UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 9)*
City Investing Company Liquidating Trust (CNVLZ)
(Name of Issuer)
Trust Units of Beneficial
Interest
(Title of Class of Securities)
CUSIP No. 177900107
(CUSIP Number)
Thomas F. Steyer
Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California
94111
(415)421-2132
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 29, 1997
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are
to be sent.
* 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
disclosures provided in a prior cover page.
The information required on 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 that Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 42 Pages
Exhibit Index Found on Page 41
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 177900107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Capital Partners, L.P.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
WC, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
California
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 2,903,878
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
2,903,878
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
2,903,878
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
7.4 %
- ---------======================================================================
14 Type of Reporting Person*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 42 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 177900107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Capital Institutional Partners, L.P.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
WC
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
California
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 2,115,752
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
2,115,752
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
2,115,752
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
5.4 %
- ---------======================================================================
14 Type of Reporting Person*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 42 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 177900107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Capital Institutional Partners II, L.P.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
WC
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
California
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 1,691,272
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
1,691,272
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,691,272
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
4.3 %
- ---------======================================================================
14 Type of Reporting Person*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 42 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 177900107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Capital Institutional Partners III, L.P.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
WC
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
Delaware
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 210,500
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
210,500
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
210,500
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.5 %
- ---------======================================================================
14 Type of Reporting Person*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 42 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 177900107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Tinicum Partners, L.P.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
WC, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
New York
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 1,026,161
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
1,026,161
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,026,161
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
2.6 %
- ---------======================================================================
14 Type of Reporting Person*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 42 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 177900107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Capital Management, L.L.C.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
Delaware
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 1,049,785
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
1,049,785
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
1,049,785
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
2.7 %
- ---------======================================================================
14 Type of Reporting Person*
IA, 00
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 42 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 177900107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Partners, L.L.C.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
Delaware
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 7,947,563
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
7,947,563
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
7,947,563
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
20.4 %
- ---------======================================================================
14 Type of Reporting Person*
00
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 8 of 42 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 177900107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Enrique H. Boilini
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
Argentina
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 8,997,348
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
8,997,348
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
8,997,348
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
23.1 %
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 42 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 177900107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
David I. Cohen
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
South Africa
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 8,997,348
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
8,997,348
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
8,997,348
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
23.1 %
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 10 of 42 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 177900107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Joseph F. Downes
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
United States
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 8,997,348
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
8,997,348
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
8,997,348
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
23.1 %
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 11 of 42 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 177900107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Fleur E. Fairman
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
United States
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 7,947,563
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
7,947,563
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
7,947,563
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
20.4 %
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 12 of 42 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 177900107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Jason M. Fish
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
United States
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 8,997,348
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
8,997,348
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
8,997,348
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
23.1 %
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 13 of 42 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 177900107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Andrew B. Fremder
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
United States
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 8,997,348
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
8,997,348
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
8,997,348
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
23.1 %
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 14 of 42 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 177900107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
William F. Mellin
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
United States
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 8,997,348
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
8,997,348
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
8,997,348
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
23.1 %
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 15 of 42 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 177900107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Stephen L. Millham
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
United States
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 8,997,348
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
8,997,348
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
8,997,348
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
23.1 %
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 16 of 42 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 177900107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Meridee A. Moore
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
United States
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 8,997,348
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
8,997,348
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
8,997,348
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
23.1 %
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 17 of 42 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 177900107
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Thomas F. Steyer
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 00
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
United States
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially 8,997,348
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
8,997,348
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
8,997,348
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
23.1 %
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 18 of 42 Pages
<PAGE>
This Amendment No. 9 to Schedule 13D amends the Schedule 13D initially
filed on February 19, 1991 (collectively, with all amendments thereto, the
"Schedule 13D") as follows:
Item 1. Security and Issuer.
Item 1 as reported on the Schedule 13D is hereby amended and restated in
its entirety as follows:
This statement relates to Trust Units of Beneficial Interest (the "Units")
of City Investing Company Liquidating Trust (the "Company"). The Company's
principal offices are located at 99 University Place, 9th Floor, New York, New
York 10003-4528.
Item 2. Identity and Background.
Item 2 as reported on the Schedule 13D is hereby amended and restated in
its entirety as follows:
(a) This statement is filed by: (i) Farallon Capital Partners, L.P., a
California limited partnership ("FCP"), with respect to the Units held by it;
(ii) Farallon Capital Institutional Partners, L.P., a California limited
partnership ("FCIP"), with respect to the Units held by it; (iii) Farallon
Capital Institutional Partners II, L.P., a California limited partnership ("FCIP
II"), with respect to the Units held by it; (iv) Farallon Capital Institutional
Partners III, L.P., a Delaware limited partnership ("FCIP III"), with respect to
the Units held by it; (v) Tinicum Partners, L.P., a New York limited partnership
("Tinicum", collectively with FCP, FCIP, FCIP II and FCIP III, the
"Partnerships"), with respect to the Units held by it; (vi) Farallon Capital
Management, L.L.C., a Delaware limited liability company ("FCMLLC"), with
respect to the Units held by Farallon Capital Offshore Investors, Inc., a
British Virgin Islands corporation ("Offshore"), and
Page 19 of 42 Pages
<PAGE>
certain other accounts managed by FCMLLC (together with Offshore, the "Managed
Accounts"1); (vii) Farallon Partners, L.L.C., a Delaware limited liability
company ("FPLLC"), with respect to the Units held by each of the Partnerships;
(viii) each of Enrique H. Boilini ("Boilini"), David I. Cohen ("Cohen"), Joseph
F. Downes ("Downes"), Jason M. Fish ("Fish"), Andrew B. Fremder ("Fremder"),
William F. Mellin ("Mellin"), Stephen L. Millham ("Millham"), Meridee A. Moore
("Moore") and Thomas F. Steyer ("Steyer"), with respect to the Units held by
each of the Partnerships and the Managed Accounts; and (ix) Fleur E. Fairman
("Fairman") with respect to the Units held by each of the Partnerships (FCP,
FCIP, FCIP II, FCIP III, Tinicum, FCMLLC, FPLLC, Boilini, Cohen, Downes,
Fairman, Fish, Fremder, Mellin, Millham, Moore and Steyer shall collectively be
referred to hereafter as the "Reporting Persons").
The name, address, principal business, citizenship or state of
organization, executive officers, directors and controlling persons of FCMLLC
and FPLLC are set forth on Annex 1 hereto. The Units reported hereby for the
Partnerships are owned directly by the Partnerships and those reported by FCMLLC
on behalf of the Managed Accounts are owned directly by the Managed Accounts.
Each of Boilini, Cohen, Downes, Fish, Fremder, Mellin, Millham, Moore and Steyer
may be deemed, as managing members of FPLLC and FCMLLC, to be the beneficial
owner of all such Units. Each of FPLLC and Fairman, as a managing member of
FPLLC, may be deemed to be the beneficial owner of all such Units owned by the
Partnerships. FCMLLC may be deemed to be the beneficial owner of all such Units
owned by the Managed Accounts. Each of FCMLLC, FPLLC, Boilini, Cohen, Downes,
Fairman, Fish,
- --------
1 Of the Units reported by FCMLLC on behalf of the Managed Accounts, 798,400
Units (equal to 2.0% of the total Units currently outstanding) are held by
The Absolute Return Fund of The Common Fund, a non-profit corporation whose
principal address is 450 Post Road East, Westport, Connecticut, 06881.
Page 20 of 42 Pages
<PAGE>
Fremder, Mellin, Millham, Moore and Steyer hereby disclaim any beneficial
ownership of any such Units.
(b) The address of the principal business and principal office of (i) the
Partnerships, FCMLLC and FPLLC is One Maritime Plaza, Suite 1325, San Francisco,
California 94111, and (ii) Offshore is Craigmuir Chambers, P.O. Box 71, Road
Town, Tortola, British Virgin Islands.
(c) The principal business of each of the Partnerships and Offshore is that
of a private investment fund engaging in the purchase and sale of investments
for its own account. The principal business of FPLLC is to act as the general
partner (the "General Partner") of the Partnerships. The principal business of
FCMLLC is that of a registered investment adviser.
(d) None of the Partnerships, FCMLLC, FPLLC, Offshore or any of the persons
listed on Annex 1 hereto has, during the last five years, been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) None of the Partnerships, FCMLLC, FPLLC, Offshore or any of the persons
listed on Annex 1 hereto has, during the last five years, been party to a civil
proceeding of a judicial or administrative body of competent jurisdiction and,
as a result of such proceeding, was, or is subject to, a judgment, decree or
final order enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws or finding any violation
with respect to such laws.
Item 3. Source and Amount of Funds and Other Consideration.
Item 3 as reported on the Schedule 13D is hereby amended and supplemented
by the following:
The net investment cost (including commissions) is $67,860 for the 117,000
Units acquired by FCP since the filing of the prior Schedule 13D, $62,640 for
the 108,000 Units acquired by FCIP
Page 21 of 42 Pages
<PAGE>
since the filing of the prior Schedule 13D, $10,440 for the 18,000 Units
acquired by FCIP II since the filing of the prior Schedule 13D, $15,660 for the
27,000 Units acquired by FCIP III since the filing of the prior Schedule 13D,
$10,440 for the 18,000 Units acquired by Tinicum since the filing of the prior
Schedule 13D and $93,960 for the 162,000 Units acquired by the Managed Accounts
since the filing of the prior Schedule 13D.
The consideration for such acquisitions was obtained as follows: (i) with
respect to FCIP, FCIP II and FCIP III, from working capital; (ii) with respect
to the Managed Accounts, from the working capital of each Managed Account and/or
from borrowings pursuant to margin accounts maintained by some of the Managed
Accounts at Goldman Sachs & Co.; and (iii) with respect to FCP and Tinicum, from
working capital and/or from borrowings pursuant to margin accounts maintained by
FCP and Tinicum at Goldman Sachs & Co. FCP, Tinicum and some of the Managed
Accounts hold certain securities in their respective margin accounts at Goldman
Sachs & Co., and the accounts may from time to time have debit balances. It is
not possible to determine the amount of borrowings, if any, used to acquire the
Units.
Item 4. Purpose of the Transaction.
Item 4 as reported on the Schedule 13D is hereby amended and restated in
its entirety as follows:
None of the Reporting Persons has any plans or proposals which relate to,
or could result in, any of the matters referred to in paragraphs (a) through
(j), inclusive, of the instructions to Item 4 of Schedule 13D.
Page 22 of 42 Pages
<PAGE>
Item 5. Interest in Securities of the Issuer.
Item 5 as reported on the Schedule 13D is hereby amended and restated in
its entirety as follows:
A. Farallon Capital Partners, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for FCP is incorporated herein by reference.
The percentage amount set forth in Row 13 of such cover page and
of each other cover page filed herewith and of Footnote 1 hereto
is calculated based upon the 38,979,372 Units outstanding as of
September 30, 1997 as reported by the Company in its Form 10Q for
the period ended September 30, 1997.
(c) The trade dates, number of Units purchased or sold and the price per
Unit for all purchases and sales of the Units in the past 60 days are
set forth on Schedule A hereto and are incorporated herein by
reference. All of such transactions were open-market transactions.
(d) FPLLC as General Partner has the power to direct the affairs of FCP,
including the disposition of the proceeds of the sale of the Units.
Steyer is the senior managing member of FPLLC, and Boilini, Cohen,
Downes, Fairman, Fish, Fremder, Mellin, Millham and Moore are managing
members of FPLLC.
(e) Not applicable.
B. Farallon Capital Institutional Partners, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for FCIP is incorporated herein by reference.
(c) The trade dates, number of Units purchased or sold and the price per
Unit for all purchases and sales of the Units in the past 60 days are
set forth on Schedule B hereto and are incorporated herein by
reference. All of such transactions were open-market transactions.
(d) FPLLC as General Partner has the power to direct the affairs of FCIP,
including the disposition of the proceeds of the sale of the Units.
Steyer is the senior managing member of FPLLC and Boilini, Cohen,
Downes, Fairman, Fish, Fremder, Mellin, Millham and Moore are managing
members of FPLLC.
Page 23 of 42 Pages
<PAGE>
(e) Not applicable.
C. Farallon Capital Institutional Partners II, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for FCIP II is incorporated herein by
reference.
(c) The trade dates, number of Units purchased or sold and the price per
Unit for all purchases and sales of the Units in the past 60 days are
set forth on Schedule C hereto and are incorporated herein by
reference. All of such transactions were open-market transactions.
(d) FPLLC as General Partner has the power to direct the affairs of FCIP
II, including the disposition of the proceeds of the sale of the
Units. Steyer is the senior managing member of FPLLC and Boilini,
Cohen, Downes, Fairman, Fish, Fremder, Mellin, Millham and Moore are
managing members of FPLLC.
(e) Not applicable.
D. Farallon Capital Institutional Partners III, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for FCIP III is incorporated herein by
reference.
(c) The trade dates, number of Units purchased or sold and the price per
Unit for all purchases and sales of the Units in the past 60 days are
set forth on Schedule D hereto and are incorporated herein by
reference. All of such transactions were open-market transactions.
(d) FPLLC as General Partner has the power to direct the affairs of FCIP
III, including the disposition of the proceeds of the sale of the
Units. Steyer is the senior managing member of FPLLC and Boilini,
Cohen, Downes, Fairman, Fish, Fremder, Mellin, Millham and Moore are
managing members of FPLLC.
(e) Not applicable.
E. Tinicum Partners, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Tinicum is incorporated herein by
reference.
Page 24 of 42 Pages
<PAGE>
(c) The trade dates, number of Units purchased or sold and the price per
Unit for all purchases and sales of the Units in the past 60 days are
set forth on Schedule E hereto and are incorporated herein by
reference. All of such transactions were open-market transactions.
(d) FPLLC as General Partner has the power to direct the affairs of
Tinicum, including the disposition of the proceeds of the sale of the
Units. Steyer is the senior managing member of FPLLC and Boilini,
Cohen, Downes, Fairman, Fish, Fremder, Mellin, Millham and Moore are
managing members of FPLLC.
(e) Not applicable.
F. Farallon Capital Management, L.L.C.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for FCMLLC is incorporated herein by reference.
(c) The trade dates, number of Units purchased or sold and the price per
Unit for all purchases and sales of the Units by the Managed Accounts
in the past 60 days are set forth on Schedule F hereto and are
incorporated herein by reference. All of such transactions were
open-market transactions.
(d) FCMLLC, as an investment adviser, has the power to direct the
disposition of the proceeds of the sale of the Units held by the
Managed Accounts. Steyer is the senior managing member of FCMLLC and
Boilini, Cohen, Downes, Fish, Fremder, Mellin, Millham and Moore are
managing members of FCMLLC.
(e) Not applicable.
G. Farallon Partners, L.L.C.
(a), (b) The information set forth in rows 7, 8, 9, 10, 11, and 13 of the
cover page hereto for FPLLC is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units. Steyer is the senior managing member of FPLLC and Boilini,
Cohen, Downes, Fairman, Fish, Fremder, Mellin, Millham and Moore are
managing members of FPLLC.
(e) Not applicable.
Page 25 of 42 Pages
<PAGE>
H. Enrique H. Boilini
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Boilini is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Units held by the
Managed Accounts. Boilini is a managing member of FCMLLC and FPLLC.
(e) Not applicable.
I. David I. Cohen
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Cohen is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Units held by the
Managed Accounts. Cohen is a managing member of FCMLLC and FPLLC.
(e) Not applicable.
J. Joseph F. Downes
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Downes is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Units held by the
Managed Accounts. Downes is a managing member of FCMLLC and FPLLC.
(e) Not applicable.
Page 26 of 42 Pages
<PAGE>
K. Fleur E. Fairman
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Fairman is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units. Fairman is a managing member of FPLLC.
(e) Not applicable.
L. Jason M. Fish
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Fish is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Units held by the
Managed Accounts. Fish is a managing member of FCMLLC and FPLLC.
(e) Not applicable.
M. Andrew B. Fremder
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Fremder is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Units held by the
Managed Accounts. Fremder is a managing member of FCMLLC and FPLLC.
(e) Not applicable.
N. William F. Mellin
Page 27 of 42 Pages
<PAGE>
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Mellin is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Units held by the
Managed Accounts. Mellin is a managing member of FCMLLC and FPLLC.
(e) Not applicable.
O. Stephen L. Millham
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Millham is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Units held by the
Managed Accounts. Millham is a managing member of FCMLLC and FPLLC.
(e) Not applicable.
P. Meridee A. Moore
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Moore is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Units held by the
Managed Accounts. Moore is a managing member of FCMLLC and FPLLC.
(e) Not applicable.
Page 28 of 42 Pages
<PAGE>
Q. Thomas F. Steyer
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Steyer is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Units. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Units held by the
Managed Accounts. Steyer is the senior managing member of FCMLLC and
FPLLC.
(e) Not applicable.
The Units reported hereby for the Partnerships are owned directly by the
Partnerships and those reported by FCMLLC on behalf of the Managed Accounts are
owned directly by the Managed Accounts. Each of Boilini, Cohen, Downes, Fish,
Fremder, Mellin, Millham, Moore and Steyer may be deemed, as managing members of
FPLLC and FCMLLC, to be the beneficial owner of all such Units. Each of FPLLC
and Fairman, as a managing member of FPLLC, may be deemed to be the beneficial
owner of all such Units owned by the Partnerships. FCMLLC may be deemed to be
the beneficial owner of all such Units owned by the Managed Accounts. Each of
FCMLLC, FPLLC, Boilini, Cohen, Downes, Fairman, Fish, Fremder, Mellin, Millham,
Moore and Steyer hereby disclaim any beneficial ownership of any such Units.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer.
Item 6 as reported on the Schedule 13D is hereby amended and restated in
its entirety as follows:
Except as described above, there are no contracts, arrangements,
understandings or relationships (legal or otherwise) among the Reporting Persons
or between such persons and any other person with respect to any securities of
the Company, including but not limited to transfer or voting of any securities
of the Company, finder's fees, joint ventures, loan or option arrangements, puts
or calls, guarantees of profits, divisions of profits or loss, or the giving or
withholding of proxies.
Page 29 of 42 Pages
<PAGE>
Item 7. Materials to be Filed as Exhibits.
There is filed herewith as Exhibit 1 a written agreement relating to the
filing of joint acquisition statements as required by Rule 13d-1(f)(1) under the
Securities Exchange Act of 1934, as amended.
Page 30 of 42 Pages
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: January 8, 1998
/s/ Thomas F. Steyer
FARALLON PARTNERS, L.L.C., on its own behalf and as
General Partner of FARALLON CAPITAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P. and
TINICUM PARTNERS, L.P.
By Thomas F. Steyer,
Senior Managing Member
/s/ Thomas F. Steyer
FARALLON CAPITAL MANAGEMENT, L.L.C.
By Thomas F. Steyer,
Senior Managing Member
/s/ Thomas F. Steyer
Thomas F. Steyer, individually and as
attorney-in-fact for each of Enrique H. Boilini,
David I. Cohen, Joseph F. Downes, Fleur E. Fairman,
Jason M. Fish, Andrew B. Fremder, William F. Mellin,
Stephen L. Millham, and Meridee A. Moore.
The Powers of Attorney each executed by Boilini, Cohen, Downes, Fairman,
Fish, Fremder, Mellin, Millham and Moore authorizing Steyer to sign and file
this Schedule 13D on each person's behalf was filed with Amendment No. 1 to the
Schedule 13D filed with the SEC on September 26, 1997 by such Reporting Persons
with respect to the Common Stock of Sphere Drake Holdings Limited are hereby
incorporated by reference.
Page 31 of 42 Pages
<PAGE>
ANNEX 1
Set forth below with respect to FCMLLC and FPLLC is the following: (a)
name; (b) address; (c) principal business; (d) state of organization; and (e)
controlling persons. Set forth below with respect to each managing member of
FCMLLC and FPLLC is the following: (a) name; (b) business address; (c) principal
occupation; and (d) citizenship.
1. (a) Farallon Capital Management, L.L.C.
(b) One Maritime Plaza, Suite 1325
San Francisco, CA 94111
(c) Serves as investment adviser to various managed accounts
(d) Delaware limited liability company
(e) Managing Members: Thomas F. Steyer, Senior Managing
Member; Enrique H. Boilini, David I. Cohen, Joseph F.
Downes, Jason M. Fish, Andrew B. Fremder, William F.
Mellin, Stephen L. Millham and Meridee A. Moore, Managing
Members.
2. (a) Farallon Partners, L.L.C.
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, CA 94111
(c) Serves as general partner to investment partnerships
(d) Delaware limited liability company
(e) Managing Members: Thomas F. Steyer, Senior Managing
Member; Enrique H. Boilini, David I. Cohen, Joseph F.
Downes, Fleur E. Fairman, Jason M. Fish, Andrew B.
Fremder, William F. Mellin, Stephen L. Millham and
Meridee A. Moore, Managing Members.
3. (a) Enrique H. Boilini
(b) c/o Farallon Capital Management, L.L.C.
75 Holly Hill Lane
Greenwich, CT 06830
(c) Managing Member of Farallon Partners, L.L.C.; Managing
Member of Farallon Capital Management, L.L.C.
(d) Argentinean Citizen
4. (a) David I. Cohen
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, CA 94111
(c) Managing Member of Farallon Partners, L.L.C.; Managing
Member of Farallon Capital Management, L.L.C.
(d) South African Citizen
Page 32 of 42 Pages
<PAGE>
5. (a) Joseph F. Downes
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, CA 94111
(c) Managing ember of Farallon Partners, L.L.C.; Managing
Member of Farallon Capital Management, L.L.C.
(d) United States Citizen
6. (a) Fleur E. Fairman
(b) 993 Park Avenue
New York, New York 10028
(c) Managing Member of Farallon Partners, L.L.C.
(d) United States Citizen
7. (a) Jason M. Fish
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, CA 94111
(c) Managing Member of Farallon Partners, L.L.C.; Managing
Member of Farallon Capital Management, L.L.C.
(d) United States Citizen
8. (a) Andrew B. Fremder
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, CA 94111
(c) Managing Member of Farallon Partners, L.L.C.; Managing
Member of Farallon Capital Management, L.L.C.
(d) United States Citizen
9. (a) William F. Mellin
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, CA 94111
(c) Managing Member of Farallon Partners, L.L.C.; Managing
Member of Farallon Capital Management, L.L.C.
(d) United States Citizen
10. (a) Stephen L. Millham
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, CA 94111
(c) Managing Member of Farallon Partners, L.L.C.; Managing
Member of Farallon Capital Management, L.L.C.
(d) United States Citizen
Page 33 of 42 Pages
<PAGE>
11. (a) Meridee A. Moore
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, CA 94111
(c) Managing Member of Farallon Partners, L.L.C.; Managing
Member of Farallon Capital Management, L.L.C.
(d) United States Citizen
12. (a) Thomas F. Steyer
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, CA 94111
(c) Senior Managing Member of Farallon Partners, L.L.C.;
Senior Managing Member of Farallon Capital Management,
L.L.C.
(d) United States Citizen
Page 34 of 42 Pages
<PAGE>
SCHEDULE A
FARALLON CAPITAL PARTNERS, L.P.
NO. OF UNITS PRICE
TRADE DATE PURCHASED PER UNIT
(including commission)
12/29/97 117,000 $0.58
Page 35 of 42 Pages
<PAGE>
SCHEDULE B
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.
NO. OF UNITS PRICE
TRADE DATE PURCHASED PER UNIT
(including commission)
12/29/97 108,000 $0.58
Page 36 of 42
<PAGE>
SCHEDULE C
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.
NO. OF UNITS PRICE
TRADE DATE PURCHASED PER UNIT
(including commission)
12/29/97 18,000 $0.58
Page 37 of 42
<PAGE>
SCHEDULE D
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.
NO. OF UNITS PRICE
TRADE DATE PURCHASED PER UNIT
(including commission)
12/29/97 27,000 $0.58
Page 38 of 42 Pages
<PAGE>
SCHEDULE E
TINICUM PARTNERS, L.P.
NO. OF UNITS PRICE
TRADE DATE PURCHASED PER UNIT
(including commission)
12/29/97 18,000 $0.58
Page 39 of 42 Pages
<PAGE>
SCHEDULE F
FARALLON CAPITAL MANAGEMENT, L.L.C.
NO. OF UNITS PRICE
TRADE DATE PURCHASED PER UNIT
(including commission)
12/29/97 117,000 $0.58
12/29/97 9,000 $0.58
12/29/97 36,000 $0.58
Page 40 of 42 Pages
<PAGE>
EXHIBIT INDEX
EXHIBIT 1Joint Aqustion Statement Pursuant to Rule 13D-(f)(1)
Page 41 of 42 Pages
<PAGE>
EXHIBIT 1
to
SCHEDULE 13D
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13D-(f)(1)
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13D is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13D shall be filed on behalf
of each of the undersigned without the necessity of filing additional joint
acquisition statements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning him, her or it contained therein, but
shall not be responsible for the completeness and accuracy of the information
concerning the other entities or persons, except to the extent that he, she or
it knows or has reason to believe that such information is inaccurate.
Dated: January 8, 1998
/s/ Thomas F. Steyer
FARALLON PARTNERS, L.L.C.,
on its own behalf and as General Partner of
FARALLON CAPITAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS,
L.P., FARALLON CAPITAL INSTITUTIONAL
PARTNERS II, L.P., FARALLON CAPITAL
INSTITUTIONAL PARTNERS III, L.P. and
TINICUM PARTNERS, L.P.
By Thomas F. Steyer,
Senior Managing Member
/s/ Thomas F. Steyer
FARALLON CAPITAL MANAGEMENT, L.L.C.
By Thomas F. Steyer,
Senior Managing Member
/s/ Thomas F. Steyer
Thomas F. Steyer, individually and as
attorney-in-fact for each of Enrique H. Boilini,
David I. Cohen, Joseph F. Downes, Fleur E.
Fairman, Jason M. Fish, Andrew B. Fremder,
William F. Mellin, Stephen L. Millham, and
Meridee A. Moore.
Page 42 of 42 Pages
