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UNITED STATES 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 REPORTED): SEPTEMBER 25, 2000
STEWART ENTERPRISES, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
LOUISIANA 0-19508 72-0693290
(STATE OR OTHER JURISDICTION (COMMISSION (I.R.S. EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
110 VETERANS MEMORIAL BOULEVARD
METAIRIE, LOUISIANA 70005
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
(504) 837-5880
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
NOT APPLICABLE
(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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ITEM 5. OTHER EVENTS
On September 25, 2000, the Company issued the following press release.
CONTACT: William E. Rowe FOR IMMEDIATE RELEASE
Stewart Enterprises, Inc.
110 Veterans Memorial Boulevard
Metairie, Louisiana 70005
504/837-5880
STEWART ENTERPRISES IN DISCUSSION TO SELL EUROPEAN OPERATIONS
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Metairie, LA, September 25, 2000 . . . Stewart Enterprises, Inc. (Nasdaq
NMS: STEI) announced today that it is in discussion with Funespana, S.A., a
publicly traded death care company domiciled in Madrid, Spain, regarding the
possible sale of all of Stewart's operations in Europe. Those operations
include Spain, Portugal, France, Belgium and The Netherlands serving
approximately 27,500 families a year.
William E. Rowe, chief executive officer and president of Stewart, stated
"As previously announced, Stewart has implemented various initiatives to
generate cash and reduce debt including consideration of the possible sale
of certain foreign operations. The Company has engaged an investment
banking firm to assist in this process and these discussions are in line
with those initiatives." Specific terms and price have not yet been
determined.
As previously disclosed, the sale of certain foreign operations could result
in a material charge to earnings but would generate significant cash for
debt reduction.
Founded in 1910, Stewart Enterprises is the third largest provider of
products and services in the death care industry in North America, currently
owning and operating 625 funeral homes and 163 cemeteries in North America,
South America, Europe and the Pacific Rim.
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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 thereunto duly authorized.
STEWART ENTERPRISES, INC.
September 25, 2000 /s/ KENNETH C. BUDDE
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Kenneth C. Budde
Executive Vice President
Chief Financial Officer
