UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1 (a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2 (a)
(Amendment No. )1
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Repap Enterprises, Inc.
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(Name of Issuer)
Common Stock, no par value per share
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(Title of Class of Securities)
76026M309
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(CUSIP Number)
Martin J. Whitman, 767 Third Avenue, New York, NY 10017, (212)888-6685
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
June 24, 1999
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(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
schedule because of Rule 13d-1(e), 13d-1 (f) or 13d-1 (g), check the following
box [X ].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
1The 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
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>
SCHEDULE 13D
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CUSIP No. 76026M309 Page 2 of 8
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
EQSF Advisers, Inc.
(EIN 13-3354359)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York Corporation
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7 SOLE VOTING POWER
139,605,679
NUMBER OF
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SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY None
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 139,605,679
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WITH 10 SHARED DISPOSITIVE POWER
None
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
139,605,679
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
18.78%
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TYPE OF REPORTING PERSON*
14
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
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CUSIP No. 76026M309 Page 3 of 8
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON
Martin J. Whitman
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
NA
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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7 SOLE VOTING POWER
None
NUMBER OF
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SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY None
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON None
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WITH 10 SHARED DISPOSITIVE POWER
None
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
-0-
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TYPE OF REPORTING PERSON*
14
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
Item 1. Security and Issuer
This statement relates to the Common Stock, no par value per
share, of Repap Enterprises Inc. (the "Issuer"). The address of the Issuer's
principal executive offices is 300 Atlantic Street, Suite 200, Stamford, CT
06901.
Item 2. Identity and Background
The persons filing this statement are EQSF Advisers, Inc., a
New York corporation ("EQSF"), and Martin J. Whitman, all having their principal
place of business at 767 Third Avenue, New York, New York 10017 (EQSF and Mr.
Whitman are hereinafter collectively referred to as "Registrants").
EQSF is an investment adviser registered under the Investment
Advisers Act of 1940 and provides investment advisory services to several
registered mutual funds. Mr. Whitman, a United States citizen, is the Chairman
of the Board of EQSF and controls (through ownership and an irrevocable proxy) a
majority of the outstanding shares of EQSF common stock. Mr. Whitman is also
Chairman of the Board and Chief Executive Officer of Danielson Holding
Corporation, a Delaware corporation and an insurance holding company ("DHC"),
and M.J. Whitman, Inc., a New York corporation and a registered broker-dealer
("MJW"), both of which have their principal place of business at 767 Third
Avenue, New York, NY 10017.
Mr. David M. Barse is the President and Chief Operating
Officer and a director of EQSF, DHC and MJW. Michael Carney is the Treasurer and
Chief Financial Officer of EQSF, DHC and MJW. Ian M. Kirschner is the Secretary
and General Counsel of EQSF, DHC and MJW. Barbara Whitman is a registered
representative at MJW and a director of EQSF. The principal place of business of
each of the foregoing is 767 Third Avenue, New York, New York 10017.
None of the Registrants nor any executive officer or director
of EQSF has, during the past five years, (a) been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors), or (b) 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.
<PAGE>
Item 3. Source and Amount of Funds or Other Consideration
The shares subject to this report were purchased by Third
Avenue Value Fund ("TAVF") and Third Avenue Small-Cap Value Fund ("Small-Cap
Value"), two of the mutual funds for which EQSF is the investment adviser. The
aggregate purchase price of the 126,605,679 shares of the Issuer purchased by
TAVF was $6,671,239. The aggregate purchase price of the 13,000,000 shares of
the Issuer purchased by Small-Cap Value was $685,010. All of such shares were
paid for with the respective working capital of TAVF and Small-Cap Value.
Item 4. Purpose of Transaction
The Registrants have acquired their shares for investment
purposes and not with a view to acquiring control of the Issuer and previously
filed a Form 13-G with respect to the shares of the Issuer reported in this
Form. The Registrants became aware of a conflict between the Chairman of the
Board and the operating management of the Issuer and the desire of operating
management and other shareholders of the Issuer to replace the Chairman of the
Board and the outside directors of the Issuer. The Registrants were supportive
of the efforts of operating management of the Issuer and those other
shareholders. In connection with the replacement of the outside directors of the
Issuer, the Registrants proposed the nomination of one director who is a Trustee
of TAVF and Small-Cap Value.
Item 5. Interest in Securities of the Issuer
EQSF is the beneficial owner of 139,605,679 shares of the
Issuer, which constitutes approximately 18.78% of the outstanding shares of the
Issuer based on the number of such shares outstanding according to the Issuer's
quarterly report on Form 10-Q for the quarter ended March 31, 1999. EQSF has the
sole power to vote and to direct the disposition of the shares of the Issuer.
Mr. Whitman may be deemed to have beneficial ownership of the shares of the
Issuer beneficially owned by EQSF by reason of his control of EQSF. Mr. Whitman
disclaims beneficial ownership of such shares for all other purposes. TAVF, an
investment company registered under the Investment Company Act of 1940, has the
right to receive dividends from, and the proceeds from the sale of, 126,605,679
of the shares reported by EQSF and Small-Cap Value, an investment company
registered under the Investment Company Act of 1940, has the right to receive
dividends from, and the proceeds from the sale of, 13,000,000 of the shares
reported by EQSF.
No transactions in the shares of the Issuer were effected in
the last 60 days.
<PAGE>
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer.
None
Item 7. Material to Be Filed as Exhibits
1. Joint Filing Agreement dated June 28, 1999.
<PAGE>
Signature
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
June 28,1999
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Date
EQSF Advisers, Inc.
By: /s/ MARTIN J. WHITMAN
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Name: Martin J. Whitman
Title: Chairman, President and
Chief Executive Officer
/s/ MARTIN J. WHITMAN
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Martin J. Whitman
Exhibit 1
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JOINT FILING AGREEMENT
In accordance with Rule 13d-1 (f) under the Securities
Exchange Act of 1934, as amended, the undersigned hereby agree to the joint
filing on behalf of each of them of a statement on Schedule 13D (including
amendments thereto) with respect to the Common Stock, No par value per share, of
Repap Enterprises Inc. and that this Agreement be included as an Exhibit to such
joint filing. This Agreement may be executed in any number of counterparts all
of which taken together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the undersigned hereby execute this
Agreement this 28th day of June, 1999.
EQSF ADVISERS, INC.
By:/s/ MARTIN J. WHITMAN
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Martin J. Whitman
Chairman, President and Chief Executive Officer
/s/ MARTIN J. WHITMAN
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Martin J. Whitman
