corporation
---------------------------------------------------------
ITEM 2(b)
Address of Principal Business Office or, if none, Residence:
One Liberty Place, Philadelphia, PA 19192
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ITEM 2(c)
Citizenship: Delaware
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ITEM 2(d)
Title of Class of Securities: Common Stock, $.01 par value
--------------------------------------------------
ITEM 2(e)
CUSIP Number: 858903 10 7
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ITEM 3
Classification of Person Filing:
This statement is not filed pursuant to Rule 13d-1(b) or as an amendment to a
statement filed pursuant to Rule 13d-1(b).
ITEM 4
Ownership.
The following ownership information is provided as of December 31, 1993.
(a) Amount Beneficially Owned:
3,092,376 shares of Common Stock
--------------------------------------------------------------
Page 3 of 6 Pages
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13G
(b) Percent of Class:
5.6%
-----------------------------------------------------------------
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote 0
---------------
(ii) shared power to vote or to direct the vote 3,092,376*
---------------
(iii) sole power to dispose or to direct the
disposition of 0
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(iv) shared power to dispose or to direct the
disposition of 3,092,376*
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*See attached Exhibit
ITEM 5
Ownership of Five Percent or Less of a Class.
Not Applicable
ITEM 6
Ownership of More than Five Percent on Behalf of Another Person.
See attached Exhibit
ITEM 7
Identification and Classification of the Subsidiary Which Acquired the Security
Being Reported on By the Parent Holding Company.
See attached Exhibit
ITEM 8
Identification and Classification of Members of the Group.
Not Applicable
ITEM 9
Notice of Dissolution of Group.
Not Applicable
Page 4 of 6 Pages
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13G
ITEM 10
CERTIFICATION
Not Applicable
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.
February 8, 1994
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Date
/s/ David C. Kopp
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Signature
David C. Kopp, Assistant Corporate Secretary
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Name/Title
Page 5 of 6 Pages
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13G
EXHIBIT
CIGNA Corporation ("CIGNA")is filing this Schedule 13G as the ultimate parent
company of the following wholly-owned corporate subsidiaries and of the general
partner of the following limited partnership. CIGNA may be deemed to have
shared voting power and shared dispositive power with respect to the shares of
Common Stock beneficially owned by such entities:
<TABLE>
<CAPTION>
Nature of
Identity Beneficial Ownership
<S> <C>
Connecticut General Life Direct owner of 784,584 shares
Insurance Company ("CG") Indirect owner of 7,136 shares*
CIGNA Property and Casualty Direct owner of 799,949
Insurance Company ("CPC") shares
CIGNA Funding Limited Beneficial owner of 1,500,707
Partnership ("Funding") shares owned by Morgan Stanley
Leveraged Mezzanine Fund, L.P.
("Partnership"), of which
Funding is a general partner.
</TABLE>
784,584 shares beneficially owned by CIGNA as the parent of CG, 784,583 of the
shares beneficially owned by CIGNA as the parent of CPC, and all of the shares
beneficially owned by CIGNA as the parent of Funding (totalling 3,069,874
shares) may be deemed to be held as a member of a group which includes the
Partnership and Morgan Stanley Group Inc. ("Morgan Stanley"), as the ultimate
parent company of Morgan Stanley Leveraged Capital Fund, Inc., the other
general partner of the Partnership. This group has previously filed a Schedule
13G which reports ownership of these shares and, to CIGNA's knowledge, such
ownership has not changed as of December 31, 1993. Except for the 1,500,707
shares which are owned by the Partnership, CIGNA has no information regarding
Morgan Stanley's beneficial ownership of shares of Common Stock.
*As owner of units of the Wells Fargo Institutional Trust Company Extended
Equity Market Fund. CIGNA disclaims beneficial ownership of these shares.
Page 6 of 6 Pages
