UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)
Sterling Chemicals, Inc.
(Name of Issuer)
Common Stock, $0.01 par value
(Title of Class of Securities)
858903 10 7
(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 disclosure 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 __
______________________________ ________________________________
| | | |
|CUSIP No. 858903 10 7 | 13G | Page 2 of ______ Pages |
|____________________________| |______________________________|
___________________________________________________________________________
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | Morgan Stanley Group Inc. |
| | 13-2838811 |
|____|____________________________________________________________________|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* |
| | _ |
| | (a) |X| |
| | - |
| | _ |
| | (b) |_| |
| | |
|____|____________________________________________________________________|
| 3 | SEC USE ONLY |
| | |
|____|____________________________________________________________________|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | Delaware |
|____|____________________________________________________________________|
| | 5 | SOLE VOTING POWER |
| | | -0- |
| NUMBER OF |____|_______________________________________________|
| SHARES | 6 | SHARED VOTING POWER |
| BENEFICIALLY | | -0- |
| OWNED BY |____|_______________________________________________|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| REPORTING | | 57,700 |
| PERSON |____|_______________________________________________|
| WITH | 8 | SHARED DISPOSITIVE POWER |
| | | -0- |
|____________________|____|_______________________________________________|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | 57,700 |
|____|____________________________________________________________________|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES _ |
| | CERTAIN SHARES* |_| |
|____|____________________________________________________________________|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | <1 |
|____|____________________________________________________________________|
| 12 | TYPE OF REPORTING PERSON* |
| | CO |
|____|____________________________________________________________________|
*SEE INSTRUCTIONS BEFORE FILLING OUT!
______________________________ ________________________________
| | | |
|CUSIP No. 858903 10 7 | 13G | Page 3 of ______ Pages |
|____________________________| |______________________________|
___________________________________________________________________________
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | The Morgan Stanley Leveraged Mezzanine Fund, L.P. |
| | 13-3284523 |
|____|____________________________________________________________________|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* |
| | _ |
| | (a) |X| |
| | - |
| | _ |
| | (b) |_| |
| | |
|____|____________________________________________________________________|
| 3 | SEC USE ONLY |
| | |
|____|____________________________________________________________________|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | Delaware |
|____|____________________________________________________________________|
| | 5 | SOLE VOTING POWER |
| | | -0- |
| NUMBER OF |____|_______________________________________________|
| SHARES | 6 | SHARED VOTING POWER |
| BENEFICIALLY | | -0- |
| OWNED BY |____|_______________________________________________|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| REPORTING | | -0- |
| PERSON |____|_______________________________________________|
| WITH | 8 | SHARED DISPOSITIVE POWER |
| | | -0- |
|____________________|____|_______________________________________________|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | -0- |
|____|____________________________________________________________________|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES _ |
| | CERTAIN SHARES* |_| |
|____|____________________________________________________________________|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | -0- |
| | |
|____|____________________________________________________________________|
| 12 | TYPE OF REPORTING PERSON* |
| | PN |
|____|____________________________________________________________________|
*SEE INSTRUCTIONS BEFORE FILLING OUT!
______________________________ ________________________________
| | | |
|CUSIP No. 858903 10 7 | 13G | Page 4 of ______ Pages |
|____________________________| |______________________________|
___________________________________________________________________________
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | CIGNA Corporation |
| | 06-1059331 |
|____|____________________________________________________________________|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* |
| | _ |
| | (a) |X| |
| | - |
| | _ |
| | (b) | | |
| | |
|____|____________________________________________________________________|
| 3 | SEC USE ONLY |
| | |
|____|____________________________________________________________________|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | Delaware |
|____|____________________________________________________________________|
| | 5 | SOLE VOTING POWER |
| | | -0- |
| NUMBER OF |____|_______________________________________________|
| SHARES | 6 | SHARED VOTING POWER |
| BENEFICIALLY | | -0- |
| OWNED BY |____|_______________________________________________|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| REPORTING | | -0- |
| PERSON |____|_______________________________________________|
| WITH | 8 | SHARED DISPOSITIVE POWER |
| | | -0- |
|____________________|____|_______________________________________________|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | -0- |
|____|____________________________________________________________________|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES _ |
| | CERTAIN SHARES* |_| |
|____|____________________________________________________________________|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | -0- |
| | |
|____|____________________________________________________________________|
| 12 | TYPE OF REPORTING PERSON* |
| | HC |
|____|____________________________________________________________________|
*SEE INSTRUCTIONS BEFORE FILLING OUT!
______________________________ ________________________________
| | | |
|CUSIP No. 858903 10 7 | 13G | Page 5 of ______ Pages |
|____________________________| |______________________________|
___________________________________________________________________________
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | Connecticut General Life Insurance Company |
| | 06-0303370 |
|____|____________________________________________________________________|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* |
| | _ |
| | (a) |X| |
| | - |
| | _ |
| | (b) |_| |
| | |
|____|____________________________________________________________________|
| 3 | SEC USE ONLY |
| | |
|____|____________________________________________________________________|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | Connecticut |
|____|____________________________________________________________________|
| | 5 | SOLE VOTING POWER |
| | | -0- |
| NUMBER OF |____|_______________________________________________|
| SHARES | 6 | SHARED VOTING POWER |
| BENEFICIALLY | | -0- |
| OWNED BY |____|_______________________________________________|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| REPORTING | | -0- |
| PERSON |____|_______________________________________________|
| WITH | 8 | SHARED DISPOSITIVE POWER |
| | | -0- |
|____________________|____|_______________________________________________|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | -0- |
|____|____________________________________________________________________|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES _ |
| | CERTAIN SHARES* |_| |
|____|____________________________________________________________________|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | -0- |
| | |
|____|____________________________________________________________________|
| 12 | TYPE OF REPORTING PERSON* |
| | IC |
|____|____________________________________________________________________|
*SEE INSTRUCTIONS BEFORE FILLING OUT!
______________________________ ________________________________
| | | |
|CUSIP No. 858903 10 7 | 13G | Page 6 of ______ Pages |
|____________________________| |______________________________|
___________________________________________________________________________
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | CIGNA Property and Casualty Insurance Company |
| | 06-0237820 |
|____|____________________________________________________________________|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* |
| | _ |
| | (a) |X| |
| | - |
| | _ |
| | (b) |_| |
| | |
|____|____________________________________________________________________|
| 3 | SEC USE ONLY |
| | |
|____|____________________________________________________________________|
| 4 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | Connecticut |
|____|____________________________________________________________________|
| | 5 | SOLE VOTING POWER |
| | | -0- |
| NUMBER OF |____|_______________________________________________|
| SHARES | 6 | SHARED VOTING POWER |
| BENEFICIALLY | | -0- |
| OWNED BY |____|_______________________________________________|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| REPORTING | | -0- |
| PERSON |____|_______________________________________________|
| WITH | 8 | SHARED DISPOSITIVE POWER |
| | | -0- |
|____________________|____|_______________________________________________|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | -0- |
|____|____________________________________________________________________|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES _ |
| | CERTAIN SHARES* |_| |
|____|____________________________________________________________________|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | -0- |
| | |
|____|____________________________________________________________________|
| 12 | TYPE OF REPORTING PERSON* |
| | IC |
|____|____________________________________________________________________|
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Item 1(a). Name of Issuer.
Sterling Chemicals, Inc. (the "Company")
Item 1(b). Address of Issuer's Principal Executive Offices.
1200 Smith Street
Suite 1900
Houston, TX 77042-4312
Item 2(a). Name of Person Filing.
CIGNA Corporation ("CIGNA")
Connecticut General Life Insurance Company
("Connecticut General")
CIGNA Property and Casualty Insurance Company
("CIGNA Property")
Morgan Stanley Group Inc. ("Morgan Stanley")
The Morgan Stanley Leveraged Mezzanine Fund, L.P.
(the "Fund")
In accordance with Rule 13d-1(f)(1) under the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), each person filing this
statement acknowledges that it is responsible for the completeness and
accuracy of the information concerning that person but is not responsible for
the completeness or accuracy of the information concerning the other persons
making the filing, unless such person knows or has reason to believe that such
information is inaccurate.
Item 2(b). Address of Principal Business Office or, if None, Residence.
The address of the principal business and principal office of
each of Morgan Stanley and the Fund is 1251 Avenue of the Americas, New York,
New York 10020.
The address of CIGNA is One Liberty Place, Philadelphia,
Pennsylvania 19192. The address of Connecticut General is 900 Cottage Grove
Road, Bloomfield, Connecticut 06002. The address of CIGNA Property is Two
Liberty Place, Philadelphia, PA 19192.
Item 2(c). Citizenship.
Each of the persons filing this statement is a corporation or
limited partnership organized under the laws of a state of the United States.
Item 2(d). Title of Class of Securities.
This statement relates to the Company's Common Stock, $.01 par
value per share.
Item 2(e). CUSIP Number.
858903 10 7
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b),
check whether the person filing is a:
_
(a) |_| Broker or dealer registered under Section 15 of the
Act,
_
(b) |_| Bank as defined in Section 3(a)(6) of the Act,
_
(c) |_| Insurance Company as defined in Section 3(a)(19) of
the Act,
_
(d) |_| Investment Company registered under Section 8 of
the Investment Company Act,
_
(e) |_| Investment Advisor registered under Section 203 of
the Investment Advisers Act of 1940,
_
(f) |_| Employee Benefit Plan, Pension Fund which is
subject to the provisions of the Employee
Retirement Income Security Act of 1974 or Endowment
Fund; see Section 240.13d-1(b)(1)(ii)(F),
_
(g) |_| Parent Holding Company, in accordance with Section
240.13d-1(b)(1)(ii)(G) (Note: See Item 7),
_
(h) |_| Group, in accordance with Section
240.13d-1(b)(1)(ii)(H).
Not applicable.
Item 4. Ownership.
(a) Amount Beneficially Owned:
No shares of Common Stock are beneficially owned by the group.
Morgan Stanley holds 57,700 shares of Common Stock for clients over which
it exercises investment discretion. Such shares represent less than 1% of
the outstanding Common Stock based on the 55,673,991 shares of Common Stock
reported to be outstanding in the Company's report on Form 10-K filed for
the fiscal year ended September 30, 1994.
(b) Percent of Class -0-
(c) Deemed Voting Power and Disposition Power
<TABLE> Deemed to have Deemed to have
Deemed to have Deemed to have sole power to shared power to
sole power to shared power to dispose or to dispose or to
vote or to direct vote or to direct direct the direct the
the vote the vote disposition disposition
----------------- ----------------- --------------- ----------------
<S> <C> <C> <C> <C>
Morgan Stanley Group Inc. -0- -0- 57,700 -0-
The Morgan Stanley Leveraged Mezzanine -0- -0- -0- -0-
Fund, L.P.
Connecticut General -0- -0- -0- -0-
CIGNA Corporation -0- -0- -0- -0-
CIGNA Property -0- -0- -0- -0-
</TABLE>
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following |X|.
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.
See Exhibit A.
Item 8. Identification and Classification of Members of the Group.
See Exhibit B.
Item 9. Notice of Dissolution of Group.
All shares of Common Stock owned by the group were sold during
1994, resulting in the termination of the group. All further
filings with respect to transactions in or ownership of the
Company's Common Stock will be filed, if required, by members
of the group in their individual capacities.
Item 10. Certification.
Not applicable.
SIGNATURES
After reasonable inquiry and to the best knowledge and belief
of the undersigned, the undersigned certifies that the information set forth
in this statement is true, complete and correct.
Date: February 14, 1995
MORGAN STANLEY GROUP INC.
/s/ PETER R. VOGELSANG
By:____________________________
Name: Peter R. Vogelsang
Title: Authorized Secretary
THE MORGAN STANLEY LEVERAGED
MEZZANINE FUND, L.P.
By Morgan Stanley Leveraged
Capital Fund, Inc., as
general partner
/s/ PETER R. VOGELSANG
By:____________________________
Name: Peter R. Vogelsang
Title: Secretary
CIGNA CORPORATION
/s/ DAVID C. KOPP
By:____________________________
Name: David C. Kopp
Title: Assistant Corporate
Secretary
CONNECTICUT GENERAL LIFE
INSURANCE COMPANY
/s/ DAVID C. KOPP
By:____________________________
Name: David C. Kopp
Title: Assistant Corporate
Secretary
CIGNA PROPERTY AND CASUALTY
INSURANCE COMPANY
/s/ DAVID C. KOPP
By:____________________________
Name: David C. Kopp
Title: Assistant Corporate
Secretary
Attention: Intentional misstatements or omissions of fact constitute Federal
Criminal violations (see 18 U.S.C. 10001).
Index of Exhibits
-----------------
Page
----
Exhibit 99.A Identification of Parent Holding Companies
Pursuant to Item 7
Exhibit 99.B Identification of Members of the Group
Pursuant to Item 8
Exhibit 99.C Secretary's Certificate
Exhibit A
Identification of Parent Holding Companies
Pursuant to Item 7
CIGNA is the parent holding company of Connecticut General and
CIGNA Property.
Morgan Stanley Leveraged Capital Fund, Inc., an indirect wholly
owned subsidiary of Morgan Stanley Group, and CIGNA Funding Limited
Partnership ("Funding") are general partners of the Fund. CIGNA Leveraged
Capital Fund, Inc., an indirect wholly owned subsidiary of CIGNA, is the sole
general partner of Funding.
Exhibit B
Identification of Members of the Group
Pursuant to Item 8
CIGNA Corporation
Connecticut General Life Insurance Company
CIGNA Property and Casualty Insurance Company
Morgan Stanley Group Inc.
Morgan Stanley Leveraged Mezzanine Fund
MORGAN STANLEY
SECRETARY'S CERTIFICATE
-----------------------
I, Charlene, R. Herzer, a duly elected and acting Assistant
Secretary of Morgan Stanley Group Inc., a corporation organized and
existing under the laws of the State of Delaware (the "Corporation"),
certify that the following resolutions were duly and validly adopted by a
Consent in Lieu of a Meeting of the Executive Committee of the Board of
Directors of the Corporation dated as of March 28, 1994 and that such
resolutions are in full force and effect on the date hereof.
RESOLVED, that Peter R. Vogelsang is authorized and directed to
sign on behalf of the Corporation any forms, reports, schedules or
filings required to be filed by the Corporation with any government or
regulatory agency in connection with the making, holding or disposing
of any investments managed by the Merchant Banking Division of the
Corporation, such authorization to cease automatically upon
termination of his employment with Morgan Stanley & Co. Incorporated;
and
RESOLVED FURTHER, that any actions heretofore taken by Peter R.
Vogelsang in connection with the responsibilities noted in the preceding
resolution are confirmed, approved and ratified.
RESOLVED, that any and all actions to be taken, caused to be
taken or heretofore taken by any officer of the Corporation in
executing any and all documents, agreements and instruments and in
taking any and all steps (including the payment of all expenses)
deemed by such officer as necessary or desirable to carry out the
intents and purposes of the foregoing resolutions are authorized,
ratified and confirmed.
IN WITNESS WHEREOF, I have hereunto set my name and affixed the
seal of the Corporation as of the 10th day of February, 1995.
/s/ CHARLENE R. HERZER
-------------------------
Charlene R. Herzer
Assistant Secretary
[SEAL]
