------------------------------
OMB APPROVAL
------------------------------
OMB Number: 3235-0287
Expires: September 30, 1998
Estimated average burden
hours per response ....... 0.5
------------------------------
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
================================================================================
1. Name and Address of Reporting Person*
The Goldman Sachs Group, L.P.
- --------------------------------------------------------------------------------
(Last) (First) (Middle)
85 Broad Street
- --------------------------------------------------------------------------------
(Street)
New York NY 10004
- --------------------------------------------------------------------------------
(City) (State) (Zip)
================================================================================
2. Issuer Name and Ticker or Trading Symbol
Amscan Holdings, Inc. (Nasdaq: AMSN)
================================================================================
3. IRS or Social Security Number of Reporting Person (Voluntary)
================================================================================
4. Statement for Month/Year
December 1997
================================================================================
5. If Amendment, Date of Original (Month/Year)
================================================================================
6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
================================================================================
7. Individual or Joint/Group Filing (Check Applicable Line)
[ ] Form filed by one Reporting Person
[X] Form filed by more than one Reporting Person
================================================================================
Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
================================================================================
<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
$75,000/
Common Stock 12-19-97 J(1) 825 shares A share 825 shares (2) (2)
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
====================================================================================================================================
</TABLE>
* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially
Owned (e.g., puts, calls, warrants, options, convertible securities)
================================================================================
<TABLE>
<CAPTION>
10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Option (contingent Common
right to buy) $9.83 12-19-97 J(3) 15,024,616 (3) (3) Stock 15,024,616 -- -0- (2)(3) (2)(3)
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
====================================================================================================================================
</TABLE>
Explanation of Responses:
See pages 3,4,5 and 6 attached.
(see pages 6,7,8 and 9 attached) January 12, 1998
- --------------------------------------------- -----------------------
**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedures.
Page 2 of 9
(122797DTI)
<PAGE>
Form 4
Continuation Sheet
ITEM 1: The Goldman Sachs Group, L.P.
85 Broad Street
New York, NY 10004
ITEM 2: Amscan Holdings, Inc. (NASDAQ: AMSN)
ITEM 4: December 19, 1997
- --------------------------------------------------------------------------------
Instruction 4(b)(v) list of other Reporting Persons:
This Statement of Changes in Beneficial Ownership on Form 4 (this "Form 4") is
filed by GS Capital Partners II, L.P., a Delaware limited partnership ("GSCP
II"), GS Capital Partners II Offshore, L.P., a Cayman Islands exempted limited
partnership ("GSCP II Offshore"), GS Capital Partners II (Germany) C.L.P., a
German civil law partnership ("GSCP II Germany"), Stone Street Fund 1997, L.P.,
a Delaware limited partnership ("Stone Street"), Bridge Street Fund 1997, L.P.,
a Delaware limited partnership ("Bridge Street" and, together with GSCP II, GSCP
II Offshore, GSCP II Germany and Stone Street, the "GSCP Funds"), GS Advisors,
L.P., a Delaware limited partnership ("GS Advisors"), GS Advisors II (Cayman),
L.P., a Cayman Islands exempted limited partnership ("GS Advisors Cayman"),
Goldman, Sachs & Co. oHG, a German general partnership ("GS oHG"), Stone Street
Asset Corp., a Delaware corporation ("Stone Asset"), Goldman, Sachs & Co., a New
York limited partnership ("Goldman Sachs"), and The Goldman Sachs Group, L.P., a
Delaware limited partnership ("GS Group" and, together with the GSCP Funds, GS
Advisors, GS Advisors Cayman, GS oHG, Stone Asset and Goldman Sachs, the
"Reporting Persons"). The principal business address of each of Goldman Sachs,
GS Group, GS Advisors, GSCP II, Stone Street, Bridge Street and Stone Asset is
85 Broad Street, New York, New York 10004. The principal business address for
each of GSCP II Offshore and GS Advisors Cayman is c/o Maples and Calder, P.O.
Box 309, Grand Cayman, Cayman Islands. The principal business address for each
of GSCP II Germany and GS oHG is Messeturm Friedrich-Ebert-Anlage 49, 60308
Frankfurt am Main, Germany. The Reporting Persons have designated GS Group as
the designated filer for this joint filing pursuant to Instruction 4(b)(v) to
Form 4.
Explanation of Responses:
(1) As previously reported on an Initial Statement of Beneficial Ownership
on Form 3, filed with the Securities and Exchange Commission (the "Commission")
on August 20, 1997 by certain of the Reporting Persons, and an Initial Statement
of Beneficial Ownership on Form 3, filed with the Commission on January 12, 1998
by certain other of the Reporting Persons, collectively, (the "Form 3"), Amscan
Holdings, Inc. (the "Issuer") and Confetti Acquisition, Inc. ("Confetti")
entered into the Merger Agreement, dated as of August 10, 1997 (the "Merger
Agreement") providing for the recapitalization of the Issuer and the merger of
Confetti with and into the Issuer (the "Merger"), with the Issuer as the
surviving corporation.
Page 3 of 9
<PAGE>
Form 4
Continuation Sheet
ITEM 1: The Goldman Sachs Group, L.P.
85 Broad Street
New York, NY 10004
ITEM 2: Amscan Holdings, Inc. (NASDAQ: AMSN)
ITEM 4: December 19, 1997
- --------------------------------------------------------------------------------
Explanation of Responses (continued):
On December 19, 1997 (the "Effective Time"), the Merger was consummated
and pursuant to the Merger Agreement, each share of the Issuer's Common Stock,
par value $0.10 per share (the "Common Stock"), issued and outstanding
immediately prior to the Effective Time (other than (i) shares of Common Stock
owned, directly or indirectly, by the Issuer or by Confetti and (ii) shares of
Common Stock subject to dissenters' rights) were converted, at the election of
each of the Issuer's stockholders, into the right to receive from the Issuer
either (A) $16.50 in cash or (B) $9.33 in cash plus a retained interest in the
Issuer equal to one share of Common Stock for every 150,000 shares held by such
stockholder, with fractional shares of Common Stock to be paid in cash. The
Estate of John A. Svenningsen (the "Estate"), which owned approximately 72% of
the outstanding shares of Common Stock immediately prior to the Effective Time,
elected to retain almost 10% of the outstanding shares of Common Stock. No other
stockholder elected to retain shares. Also pursuant to the Merger Agreement, at
the Effective Time each outstanding share of Confetti Common Stock, par value
$0.10 per share ("Confetti Common Stock"), was converted into an equal number of
shares of Common Stock of the Issuer as surviving corporation in the Merger.
Accordingly, in the Merger the 825 shares of Confetti Common Stock owned by the
GS Funds immediately prior to the Effective Time were converted into 825 shares
of Common Stock, representing approximately 81.7% of the 1,010 issued and
outstanding shares of the Issuer following the Effective Time.
Following the Merger, the Common Stock was delisted from the Nasdaq
National Market and the Issuer filed a Form 15 with the Securities and Exchange
Commission suspending the Issuer's duty to file reports under Section 15(d) of
the Securities Exchange Act of 1934, as amended (the "Exchange Act") and seeking
to deregister the Common Stock under the Exchange Act.
(2) GS Advisors is the sole general partner of GSCP II, GS Advisors Cayman
is the sole general partner of GSCP II Offshore, GS oHG is the sole managing
partner of GSCP II Germany, and Stone Asset, an affiliate of Goldman Sachs, is
the general partner of Stone Street and the sole managing general partner of
Bridge Street. Goldman Sachs serves as the investment manager of the GSCP Funds
other than Bridge Street and Stone Street GS Group, the general partner of
Goldman Sachs, owns a 99% interest in Goldman Sachs. As a result of the
consummation of the Merger, the GSCP Funds acquired shares of Common Stock as
follows:
Page 4 of 9
<PAGE>
Form 4
Continuation Sheet
ITEM 1: The Goldman Sachs Group, L.P.
85 Broad Street
New York, NY 10004
ITEM 2: Amscan Holdings, Inc. (NASDAQ: AMSN)
ITEM 4: December 19, 1997
- --------------------------------------------------------------------------------
Explanation of Responses (continued):
As of December 19, 1997, GSCP II may be deemed to own beneficially and
directly, and its general partner, GS Advisors, may be deemed to own
beneficially and indirectly, 517.628775 shares of Common Stock, or approximately
51.3% of the shares of Common Stock issued and outstanding. GS Advisors
disclaims beneficial ownership of the securities reported herein except to the
extent of its pecuniary interest in such securities.
As of December 19, 1997, GSCP II Offshore may be deemed to own
beneficially and directly, and its general partner, GS Advisors Cayman, may be
deemed to own beneficially and indirectly, 205.7786775 shares of Common Stock,
or approximately 20.4% of the shares of Common Stock issued and outstanding. GS
Advisors Cayman disclaims beneficial ownership of the securities reported herein
except to the extent of its pecuniary interest in such securities.
As of December 19, 1997, GSCP II Germany may be deemed to own
beneficially and directly, and its sole managing partner, GS oHG, may be deemed
to own beneficially and indirectly, 19.0926450 shares of Common Stock, or
approximately 1.9% of the shares of Common Stock issued and outstanding. GS oHG
disclaims beneficial ownership of the securities reported herein except to the
extent of its pecuniary interest in such securities.
As of December 19, 1997, Stone Street may be deemed to own beneficially
and directly 55.5348750 shares of Common Stock, or approximately 5.5% of the
shares of Common Stock issued and outstanding. As of December 19, 1997, Bridge
Street may be deemed to own beneficially and directly 26.9651260 shares of
Common Stock, or approximately 2.7% of the shares of Common Stock issued and
outstanding. Stone Asset, general partner of Stone Street and managing general
partner of Bridge Street, may be deemed to own beneficially and indirectly
82.5000000 shares of Common Stock, or approximately 8.2% of the shares of Common
Stock issued and outstanding. Stone Asset disclaims beneficial ownership of the
securities reported herein except to the extent of its pecuniary interest in
such securities.
As of December 19, 1997, Goldman Sachs and GS Group may be deemed to
beneficially own 825 shares of Common Stock through the GS Funds. Based on such
holdings, Goldman Sachs and GS Group could be deemed to beneficially own as of
December 19, 1997, 825 shares of Common Stock, or approximately 81.7% of the
outstanding shares of Common Stock. Goldman Sachs and GS Group disclaim
beneficial ownership of the shares of Common Stock
Page 5 of 9
<PAGE>
Form 4
Continuation Sheet
ITEM 1: The Goldman Sachs Group, L.P.
85 Broad Street
New York, NY 10004
ITEM 2: Amscan Holdings, Inc. (NASDAQ: AMSN)
ITEM 4: December 19, 1997
- --------------------------------------------------------------------------------
Explanation of Responses (continued):
beneficially owned by the GSCP Funds to the extent of partnership interests in
the GSCP Funds held by persons other than Goldman Sachs, GS Group or their
affiliates.
(3) As previously reported on the Form 3, in connection with the Merger
Agreement, Confetti entered into a Voting Agreement (the "Voting Agreement"),
dated as of August 10, 1997, with the Estate of John A. Svenningsen (the
"Estate") and Christine Svenningsen (the "Individual"), wife of John A.
Svenningsen and executrix of the Estate, who together were the beneficial owners
of 15,024,616 shares of Common Stock of the Issuer (the "Subject Shares").
Pursuant to the Voting Agreement, the Estate and the Individual granted Confetti
an irrevocable option (the "Option") to acquire the Subject Shares, in whole and
not in part, at a price of $9.83 per share in cash (the "Share Exercise Price"),
subject to certain conditions set forth the Voting Agreement, exercisable during
the 90-day period following a termination of the Merger Agreement, other than
pursuant to a termination upon mutual consent of Amscan and Confetti or pursuant
to a termination by Amscan based on an actual material breach by Confetti of its
obligations under the Merger Agreement. The Voting Agreement, including the
Option, terminated according to its terms upon the consummation of the Merger at
the Effective Time.
Signatures:
GS CAPITAL PARTNERS II, L.P.,
By: GS Advisors, L.P.,
its general partner
By: GS Advisors, Inc.,
its general partner
By: /s/ Richard A. Friedman
__________________________________
Name: Richard A. Friedman
Title: President
Page 6 of 9
<PAGE>
Form 4
Continuation Sheet
ITEM 1: The Goldman Sachs Group, L.P.
85 Broad Street
New York, NY 10004
ITEM 2: Amscan Holdings, Inc. (NASDAQ: AMSN)
ITEM 4: December 19, 1997
- --------------------------------------------------------------------------------
Signatures (continued):
GS ADVISORS, L.P.
By: GS Advisors, Inc.,
its general partner
By: /s/ Richard A. Friedman
__________________________________
Name: Richard A. Friedman
Title: President
GS CAPITAL PARTNERS II OFFSHORE, L.P.
By: GS Advisors II (Cayman), L.P.,
its general partner
By: GS Advisors II, Inc.,
its general partner
By: /s/ Richard A. Friedman
__________________________________
Name: Richard A. Friedman
Title: President
GS ADVISORS II (CAYMAN), L.P.
By: GS Advisors, II, Inc.,
its general partner
By: /s/ Richard A. Friedman
__________________________________
Name: Richard A. Friedman
Title: President
Page 7 of 9
<PAGE>
Form 4
Continuation Sheet
ITEM 1: The Goldman Sachs Group, L.P.
85 Broad Street
New York, NY 10004
ITEM 2: Amscan Holdings, Inc. (NASDAQ: AMSN)
ITEM 4: December 19, 1997
- --------------------------------------------------------------------------------
Signatures (continued):
GS CAPITAL PARTNERS II (Germany) CIVIL LAW
PARTNERSHIP (with limitation of liability)
By: GOLDMAN, SACHS & CO. oHG,
its managing partner
By: GOLDMAN, SACHS & CO.
Finanz GmbH, its managing partner
By: /s/ Richard A. Friedman
__________________________________
Name: Richard A. Friedman
Title: Attorney-in-Fact
GOLDMAN, SACHS & CO. oHG
By: Goldman, Sachs & Co.
Finanz GmbH, its managing partner
By: /s/ Richard A. Friedman
__________________________________
Name: Richard A. Friedman
Title: Attorney-in-Fact
STONE STREET FUND 1997, L.P.
By: Stone Street Asset Corp.,
its general partner
By: /s/ Richard A. Friedman
__________________________________
Name: Richard A. Friedman
Title: Vice President
Page 8 of 9
<PAGE>
Form 4
Continuation Sheet
ITEM 1: The Goldman Sachs Group, L.P.
85 Broad Street
New York, NY 10004
ITEM 2: Amscan Holdings, Inc. (NASDAQ: AMSN)
ITEM 4: December 19, 1997
- --------------------------------------------------------------------------------
Signatures (continued):
BRIDGE STREET FUND 1997, L.P.
By: Stone Street Asset Corp.,
its managing general partner
By: /s/ Richard A. Friedman
__________________________________
Name: Richard A. Friedman
Title: Vice President
STONE STREET ASSET CORP.
By: /s/ Richard A. Friedman
__________________________________
Name: Richard A. Friedman
Title: Vice President
GOLDMAN, SACHS & CO.
By: /s/ Richard A. Friedman
__________________________________
Name: Richard A. Friedman
Title: Managing Director
THE GOLDMAN SACHS GROUP, L.P.
By: The Goldman Sachs Corporation,
its general partner
By: /s/ Richard A. Friedman
__________________________________
Name: Richard A. Friedman
Title: Executive Vice President
Page 9 of 9
