<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 4 TO
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)
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GALEY & LORD, INC.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
36353K-10-3
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(CUSIP Number)
Lance C. Balk
Kirkland & Ellis
153 East 53rd Street
New York, NY 10022
(212) 446-4940
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
September 7, 1999
--------------------------------------------------
(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
[ ].
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.
(Continued on following pages)
(Page 1 of 7)
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CUSIP No. 36352K-10-3 13D Page 2 of 7 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Citicorp Venture Capital, Ltd.
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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 ITEM
2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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NUMBER OF
SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 5,284,202
PERSON
WITH 9 SOLE DISPOSITIVE POWER
10 SHARED DISPOSITIVE POWER
5,284,202
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,284,202
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
44.39%
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14 TYPE OF REPORTING PERSON*
CO
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(Page 2 of 7)
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CUSIP No. 36352K-10-3 13D Page 3 of 7 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Citibank, N.A.
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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*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF
SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH 5,284,202
REPORTING
PERSON 9 SOLE DISPOSITIVE POWER
WITH
10 SHARED DISPOSITIVE POWER
5,284,202
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,284,202
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
44.39%
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14 TYPE OF REPORTING PERSON*
BK
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(Page 3 of 7)
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CUSIP No. 36352K-10-3 13D Page 4 of 7 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Citicorp
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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*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF
SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 5,284,202
PERSON
WITH 9 SOLE DISPOSITIVE POWER
10 SHARED DISPOSITIVE POWER
5,284,202
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,284,202
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
44.39%
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14 TYPE OF REPORTING PERSON*
HC
(Page 4 0f 7)
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CUSIP No. 36352K-10-3 13D Page 5 of 7 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Citigroup Inc.
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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*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM
2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF
SHARES 7 SOLE VOTING POWER
BENEFICIALLY
OWNED BY 8 SHARED VOTING POWER
EACH 5,286,835
REPORTING
PERSON 9 SOLE DISPOSITIVE POWER
10 SHARED DISPOSITIVE POWER
5,286,835
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,286,835
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
44.42 %
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14 TYPE OF REPORTING PERSON*
HC
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(Page 5 of 7)
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This Amendment No. 4 to Schedule 13D ("Amendment No. 4") amends the 13D
originally filed on April 2, 1999, as amended by Amendment No. 1 to Schedule 13D
filed on May 25, 1999, Amendment No. 2 to Schedule 13D filed on June 22, 1999
and Amendment No. 3 to Schedule 13D filed on August 6, 1999, with the Securities
and Exchange Commission pursuant to Rule 13d-1 of the Securities Exchange Act of
1934, as amended.
This Amendment No. 4 relates to the Common Stock, par value $.01 per
share of (the "Common Stock"), of Galey & Lord, Inc., a Delaware corporation
("Issuer"). Amendment No. 4 is being filed due to the purchase by Citicorp
Venture Capital, Ltd. ("CVC") of a certain number of shares of the Issuer's
Common Stock.
Item 5(a)-(b) is hereby amended in its entirety as follows:
(a)-(b) As of the close of business on September 7, 1999, CVC
beneficially owns 5,284,202 shares of Common Stock, representing approximately
44.39% of the outstanding shares of such class, of which it has shared voting
power and dispositive power. Citibank and Citicorp, exclusively through their
holding company structures, also both beneficially own the same 5,284,202 shares
of Common Stock, representing approximately 44.39% of the outstanding shares of
such class as to which each has shared voting and dispositive powers. Citigroup,
through its direct and indirect subsidiaries (including those described in the
second paragraph of Item 4) beneficially owns 5,286,835 shares of Common Stock
representing approximately 44.42% of the outstanding shares of such class as to
which it has shared voting and dispositive powers.
Item 5(c) is hereby amended by adding the following sentences to the
end of the paragraph:
On August 6, 1999, CVC acquired 7,700 shares of Common Stock for an
average price of $3.9875 per share in the public market. On August 12, 1999, CVC
acquired 4,700 shares of Common Stock for an average price of $4.42021 per share
in the public market. On August 13, 1999, CVC acquired 3,500 shares of Common
Stock for an average price of $4.50 per share in the public market. On August
16, 1999, CVC acquired 2,400 shares of Common Stock for an average price of
$4.50 per share in the public market. On August 17, 1999, CVC acquired 11,500
shares of Common Stock for an average price of $4.2946 per share in the public
market. On August 18, 1999, CVC acquired 4,400 shares of Common Stock for an
average price of $4.25 per share in the public market. On August 19, 1999, CVC
acquired 35,000 shares of Common Stock for an average price of $4.15518 per
share in the public market. On August 23, 1999, CVC acquired 5,200 shares of
Common Stock for an average price of $4.08654 per share in the public market. On
August 24, 1999, CVC acquired 11,000 shares of Common Stock for an average price
of $4.125 per share in the public market. On August 26, 1999, CVC acquired 3,000
shares of Common Stock for an average price of $4.125 per share in the public
market. On August 27, 1999, CVC acquired 5,000 shares of Common Stock for an
average price of $4.0625 per share in the public market. On August 30, 1999, CVC
acquired 3,200 shares of Common Stock for an average price of $4.096 per share
in the public market. On September 1, 1999, CVC acquired 4,300 shares of Common
Stock for an average price of $4.0625 per share in the public market. On
September 2, 1999, CVC acquired 3,100 shares of Common Stock for an average
price of $4.0625 per share in the public market. On September 3, 1999, CVC
acquired 3,500 shares of Common Stock for an average price of $4.10714 per share
in the public market. On September 7, 1999, CVC acquired 30,000 shares of Common
Stock for an average price of $4.021 per share in the public market.
(Page 6 of 7)
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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.
Dated: September 9, 1999
CITICORP VENTURE CAPITAL, LTD.
By: /s/ Helen B. Shavin
------------------------------------------
Name: Helene B. Shavin
Title: Vice President & Assistant Secretary
CITIBANK, N.A.
By: /s/ Glenn S. Gray
------------------------------------------
Name: Glenn S. Gray
Title: Vice President & Assistant Secretary
CITICORP
By: /s/ Glenn S. Gray
------------------------------------------
Name: Glenn S. Gray
Title: Assistant Secretary
CITIGROUP INC.
By: /s/ Glenn S. Gray
------------------------------------------
Name: Glenn S. Gray
Title: Assistant Secretary
(Page 7 of 7)
