SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C, 20549
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FORM 8-K/A
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 14, 1994
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GFC FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-11011 86-0695381
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
DIAL CORPORATE CENTER, PHOENIX, ARIZONA 85077
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 602/207-6900
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Item 2. Other Events.
On February 14, 1994, GFC Financial Corporation ("GFCFC"), through its
wholly-owned subsidiary, Greyhound Financial Corporation ("GFC"), acquired
Fleet Factors Corporation, operating under the trade name Ambassador Factors
("Ambassador"), from Fleet Financial Group, Inc. ("Fleet"). The purchase
price of the acquisition was $257,085,000 in cash and represented
Ambassador's stockholder's equity plus a premium and repayment of the
intercompany balance due from Ambassador to Fleet. GFC financed the
acquisition with proceeds received from the sale of GFCFC's discontinued
mortgage insurance subsidiary and cash generated from operations which was
previously used to repay outstanding commercial paper. GFCFC, simultaneous
with the acquisition, increased its investment in GFC by contributing
$40,000,000 of intercompany loans as additional paid in capital of GFC.
Item 7. Financial Statements and Exhibits.
(a) Financial Statements of Business Acquired.*
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* previously filed
SIGNATURES
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.
GFC FINANCIAL CORPORATION
(Registrant)
Dated: March 3, 1994 By /s/ Bruno A. Marszowski
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Bruno A. Marszowski, Vice President-Controller
Principal Financial Officer/Authorized Officer
