UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----------------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
THE LESLIE FAY COMPANY, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $.01
(Title of Class of Securities)
527016109
(CUSIP Number)
-----------------------
RICHARD S. BORISOFF, ESQ.
PAUL, WEISS, RIFKIND, WHARTON & GARRISON
1285 AVENUE OF THE AMERICAS
NEW YORK, NY 10019-6064
TEL. NO.: (212) 373-3000
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
-----------------------
JANUARY 12, 2001
(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
statement because of Rule 13d-1(b)(3) or (4), check the following box o.
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 the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
================================================================================
Page 1 of 14 Pages
<PAGE>
SCHEDULE 13D
CUSIP NO. 527016109
------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Three Cities Fund 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
OO - Partner Contributions
--------------------------------------------------------------------------------
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
NUMBER OF -0-
SHARES --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY EACH
REPORTING 1,457,679
PERSON --------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,215,081
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,512,564
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
66.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
Page 2 of 14 Pages
<PAGE>
SCHEDULE 13D
CUSIP NO. 527016109
------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
TCR Associates, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
--------------------------------------------------------------------------------
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
NUMBER OF -0-
SHARES --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY EACH
REPORTING 1,457,679
PERSON --------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,215,081
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,512,564
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
66.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
Page 3 of 14 Pages
<PAGE>
SCHEDULE 13D
CUSIP NO. 527016109
------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Three Cities Research, Inc.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
--------------------------------------------------------------------------------
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
NUMBER OF -0-
SHARES --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY EACH
REPORTING 3,512,564
PERSON --------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,269,966
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,512,564
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
66.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
Page 4 of 14 Pages
<PAGE>
SCHEDULE 13D
CUSIP NO. 527016109
------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Three Cities Offshore II C.V.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO - Partner Contributions
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Netherlands Antilles
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY EACH
REPORTING 2,297,483
PERSON --------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,054,885
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,512,564
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
66.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
Page 5 of 14 Pages
<PAGE>
SCHEDULE 13D
CUSIP NO. 527016109
------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Three Cities Associates, N.V.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Netherlands Antilles
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY EACH
REPORTING 2,297,483
PERSON --------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,054,885
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,512,564
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
66.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
--------------------------------------------------------------------------------
Page 6 of 14 Pages
<PAGE>
SCHEDULE 13D
CUSIP NO. 527016109
------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
J. William Uhrig
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY EACH
REPORTING 2,297,483
PERSON --------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,054,885
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,512,564
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
66.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
Page 7 of 14 Pages
<PAGE>
AMENDMENT NO. 3 TO SCHEDULE 13D
This Amendment No. 3 ("Amendment") supplements the Schedule
13D, filed on May 24, 1999, as amended by Amendment No. 1, filed on August 5,
1999, and Amendment No. 2, filed on August 30, 1999 (as so amended, the
"Schedule 13D"), in the following respects only (capitalized terms used herein
shall have the meanings ascribed to such terms in the Schedule 13D):
ITEM 2. IDENTITY AND BACKGROUND.
Item 2 is amended and restated in its entirety as follows:
(a) - (c) The persons (the "Reporting Persons") filing this
statement are Three Cities Fund II, L.P., a Delaware limited partnership ("Fund
II"), TCR Associates, L.P., a Delaware limited partnership ("TCR Associates"),
Three Cities Research, Inc., a Delaware corporation ("Research"), Three Cities
Offshore II C.V., a Netherlands Antilles limited partnership ("Offshore II"),
Three Cities Associates, N.V., a Netherlands Antilles corporation ("TCA, N.V."),
and J. William Uhrig ("Uhrig"). Fund II and Offshore II are collectively
referred to herein as the "Three Cities Funds."
FUND II
Fund II is a Delaware limited partnership, formed to invest in
securities to be selected by its investment committee. The principal business
address of Fund II, which also serves as its principal office, is c/o Three
Cities Research, Inc., 650 Madison Avenue, New York, New York 10022. The
information about TCR Associates, the sole general partner of Fund II, required
by Instruction C to Schedule 13D is set forth below.
TCR ASSOCIATES
TCR Associates is a Delaware limited partnership, the
principal business of which is serving as the sole general partner of Fund II.
The principal business address of TCR Associates, which also serves as its
principal office, is c/o Three Cities Research, Inc., 650 Madison Avenue, New
York, New York 10022. The information about Research, the sole general partner
of TCR Associates, required by Instruction C to Schedule 13D is set forth below.
RESEARCH
Research is a Delaware corporation which serves as the sole
general partner of TCR Associates. Research is also the advisor to the Three
Cities Funds and, pursuant to a management agreement with the general partner of
each of the Three Cities Funds, Research has voting and dispositive power over
the shares of Common Stock reported as beneficially owned by the Three Cities
Funds on this
Page 8 of 14 Pages
<PAGE>
Schedule 13D. The principal business address of Research is 650 Madison Avenue,
New York, NY 10022. The name, residence or business address, and present
principal occupation or employment of each executive officer and director of
Research is as follows:
<TABLE>
<CAPTION>
RESIDENCE OR PRINCIPAL OCCUPATION
NAME BUSINESS ADDRESS OR EMPLOYMENT
---- ---------------- -------------
<S> <C> <C>
Willem F. P. de Vogel c/o Three Cities Research, Inc. President and a Managing Director of
650 Madison Avenue Three Cities Research, Inc.
New York, NY 10022
Thomas G. Weld c/o Three Cities Research, Inc. Treasurer and a Managing Director of
650 Madison Avenue Three Cities Research, Inc.
New York, NY 10022
</TABLE>
OFFSHORE II
Offshore II is a Netherlands Antilles partnership, formed to
invest in securities to be selected by its investment committee. The principal
business address of Offshore II, which also serves as its principal office, is
Caracasbaaiweg 201, P.O. Box 6085, Curacao, Netherlands Antilles. The
information about TCA, N.V., the sole general partner of Offshore II, required
by Instruction C to Schedule 13D is set forth below.
TCA, N.V.
TCA, N.V. is a Netherlands Antilles corporation, the principal
business of which is serving as the general partner of Offshore II. The
principal business address of TCA, N.V., which also serves as its principal
office, is Caracasbaaiweg 201, P.O. Box 6085, Caracas, Netherlands Antilles. The
name, residence or business address, and present principal occupation or
employment of each executive officer and director of TCA, N.V. is as follows:
<TABLE>
<CAPTION>
RESIDENCE OR PRINCIPAL OCCUPATION
NAME BUSINESS ADDRESS OR EMPLOYMENT
---- ---------------- -------------
<S> <C> <C>
J. William Uhrig c/o Three Cities Research, Inc. a Managing Director of Three Cities
650 Madison Avenue Research, Inc.
New York, NY 10022
</TABLE>
The information about J. William Uhrig, the sole stockholder,
President and director of TCA, N.V., required by Instruction C to Schedule 13D
is set forth below.
Page 9 of 14 Pages
<PAGE>
UHRIG
J. William Uhrig is an individual who is the sole stockholder,
President and the sole director of TCA, N.V. The name, residence or business
address, and present principal occupation or employment of Mr. Uhrig is as
follows:
<TABLE>
<CAPTION>
RESIDENCE OR PRINCIPAL OCCUPATION
NAME BUSINESS ADDRESS OR EMPLOYMENT
---- ---------------- -------------
<S> <C> <C>
J. William Uhrig c/o Three Cities Research, Inc. a Managing Director of Three Cities
650 Madison Avenue Research, Inc.
New York, NY 10022
</TABLE>
(d) None of the entities or persons identified in this
Item 2 has, during the last five years, been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors).
(e) None of the entities or persons identified in this
Item 2 has, during the last five years, been a 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.
(f) Each individual named in this Item 2 is a citizen of
the United States of America, except that Willem F. P. de Vogel is a citizen of
the Kingdom of the Netherlands.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
By letter dated January 12, 2000 (the "Offer Letter," attached
hereto as Exhibit 1), Research, Fund II and TCR Offshore (collectively, the
"Buyers") submitted a proposal to the Board of Directors of the Company
concerning the acquisition by the Buyers of all of the outstanding shares of
Common Stock of the Company not currently owned by the Buyers (the "Proposed
Acquisition") for a cash purchase price of $3.50 per share (the
"Consideration").
The Buyers have calculated that, assuming that there are no
dissenting shares, approximately $6,339,102 will be required to pay the
aggregate Consideration payable to holders of Common Stock of the Company (other
than shares held by the Buyers) at the closing of the Proposed Acquisition
(based upon the number of outstanding shares of Common Stock set forth in the
Form 10-Q of the Company, filed on November 14, 2000). Buyers expect that the
funds to be used to pay the aggregate Consideration will come from available
cash reserves.
Page 10 of 14 Pages
<PAGE>
The transaction contemplated by the Offer Letter is subject to
a number of terms and conditions set forth therein. The information set forth in
response to this Item 3 is qualified in its entirety by reference to the Offer
Letter, which is expressly incorporated herein by reference.
ITEM 4. PURPOSE OF TRANSACTION.
Pursuant to the Offer Letter, Buyers have proposed the
Proposed Acquisition. The Proposed Acquisition is subject to a number of terms
and conditions set forth in the Offer Letter. The information set forth in
response to this Item 4 is qualified in its entirety by reference to the Offer
Letter, which is expressly incorporated herein by reference.
It is anticipated that upon the completion of the Proposed
Acquisition the Common Stock of the Company will cease to be quoted on the
Nasdaq National Market System and that the Common Stock of the Company will be
de-registered under the Securities Exchange Act of 1934, as amended (the
"Exchange Act").
The Reporting Persons expect to evaluate on an ongoing basis
the Company's financial condition, business, operations and prospects, market
price of the Common Stock, conditions in securities markets generally, general
economic and industry conditions and other factors. Accordingly, the Reporting
Persons reserve the right to change their plans and intentions at any time and
from time to time acquire additional shares of Common Stock or securities
convertible or exchangeable for Common Stock or dispose of shares of Common
Stock. Any such transactions may be effected at any time and from time to time,
subject to any applicable limitations of the Securities Act of 1933, as amended,
and the Exchange Act.
Except as disclosed in Item 3, Item 6 and this Item 4, none of
the Reporting Persons has any current plans or proposals which would relate to
or would result in:
(a) The acquisition by any person of additional
securities of the Company, or the disposition of securities of the Company;
(b) An extraordinary corporate transaction, such as a
merger, reorganization or liquidation, involving the Company or any of its
subsidiaries;
(c) A sale or transfer of a material amount of assets of
the Company or any of its subsidiaries;
(d) Any change in the present board of directors or
management of the Company, including any plans or proposals to change the number
or term of directors or to fill any existing vacancies on the board;
Page 11 of 14 Pages
<PAGE>
(e) Any material change in the present capitalization or
dividend policy of the Company;
(f) Any other material change in the Company's business
or corporate structure;
(g) Changes in the Company's charter, bylaws or
instruments corresponding thereto or other actions which may impede the
acquisition of control of the Company by any person;
(h) Causing a class of securities of the Company to be
delisted from a national securities exchange or to cease to be authorized to be
quoted in an inter-dealer quotation system of a registered national securities
association;
(i) A class of equity securities of the Company becoming
eligible for termination of registration pursuant to Section 12(g)(4) of the
Exchange Act; or
(j) Any action similar to any of those enumerated above.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit 1. Letter from Three Cities Research, Inc.,
Three Cities Fund II, L.P. and Three Cities
Offshore II, C.V. to John J. Pomerantz,
Chairman of the Board of Directors of the
Company, dated as of January 12, 2001.
Page 12 of 14 Pages
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of the knowledge and
belief of the undersigned, the undersigned certifies that the information set
forth in this statement is true, complete and correct.
Dated: January 17, 2001
THREE CITIES FUND II, L.P.
By: TCR Associates, L.P.,
its General Partner
By: Three Cities Research, Inc.,
its General Partner
By: /s/ Willem F. P. de Vogel
----------------------------------
Willem F. P. de Vogel
President
TCR ASSOCIATES, L.P.
By: Three Cities Research, Inc.,
its General Partner
By: /s/ Willem F. P. de Vogel
---------------------------------------
Willem F. P. de Vogel
President
THREE CITIES RESEARCH, INC.
By: /s/ Willem F. P. de Vogel
--------------------------------------------
Willem F. P. de Vogel
President
Page 13 of 14 Pages
<PAGE>
THREE CITIES OFFSHORE II C.V.
By: Three Cities Associates, N.V.,
its General Partner
By: /s/ J. William Uhrig
---------------------------------------
J. William Uhrig
President
THREE CITIES ASSOCIATES, N.V.
By: /s/ J. William Uhrig
--------------------------------------------
J. William Uhrig
President
/s/ J. William Uhrig
-------------------------------------------------
J. William Uhrig
Page 14 of 14 Pages
