SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTIONS 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): August 27, 1997
TRANS LEASING INTERNATIONAL, INC.
(Exact name of registrant as specified in charter)
Delaware 0-15167 36-2747735
(State or Other Jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
3000 Dundee Road
Northbrook Illinois 60062
(Address of principal executive offices) (Zip Code)
Registrant's Telephone number, including area code (847) 272-1000
____________________________________________________________
(Former Name or Former Address, if Changed Since Last Report
<PAGE>
Item 5. Other Events.
On August 27, 1997, Trans Leasing International, Inc. issued the press
release attached to this current report as Exhibit 99.1.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
Exhibit No. Description
99.1 Press Release of Trans Leasing International, Inc. dated
August 27, 1997
____________________________________________________________________News Release
FOR IMMEDIATE RELEASE
TRANS LEASING ANNOUNCES ASSET SALE
Northbrook, IL - August 27, 1997
Trans Leasing International, Inc. (NASDAQ NMS Symbol TLII) announced today
that it has entered into an agreement to sell substantially all of its assets to
General Electric Capital Corporation. The sale has been approved by its Board of
Directors and holders of a majority of its stock. It is currently anticipated
that the sale proceeds to the stockholders, net of debt repayment, taxes and
liquidation and other expenses, will be approximately $10 per share and that the
proceeds will be distributed to the stockholders in early 1998 via a liquidating
dividend. Pursuant to the terms of the agreement, no further dividends will be
paid on the Company's common stock pending closing of the sale transaction. It
is anticipated that the Company's common stock will continue to trade on NASDAQ
until the sale proceeds are distributed.
Details will be provided to stockholders in an information statement which
will be mailed after filing withthe Securities and Exchange Commission. The
transaction is subject to expiration of the antitrust pre-merger notification
period and other conditions and, although the Company expects that the
sale will be expeditiously completed, there can be no assurance that it will.
Trans Leasing Chairman Larry Grossman said "We think that GECC is an excellent
fit with out business. We are excited about how a combination with GECC will
allow us to better serve our customersand provide our employees with new
opportunities. The transaction maximizes shareholder value by providing a
premium of about 40% over recent stock prices and nearly three times where the
stock was trading a year ago."
Contact: Larry S. Grossman 1-800-323-1180
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.
TRANS LEASING INTERNATIONAL, INC.
Date: September 10, 1997 By: /s/Stephen J. Hupp
Vice President Finance
