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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 5)
UNION TEXAS PETROLEUM HOLDINGS, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $.05 PER SHARE
(Title of Class of Securities)
908640-10-5
(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: (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).
Page 1 of 6 pages.
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CUSIP NO. 908640-10-5 SCHEDULE 13G
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
KKR Associates
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [_]
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SEC USE ONLY
3
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CITIZENSHIP OR PLACE OF ORGANIZATION
4
New York
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SOLE VOTING POWER
5
NUMBER OF -0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
21,833,334
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING -0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
21,833,334
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
21,833,334
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [_]
10
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
24.9%
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TYPE OF REPORTING PERSON
12
PN
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Page 2 of 6 pages.
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ITEM 1.
(A) NAME OF ISSUER:
Union Texas Petroleum Holdings, Inc.
(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
1330 Post Oak Boulevard
Houston, Texas 77056
ITEM 2.
(A) NAME OF PERSON FILING:
KKR Associates
(B) ADDRESS OF PRINCIPAL BUSINESS OFFICE:
9 West 57th Street
New York, New York 10019
(C) CITIZENSHIP:
New York
(D) TITLE OF CLASS OF SECURITIES:
Common Stock, par value $.05 per share
(E) CUSIP NUMBER:
908640-10-5
ITEM 3. Not applicable.
ITEM 4. OWNERSHIP
(A) AMOUNT BENEFICIALLY OWNED:
KKR Associates, a New York limited partnership, is the sole
general partner of Petroleum Associates, L.P., a Delaware limited
partnership, and KKR Partners II, L.P., a Delaware limited
partnership, in which capacity it may be deemed to be the
beneficial owner of the shares of Union Texas Petroleum Holdings,
Inc. common stock beneficially owned by Petroleum Associates,
L.P. and KKR Partners II, L.P. Petroleum Associates, L.P. is the
record owner of 21,646,004 shares of common stock of Union Texas
Petroleum Holdings, Inc. KKR Partners II, L.P. is the record
owner of 187,330 shares of common stock of Union Texas Petroleum
Holdings, Inc. Henry R. Kravis, George R. Roberts, Paul E.
Page 3 of 6 pages.
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Raether, Robert I. MacDonnell, Michael W. Michelson, Saul A. Fox,
James H. Greene, Jr., Michael T. Tokarz, Edward A. Gilhuly, Perry
Golkin, Clifton S. Robbins and Scott Stuart are the general
partners of KKR Associates, and in such capacity may be deemed to
share beneficial ownership of any shares beneficially owned by
KKR Associates, but disclaim any such beneficial ownership.
(B) PERCENT OF CLASS:
24.9%
(C) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(i) Sole power to vote or direct the vote:
-0-
(ii) Shared power to vote or to direct the vote:
21,833,334
(iii) Sole power to dispose or to direct the disposition of:
-0-
(iv) Shared power to dispose or to direct the disposition of:
21,833,334
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
Not applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
Not applicable.
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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ITEM 10. CERTIFICATION
Not applicable.
Page 5 of 6 pages.
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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 8, 1996
KKR ASSOCIATES
By: /s/ Michael W. Michelson
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Name: Michael W. Michelson
Title: General Partner
Page 6 of 6 pages.
