UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
NORTHWEST AIRLINES CORPORATION
------------------------------
(Name of Issuer)
Class A Common Stock, Par Value $0.01
-------------------------------------
(Title of Class of Securities)
667280-10-1
-----------
(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 In 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).
Page 1 of 11
CUSIP NO. 667280-10-1 SCHEDULE 13G Page 2 of 11
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES-
NWA PARTNERS, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3097255
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
5. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 6. SHARED VOTING POWER 5,001,390**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 7. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
8. SHARED DISPOSITIVE POWER 5,001,390**
- ------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,001,390**
- ------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.2%**
- ------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON PN
- ------------------------------------------------------------------------------
** See response to Item 4 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 667280-10-1 SCHEDULE 13G Page 3 of 11
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3205364
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
5. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 6. SHARED VOTING POWER 5,001,390**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 7. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
8. SHARED DISPOSITIVE POWER 5,001,390**
- ------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,001,390**
- ------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.2%**
- ------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON IA, PN
- ------------------------------------------------------------------------------
** See response to Item 4 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 667280-10-1 SCHEDULE 13G Page 4 of 11
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, INC.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-2967812
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION California
- ------------------------------------------------------------------------------
5. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 6. SHARED VOTING POWER 5,001,390**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 7. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
8. SHARED DISPOSITIVE POWER 5,001,390**
- ------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,001,390**
- ------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.2%**
- ------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON CO
- ------------------------------------------------------------------------------
** See response to Item 4 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 667280-10-1 SCHEDULE 13G Page 5 of 11
- ------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON RICHARD C. BLUM
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
- ------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x]
(b) [ ]
- ------------------------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION USA
- ------------------------------------------------------------------------------
5. SOLE VOTING POWER -0-
NUMBER OF -----------------------------------------------------------
SHARES 6. SHARED VOTING POWER 5,001,390**
BENEFICIALLY
OWNED BY EACH -----------------------------------------------------------
PERSON WITH 7. SOLE DISPOSITIVE POWER -0-
-----------------------------------------------------------
8. SHARED DISPOSITIVE POWER 5,001,390**
- ------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,001,390**
- ------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.2%**
- ------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON IN
- ------------------------------------------------------------------------------
** See response to Item 4 below
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 667280-10-1 SCHEDULE 13G Page 6 of 11
Item 1(a). Name of Issuer:
- -------------------------
Northwest Airlines (the "Issuer")
Item 1(b). Address of Issuer's Principal Executive Offices:
- ----------------------------------------------------------
2700 Lone Oak Parkway, Eagan, MN 55121
Item 2(a). Name of Persons Filing:
- ----------------------------------
Reference is made to Item 1 of each of the cover pages of this Schedule, which
Items are incorporated by reference herein.
Item 2(b). Address of Principal Business Office or, in None, Residence:
- -----------------------------------------------------------------------
The address of each reporting person is 909 Montgomery Street, Suite 400, San
Francisco, California 94133.
Item 2(c). Citizenship:
- -----------------------
Reference is made to Item 4 of each of the cover pages of this Schedule, which
Items are incorporated by reference herein.
Item 2(d). Title of Class of Securities:
- ----------------------------------------
Class A Common Stock, $0.01 par value ("Common Stock").
Item 2(e). CUSIP Number:
- ------------------------
667280-10-1
Item 3. Type of Reporting Person:
- ---------------------------------
Not applicable
Item 4. Ownership.
- ------------------
Reference is hereby made to Items 5-9 and 11 of each of the cover pages to
this Schedule, which Items are incorporated by reference herein. At December
31, 1997, the following shares of Common Stock were held directly by the
following persons:
Person Common Stock
- -------------------------------- -------------
Richard C. Blum & Associates-NWA
Partners, L.P. ("RCBA-NWA") 4,737,888
Richard C. Blum & Associates, L.P. 263,502
("RCBA L.P.")
CUSIP NO. 667280-10-1 SCHEDULE 13G Page 7 of 11
The general partner of RCBA-NWA is RCBA L.P. The general partner of RCBA L.P.
is Richard C. Blum & Associates, Inc. ("RCBA Inc."). Richard C. Blum is a
controlling person and chairman of RCBA Inc., and a limited partner of RCBA
L.P. Because voting and investment decisions concerning the above securities
may be made by or in conjunction with the other reporting persons, each of the
reporting persons may be deemed a member of a group that shares voting and
dispositive power over all of the above securities. Although the reporting
persons are reporting such securities as if they were members of a group, the
filing of this Schedule shall not be construed as an admission by any
reporting person that it is a beneficial owner of any securities other than
those directly held by such reporting person.
As chairman, director and a substantial shareholder of RCBA, Inc., Mr. Blum
might be deemed to be the beneficial owner of the securities beneficially
owned by RCBA Inc., RCBA L.P. and RCBA-NWA. Mr. Blum reserves the right to
disclaim beneficial ownership of securities beneficially owned by such
entities. Although Mr. Blum is joining in this Amendment as a reporting
person, the filing of this Amendment shall not be construed as a n admission
that he, or any of the other shareholders, directors or executive officers of
RCBA Inc. is, for any purpose, the beneficial owner of any of the securities
that are beneficially owned by such entities.
Mr. Blum and Thomas Kempner, a director or RCBA Inc., are also directors of
the Issuer.
RCBA-NWA is a party to a Second Amended and Restated Investor Stockholders'
Agreement dated as of December 23, 1993, as amended (the "Stockholders'
Agreement") with the other investor stockholders named therein (the "Original
Investors") and the Issuer. See Exhibits B through H attached hereto. As a
result of being a party to the Stockholders' Agreement, RCBA-NWA and the other
reporting persons may be deemed members of a "group" for purposes of Section
13(d) of the Securities Exchange Act of 1934 and the rules and regulations
thereunder. The reporting persons hereby disclaim their possible status as a
member of such group for purposes of Section 13(d) and disclaim beneficial
ownership of the shares of Common Stock of the Issuer owned by the other
Original Investors.
Pursuant to the Stockholders' Agreement, RCBA-NWA has agreed along with the
other Original Investors holding together with RCBA-NWA in excess of 26.8% of
the outstanding voting stock of the Issuer (on a fully diluted basis) to vote
its shares of Common Stock of the Issuer for the election of certain directors
(including Mr. Blum).
Pursuant to the Amendment to the Second Amended and Restated Investor
Stockholders' Agreement dated as of September 29, 1997, attached hereto as
Exhibit H, KLM exercised its right, under the Stockholders' Agreement, to
purchase from RCBA-NWA 658,755 shares Common Stock in exchange for 163.6001
shares of NWA Corp.'s Series A Preferred Stock (the "Series A Preferred
Stock"), and 54.5250 shares of Series B Preferred Stock (the "Series B
Preferred Stock"). In addition, pursuant to the Blum Preferred Stock
Repurchase Agreement (the "Stock Repurchase Agreement"), between the Issuer
and RCBA-NWA dated as of September 29, 1997, attached hereto as Exhibit I,
CUSIP NO. 667280-10-1 SCHEDULE 13G Page 8 of 11
RCBA-NWA sold all of its shares of Series A Preferred Stock, 163.6001 shares,
and all of its shares of Series B Preferred Stock, 1781.5250 shares (including
1,727 shares of the Series B Preferred Stock owned prior to the Stock
Repurchase Agreement), to Issuer.
Item 5. Ownership of Five Percent or Less of a Class.
- -----------------------------------------------------
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
- ------------------------------------------------------------------------
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company.
- ----------------------------------------------------------------------------
Not applicable
Item 8. Identification and Classification of Members of the Group.
- ------------------------------------------------------------------
Not applicable
Item 9. Dissolution of Group.
- -----------------------------
Not applicable
Item 10. Certification.
- -----------------------
Not applicable
CUSIP NO. 667280-10-1 SCHEDULE 13G Page 9 of 11
SIGNATURES
After reasonable inquiry and to the best or our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: February 12, 1998
RICHARD C. BLUM & ASSOCIATES-NWA PARTNERS, L.P.
By: Richard C. Blum & Associates, L.P.
its general partner
By: /s/ Murray A. Indick
--------------------------------------
Murray A. Indick
Managing Director and General Counsel
RICHARD C. BLUM & ASSOCIATES, L.P.
By: /s/ Murray A. Indick
---------------------------------------
Murray A. Indick
Managing Director
and General Counsel
RICHARD C. BLUM & ASSOCIATES, INC.
By: /s/ Murray A. Indick
---------------------------------------
Murray A. Indick
Managing Director, General Counsel and
Secretary
/s/ Murray A. Indick
- -------------------------------------------
RICHARD C. BLUM
By: Murray A. Indick, Attorney-in-Fact
CUSIP NO. 667280-10-1 SCHEDULE 13G Page 10 of 11
EXHIBIT INDEX
Exhibit A Joint Filing Undertaking
Exhibit B Second Amended and Restated Investor Stockholders' Agreement
dated as of December 23, 1993 (the "Stockholders'
Agreement")*
Exhibit C Amendment dated as of October 23, 1995 to the Stockholders'
Agreement*
Exhibit D Supplement dated as of December 23, 1993 to the Stockholders'
Agreement (filed as Exhibit 4.11 to Northwest Airlines
Corporation's Annual Report on Form 10K for the year ended
December 31, 1994 (the "10-K") and incorporated herein by
reference)
Exhibit E Amendment dated as of December 14, 1994 to the Stockholders'
Agreement (filed as Exhibit 4.13 to the 10K and incorporated
herein by reference)
Exhibit F Amendment dated as of January 6, 1995 to the Stockholders'
Agreement (filed as Exhibit 4.14 to the 10-K and incorporated
herein by reference)
Exhibit G Amendment dated as of January 25, 1995 to the Stockholders'
Agreement (filed as Exhibit 4.15 to the 10-K and incorporated
herein by reference)
Exhibit H Amendment dated as of September 29, 1997 to the Stockholders'
Agreement (filed as Exhibit 10.7 to Northwest Airlines
Corporation's Form 10-Q for the quarter ended September 30,
1997 (the "10-Q") and incorporated herein by reference)
Exhibit I Blum Preferred Stock Repurchase Agreement dated as of
September 29, 1997 (filed as Exhibit 10.5 to the 10-Q and
Incorporated herein by reference)
* Previously filed
CUSIP NO. 667280-10-1 SCHEDULE 13G Page 11 of 11
Exhibit A
JOINT FILING UNDERTAKING
The undersigned, being duly authorized thereunto, hereby execute this
agreement as an exhibit to this Schedule 13D to evidence the agreement of the
below-named parties, in accordance with the rules promulgated pursuant to the
Securities Exchange Act of 1934, to file this Schedule jointly on behalf of
each such party.
Dated: February 12, 1998
RICHARD C. BLUM & ASSOCIATES-NWA PARTNERS, L.P.
By: Richard C. Blum & Associates, L.P.
its general partner
By: /s/ Murray A. Indick
--------------------------------------
Murray A. Indick
Managing Director and General Counsel
RICHARD C. BLUM & ASSOCIATES, L.P.
By: /s/ Murray A. Indick
---------------------------------------
Murray A. Indick
Managing Director
and General Counsel
RICHARD C. BLUM & ASSOCIATES, INC.
By: /s/ Murray A. Indick
---------------------------------------
Murray A. Indick
Managing Director, General Counsel and
Secretary
/s/ Murray A. Indick
- -------------------------------------------
RICHARD C. BLUM
By: Murray A. Indick, Attorney-in-Fact
