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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event) August 31, 1998
ASSOCIATES FIRST CAPITAL CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 06-0876639
(State or other jurisdiction (I.R.S. Employer
of incorporation) Identification Number)
2-44197
(Commission File Number)
250 E. Carpenter Freeway, Irving, Texas 75062-2729
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (972) 652-4000
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Item 5. Other Events.
On August 31, 1998, Associates First Capital Corporation (the
"Registrant") announced it had entered into a definitive agreement to
acquire The Northland Company. The acquisition is subject to regulatory and
corporate approvals. A copy of the news release dated
August 31, 1998 issued by the Registrant is attached as Exhibit 20 and
incorporated by reference herein.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
20 - News Release by Associates First Capital Corporation
dated August 31, 1998
SIGNATURE
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 hereunto duly authorized.
ASSOCIATES FIRST CAPITAL CORPORATION
By: /s/ Frederic C. Liskow
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Frederic C. Liskow
Assistant Secretary
Date: August 31, 1998
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THE ASSOCIATES
NEWS
Media: (972) 652-4522 FOR IMMEDIATE RELEASE
Securities Analysts: (972) 652-7294
[email protected]
Shareholders: 1-888-NYSE-AFS
THE ASSOCIATES ANNOUNCES ACQUISITION
OF THE NORTHLAND COMPANY
DALLAS, August 31, 1998 - Associates First Capital Corporation
(NYSE: AFS) announced today it has agreed to acquire The
Northland Company, headquartered in Minneapolis, Minn., to
enhance its insurance operations. Terms were not disclosed. The
acquisition is subject to regulatory approval and approval by
Northland's stockholders.
Northland provides insurance products through Jupiter Holdings,
Inc., and mortgage banking, real estate management, brokerage and
related services through various other subsidiaries. The
Associates will acquire the insurance-related businesses only,
and Northland will divest the other businesses prior to closing.
In 1997, Jupiter Holdings had net written premiums of $388
million. The company provides an extensive portfolio of niche
property, casualty and specialty insurance products. All Jupiter
Holdings Inc. subsidiaries are rated A+ by A.M. Best.
"We are extremely pleased to bring Northland and its outstanding
management team and employees into The Associates family," said
Keith W. Hughes, chairman and chief executive officer of The
Associates. "Northland brings a history of profitable
underwriting performance and is an excellent strategic addition.
It complements our existing insurance business and provides us
with expanded distribution capabilities."
Associates First Capital Corporation is a leading diversified
finance company providing consumer and commercial finance,
leasing and related services worldwide. Headquartered in Dallas,
it is one of the nation's 100 largest companies, based on total
market capitalization.
This news release contains certain forward-looking statements.
The factors which may cause future results to differ materially
from expectations are discussed in the company's Form 10-K for
the year ended December 31, 1997, filed with the Securities and
Exchange Commission.
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