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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) March 9, 1999
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.
Associates First Capital Corporation (the "Registrant") has decided to
explore the sale of certain businesses acquired from Avco Financial Services,
Inc. The Registrant has retained the firm of Goldman, Sachs & Co. to
represent it in investigating the potential sale of the non-affiliate
business of Balboa Insurance Company and Balboa Life Insurance Company (the
"Balboa Operations")and the Registrant's Australian and New Zealand finance
and insurance operations. The Registrant's Australian and New Zealand
operations had approximately $1.3 billion (U.S. Dollars)in net receivables at
December 31, 1998 and the non-affiliate business of the Balboa Operations had
approximately $230 million net premiums written during the fiscal year ended
December 31, 1998.
In addition, on March 4, 1999, the Registrant completed the sale of its
recreational vehicle finance unit, Fleetwood Credit Corp. ("FCC") to
Nationsbank, N.A., a subsidiary of BankAmerica Corporation. FCC had
approximately $2.0 billion in managed net receivables at December 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/ John F. Stillo
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John F. Stillo
Senior Vice President and Comptroller
Date: March 9, 1999
