SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Information Statement Pursuant to Rules 13d-1 and 13d-2
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Ivex Packaging Corporation
(Name of Issuer)
Common Stock, Par Value $.01 Per Share
(Title of Class of Securities)
465855104
(CUSIP Number)
*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).
**The total number of shares reported herein (exclusive of shares held by
Controlling Persons as defined herein) is 210,911, which constitutes
approximately 1.0% of the total number of shares outstanding. All
ownership percentages set forth herein assume that there are 20,426,666
shares outstanding.<PAGE>
<PAGE>
1. Name of Reporting Person:
Acadia Partners, L.P.
2. Check the Appropriate Box if a Member of a Group:
(a) / /
(b) /X/
3. SEC Use Only
4. Citizenship or Place of Organization: Delaware
5. Sole Voting Power: 210,911 (1)(2)
Number of
Shares
Beneficially 6. Shared Voting Power: -0-
Owned By
Each
Reporting 7. Sole Dispositive Power: 210,911 (1)(2)
Person
With
8. Shared Dispositive Power: -0-
9. Aggregate Amount Beneficially Owned by Each Reporting Person:
210,911 (2)
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares:
/ /
11. Percent of Class Represented by Amount in Row (9): 1.0%
12. Type of Reporting Person: PN
- --------------
(1) Power is exercised by its sole general partner, Acadia FW Partners,
L.P., whose managing general partner is Acadia MGP, Inc., whose
president is J. Taylor Crandall.
(2) Solely in its capacity as sole general partner of Acadia Electra
Partners, L.P. <PAGE>
<PAGE>
1. Name of Reporting Person:
Acadia Electra Partners, L.P.
2. Check the Appropriate Box if a Member of a Group:
(a) / /
(b) /X/
3. SEC Use Only
4. Citizenship or Place of Organization: Texas
5. Sole Voting Power: 210,911 (1)
Number of
Shares
Beneficially 6. Shared Voting Power: -0-
Owned By
Each
Reporting 7. Sole Dispositive Power: 210,911 (1)
Person
With
8. Shared Dispositive Power: -0-
9. Aggregate Amount Beneficially Owned by Each Reporting Person:
210,911
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares:
/ /
11. Percent of Class Represented by Amount in Row (9): 1.0%
12. Type of Reporting Person: PN
- --------------
(1) Power is exercised by its sole general partner, Acadia Partners, L.P.,
whose sole general partner is Acadia FW Partners, L.P., whose managing
general partner is Acadia MGP, Inc., whose president is J. Taylor
Crandall.
<PAGE>
<PAGE>
Pursuant to Rule 13d-2(a) of Regulation 13D-G of the General Rules and
Regulations under the Securities Exchange Act of 1934, as amended (the
"Act"), the undersigned hereby amend their Schedule 13G Statement dated
February 13, 1998, (the "Schedule 13G"), relating to the Common Stock, par
value $.01 per share (the "Stock"), of Ivex Packaging Corporation. Unless
otherwise indicated, all defined terms used herein shall have the same
meanings ascribed to them in the Schedule 13G.
Item 4. Ownership.
Item 4 is hereby amended and restated in its entirety as follows:
(a) - (b)
Reporting Persons
Acadia
Because of its position as sole general partner of Acadia Electra, the
aggregate number of shares of the Stock that Acadia owns beneficially,
pursuant to Rule 13d-3 of the Act, is 210,911, which constitutes
approximately 1.0% of the outstanding shares of the Stock.
Acadia Electra
The aggregate number of shares of the Stock that Acadia Electra owns
beneficially, pursuant to Rule 13d-3 of the Act, is 210,911, which
constitutes approximately 1.0% of the outstanding shares of the Stock.
Controlling Persons
Acadia FW
Because of its position as the sole general partner of Acadia, Acadia FW
may, pursuant to Rule 13d-3 of the Act, be deemed to be the beneficial owner
of 210,911 shares of the Stock, which constitutes approximately 1.0% of the
outstanding shares of the Stock.
Acadia MGP
Because of its position as the managing general partner of Acadia FW,
Acadia MGP may, pursuant to Rule 13d-3 of the Act, be deemed to be the
beneficial owner of 210,911 shares of the Stock, which, together with the
18,380 shares of the Stock that Acadia MGP directly beneficially owns,
constitutes approximately 1.1% of the outstanding shares of the Stock.
Crandall
Because of his position as the President and sole stockholder of Acadia
MGP, which is the managing general partner of Acadia FW, which is the sole
general partner of Acadia, which is the sole general partner of Acadia
Electra, Crandall may, pursuant to Rule 13d-3 of the Act, be deemed to be the
beneficial owner of 229,291 shares of the Stock, which, together with the
36,259 shares of the Stock that Crandall directly beneficially owns,
constitutes in the aggregate approximately 1.3% of the outstanding shares of
the Stock.
(c)
Reporting Persons
Acadia
Acting through its sole general partner, and in its capacity as the sole
general partner of Acadia Electra, Acadia has the sole power to vote or to
direct the vote and to dispose or to direct the disposition of an aggregate
of 210,911 shares of the Stock.
Acadia Electra
Acting through its sole general partner, Acadia Electra has the sole
power to vote or to direct the vote and to dispose or to direct the
disposition of 210,911 shares of the Stock.
Controlling Persons
Acadia FW
In its capacity as the sole general partner of Acadia, and acting
through its managing general partner, Acadia FW has the sole power to vote or
to direct the vote and to dispose or to direct the disposition of 210,911
shares of the Stock.
Acadia MGP
Acadia MGP has the sole power to vote or to direct the vote and to
dispose or to directthe disposition of 18,380 shares of the Stock. In
addition, in its capacity as the managing general partner of Acadia FW, and
acting through its president, Acadia MGP has the sole power to vote or to
direct the vote and to dispose or to direct the disposition of 210,911 shares
of the Stock.
Crandall
Crandall has the sole power to vote or to direct the vote and to dispose
or direct the disposition of 36,259 shares of the Stock. In addition, in his
capacity as the President and sole stockholder of Acadia MGP, which is the
managing general partner of Acadia FW, which is the sole general partner of
Acadia, which is the sole general partner of Acadia Electra, Crandall has the
sole power to vote or to direct the vote and to dispose or direct the
disposition of 229,291 shares of the Stock.
Item 5. Ownership of Five Percent or Less of a Class.
Item 5 is hereby amended and restated in its entirety as follows:
This filing on Schedule 13G is for the purpose of reporting the fact
that the Reporting Persons have ceased to be the beneficial owners of more
than five percent (5%) of the outstanding shares of the Stock.
<PAGE>
<PAGE>
After reasonable inquiry and to the best of our knowledge and belief, we
certify that the information set forth in this statement is true, complete
and correct.
DATED:
ACADIA PARTNERS, L.P.
By: ACADIA FW PARTNERS, L.P.,
General Partner
By: ACADIA MGP, INC.,
Managing General Partner
By: /s/ W.R. Cotham
W.R. Cotham,
Vice President
ACADIA ELECTRA PARTNERS, L.P.
By: ACADIA PARTNERS, L.P.
General Partner
By: ACADIA FW PARTNERS, L.P.,
General Partner
By: ACADIA MGP, INC.,
Managing General Partner
By: /s/ W.R. Cotham
W.R. Cotham,
Vice President
Exhibit 99.1
Pursuant to Rule 13d-1(k)(1)(iii) of Regulation 13D-G of the General
Rules and Regulations of the Securities and Exchange Commission under the
Securities Exchange Act of 1934, as amended, the undersigned agree that the
statement to which this Exhibit is attached is filed on behalf of each of
them in the capacities set forth below.
ACADIA PARTNERS, L.P.
By: ACADIA FW PARTNERS, L.P.,
General Partner
By: ACADIA MGP, INC.,
Managing General Partner
By: /s/ W.R. Cotham
W.R. Cotham,
Vice President
ACADIA ELECTRA PARTNERS, L.P.
By: ACADIA PARTNERS, L.P.
General Partner
By: ACADIA FW PARTNERS, L.P.,
General Partner
By: ACADIA MGP, INC.,
Managing General Partner
By: /s/ W.R. Cotham
W.R. Cotham,
Vice President
