<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)
(Amendment No. 2)/1/
DELCO REMY INTERNATIONAL, INC.
(Name of Issuer)
CLASS A COMMON STOCK, $0.01 PAR VALUE
(Title of Class of Securities)
246626-10-5
(CUSIP Number)
MICHAEL A. DELANEY
VICE PRESIDENT
COURT SQUARE CAPITAL LIMITED
399 PARK AVENUE
NEW YORK, NEW YORK 10043
(212) 559-1000
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
With a Copy to:
CRAIG L. GODSHALL
DECHERT
4000 BELL ATLANTIC TOWER
1717 ARCH STREET
PHILADELPHIA, PENNSYLVANIA 19103
(215) 994-4000
December 22, 2000
(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 / /.
---------------------------
/1/ 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).
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<PAGE>
Note: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule 13d-7 for
other parties to whom copies are to be sent.
(Continued on following pages)
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<PAGE>
SCHEDULE 13D
CUSIP NO. 246626-10-5 Page 2 of 6 Pages
------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
COURT SQUARE CAPITAL LIMITED
------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
------------------------------------------------------------------------------
3 SEC USE ONLY
------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
0
SHARES -----------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 8,160,038**
-----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
8,160,038**
------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,160,038**
------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
45%**
------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
------------------------------------------------------------------------------
* (See Instructions)
** Includes 3,025,391 shares of Class A Common Stock sold by an
affiliate of Masco Tech, Inc. to Court Square Capital Limited
("Court Square") pursuant to a Stock Purchase Agreement, dated as of
August 1, 2000, as amended, between Masco Tech, Inc. and Citicorp
Venture Capital, Ltd. ("CVC") and 3,607,343 shares of Class A Common
Stock sold by CVC to Court Square pursuant to a Stock Purchase
Agreement, dated as of November 28, 2000, by and between CVC and
Court Square. Includes 1,527,304 shares of Class A Common Stock held
by affiliates of Court Square for which shares Court Square
disclaims beneficial ownership. Excludes 6,278,055 shares of Class B
Common Stock, all or a portion of which may be converted into Class
A Common Stock and 1,680,038 shares of Class A Common Stock which
may be acquired upon exercise of a warrant held by an affiliate of
CVC.
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<PAGE>
SCHEDULE 13D
CUSIP NO. 246626-10-5 Page 3 of 6 Pages
------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
CITICORP BANKING CORPORATION
------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
------------------------------------------------------------------------------
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 -----------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 8,160,038**
-----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
8,160,038**
------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,160,038**
------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
45%**
------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC
------------------------------------------------------------------------------
* (See Instructions)
** Includes 3,025,391 shares of Class A Common Stock sold by an
affiliate of Masco Tech, Inc. to Court Square Capital Limited
("Court Square") pursuant to a Stock Purchase Agreement, dated as of
August 1, 2000, as amended, between Masco Tech, Inc. and Citicorp
Venture Capital, Ltd. ("CVC") and 3,607,343 shares of Class A Common
Stock sold by CVC to Court Square pursuant to a Stock Purchase
Agreement, dated as of November 28, 2000, by and between CVC and
Court Square. Includes 1,527,304 shares of Class A Common Stock held
by affiliates of Court Square for which shares Court Square
disclaims beneficial ownership. Excludes 6,278,055 shares of Class B
Common Stock, all or a portion of which may be converted into Class
A Common Stock and 1,680,038 shares of Class A Common Stock which
may be acquired upon exercise of a warrant held by an affiliate of
CVC.
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<PAGE>
SCHEDULE 13D
CUSIP NO. 246626-10-5 Page 4 of 6 Pages
------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
CITICORP
------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
------------------------------------------------------------------------------
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 -----------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 8,160,038**
-----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
8,160,038**
------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,160,038**
------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
45%**
------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC
------------------------------------------------------------------------------
* (See Instructions)
** Includes 3,025,391 shares of Class A Common Stock sold by an
affiliate of Masco Tech, Inc. to Court Square Capital Limited
("Court Square") pursuant to a Stock Purchase Agreement, dated as of
August 1, 2000, as amended, between Masco Tech, Inc. and Citicorp
Venture Capital, Ltd. ("CVC") and 3,607,343 shares of Class A Common
Stock sold by CVC to Court Square pursuant to a Stock Purchase
Agreement, dated as of November 28, 2000, by and between CVC and
Court Square. Includes 1,527,304 shares of Class A Common Stock held
by affiliates of Court Square for which shares Court Square
disclaims beneficial ownership. Excludes 6,278,055 shares of Class B
Common Stock, all or a portion of which may be converted into Class
A Common Stock and 1,680,038 shares of Class A Common Stock which
may be acquired upon exercise of a warrant held by an affiliate of
CVC.
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<PAGE>
SCHEDULE 13D
CUSIP NO. 246626-10-5 Page 5 of 6 Pages
------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
CITIGROUP HOLDINGS COMPANY
------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
------------------------------------------------------------------------------
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 -----------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 8,160,038**
-----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
8,160,038**
------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,160,038**
------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
45%**
------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC
------------------------------------------------------------------------------
* (See Instructions)
** Includes 3,025,391 shares of Class A Common Stock sold by an
affiliate of Masco Tech, Inc. to Court Square Capital Limited
("Court Square") pursuant to a Stock Purchase Agreement, dated as of
August 1, 2000, as amended, between Masco Tech, Inc. and Citicorp
Venture Capital, Ltd. ("CVC") and 3,607,343 shares of Class A Common
Stock sold by CVC to Court Square pursuant to a Stock Purchase
Agreement, dated as of November 28, 2000, by and between CVC and
Court Square. Includes 1,527,304 shares of Class A Common Stock held
by affiliates of Court Square for which shares Court Square
disclaims beneficial ownership. Excludes 6,278,055 shares of Class B
Common Stock, all or a portion of which may be converted into Class
A Common Stock and 1,680,038 shares of Class A Common Stock which
may be acquired upon exercise of a warrant held by an affiliate of
CVC.
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<PAGE>
SCHEDULE 13D
CUSIP NO. 246626-10-5 Page 6 of 6 Pages
------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
CITIGROUP INC.
------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
------------------------------------------------------------------------------
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 -----------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 8,183,615**
-----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
8,183,615**
------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,183,615**
------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
45.2%**
------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC
------------------------------------------------------------------------------
** Includes 3,025,391 shares of Class A Common Stock sold by an
affiliate of Masco Tech, Inc. to Court Square Capital Limited
("Court Square") pursuant to a Stock Purchase Agreement, dated as of
August 1, 2000, as amended, between Masco Tech, Inc. and Citicorp
Venture Capital, Ltd. ("CVC") and 3,607,343 shares of Class A Common
Stock sold by CVC to Court Square pursuant to a Stock Purchase
Agreement, dated as of November 28, 2000, by and between CVC and
Court Square. Includes 1,527,304 shares of Class A Common Stock held
by affiliates of Court Square for which shares Court Square
disclaims beneficial ownership. Excludes 6,278,055 shares of Class B
Common Stock, all or a portion of which may be converted into Class
A Common Stock and 1,680,038 shares of Class A Common Stock which
may be acquired upon exercise of a warrant held by an affiliate of
CVC.
-7-
<PAGE>
SCHEDULE 13D
This Amendment No. 2 relates to a Schedule 13D filed on August 10, 2000
(the "Schedule 13D") and Amendment No. 1 to the Schedule 13D filed on December
5, 2000 ("Amendment No. 1"), which relates to the purchase of Class A Common
Stock, par value $0.01 per share (the "Class A Common Stock"), of Delco Remy,
Inc., a Delaware corporation (the "Company"). Information in the original
Schedule 13D and Amendment No. 1 remains in effect except to the extent that it
is superseded by the information contained in this Amendment No. 2. Information
given in response to each item shall be deemed incorporated by reference in all
other items. Capitalized terms used but not defined in this Amendment No. 2
shall have the respective meanings ascribed to them in the Schedule 13D and
Amendment No. 1. Item 4 of the Schedule 13D and Amendment No. 1 is hereby
amended and restated to read in its entirety as follows and Items 2 and 3 of the
Schedule 13D and Amendment No. 1 are hereby amended and supplemented as follows:
ITEM 2. IDENTITY AND BACKGROUND.
The response set forth in Item 2 of Schedule 13D is hereby amended and
supplemented by the following information:
(a) This Amendment No. 2 to the Schedule 13D is being filed by each of
the following persons pursuant to Rule 13(d)-(2)(a) promulgated by the
Securities and Exchange Commission (the "Commission") pursuant to Section 13 of
the Securities and Exchange Act of 1934 (the "Act"): (i) Court Square Capital
Limited, a Delaware corporation ("Court Square"), by virtue of its direct
beneficial ownership of Class A Common Stock, (ii) Citicorp Banking Corporation,
a Delaware corporation ("Citicorp Banking"), by virtue of its ownership of all
of the outstanding common stock of Court Square, (iii) Citicorp, a Delaware
corporation ("Citicorp"), by virtue of its ownership of all of the outstanding
common stock of Citicorp Banking, (iv) Citicorp Holdings Company, a Delaware
corporation ("Citigroup Holdings"), by virtue of its ownership of all of the
outstanding common stock of Citicorp, and (v) Citigroup Inc., a Delaware
corporation ("Citigroup"), by virtue of its ownership of all the outstanding
common stock of Citigroup Holdings (collectively, the "Reporting Persons").
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The response set forth in Item 3 of Schedule 13D is hereby amended and
supplemented by the following information:
On December 22, 2000, Court Square announced that it would make a cash
bid for all of the Company's issued and outstanding shares of Class A Common
Stock and Class B Common Stock, par value $0.01 per share (the "Class B Common
Stock" and collectively, the "Common Stock") at a price of $8 per share.
The total amount of funds required for Court Square to purchase all of
the outstanding shares of Common Stock (the "Offer") and to pay fees and
expenses related thereto is estimated to be approximately $106,000,000. Court
Square plans to obtain all funds needed for the Offer through available internal
funds.
ITEM 4. PURPOSE OF TRANSACTION.
The purpose of the Offer is to increase Court Square's equity interest
in the Company.
The timing of the consummation of the Offer will depend on a variety
of factors and legal requirements, the actions of the Board of Directors of the
Company, the number of shares of Common Stock (if any) acquired by Court Square
pursuant to the Offer, and whether the conditions to the Offer
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<PAGE>
have been satisfied or waived. The Offer is subject to customary conditions,
including regulatory approvals and the absence of any material change in the
business of the Company.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
(1) Filing Agreement dated January 2, 2001, Re: Joint Filing of Schedule 13D.
(2) Letter dated December 22, 2000 from Court Square to the Company.
-9-
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of their knowledge and
belief, the undersigned certify that the information set forth in this statement
is true, complete and correct. In executing this statement, the undersigned
agree, to the extent required by Rule 13d-1(f), that this statement is being
filed on behalf of each of the reporting persons herein.
Dated: January 2, 2001
COURT SQUARE CAPITAL LIMITED
By: /s/ Charles E. Corpening
---------------------------
Name: Charles E. Corpening
Title: Vice President
CITICORP BANKING CORPORATION
By: /s/ William Wolf
---------------------------
Name: William Wolf
Title: Senior Vice President
CITICORP
By: /s/ Joseph B. Wollard
--------------------------
Name: Joseph B. Wollard
Title: Assistant Secretary
CITIGROUP HOLDINGS COMPANY
By: /s/ Joseph B. Wollard
--------------------------
Name: Joseph B. Wollard
Title: Assistant Secretary
CITIGROUP INC.
By: /s/ Joseph B. Wollard
--------------------------
Name: Joseph B. Wollard
Title: Assistant Secretary
-10-
<PAGE>
EXHIBIT INDEX
No. Description
--- -----------
(1) Filing Agreement dated January 2, 2001, Re: Joint Filing of Schedule 13D.
(2) Letter dated December 22, 2000 from Court Square to the Company.
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