SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13G
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULES 13d-1(b) AND (c) AND AMENDMENTS
THERETO FILED PURSUANT TO 13d-2(b)
(Amendment No. 1)
Universal Outdoor Holdings, Inc.
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(Name of Issuer)
Common Stock (par value $.01 per share)
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(Title of Class of Securities)
91377M105
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(CUSIP Number)
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CUSIP No. 91377M105
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kelso Investment Associates V, L.P.
13-372-8774
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 0
SHARES ----------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0
EACH ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON 0
WITH ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- ----------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- ----------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* |_|
- ----------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0 %
- ----------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- ----------------------------------------------------------------------------
CUSIP No. 91377M105
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kelso Equity Partners V, L.P.
13-378-7708
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 0
SHARES ----------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0
EACH ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON 0
WITH ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- ----------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- ----------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* |_|
- ----------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0 %
- ----------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- ----------------------------------------------------------------------------
CUSIP No. 91377M105
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Joseph S. Schuchert
###-##-####
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ----------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 0
SHARES ----------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0
EACH ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON 0
WITH ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- ----------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- ----------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* |_|
- ----------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0 %
- ----------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- ----------------------------------------------------------------------------
CUSIP No. 91377M105
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Michael B. Goldberg
###-##-####
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ----------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 0
SHARES ----------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0
EACH ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON 0
WITH ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- ----------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- ----------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* |_|
- ----------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0 %
- ----------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- ----------------------------------------------------------------------------
CUSIP No. 91377M105
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Frank T. Nickell
###-##-####
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ----------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 0
SHARES ----------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0
EACH ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON 0
WITH ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- ----------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- ----------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* |_|
- ----------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0 %
- ----------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- ----------------------------------------------------------------------------
CUSIP No. 91377M105
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
George E. Matelich
###-##-####
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ----------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 60,000
SHARES ----------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0
EACH ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON 60,000
WITH ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- ----------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
60,000
- ----------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* |_|
- ----------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
Less than 1 %
- ----------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- ----------------------------------------------------------------------------
CUSIP No. 91377M105
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Thomas R. Wall, IV
###-##-####
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ----------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 30,000
SHARES ----------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0
EACH ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON 30,000
WITH ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- ----------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,000
- ----------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* |_|
- ----------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
Less than 1 %
- ----------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
CUSIP No. 91377M105
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Frank K. Bynum, Jr.
###-##-####
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ----------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 30,000
SHARES ----------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0
EACH ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON 30,000
WITH ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- ----------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,000
- ----------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* |_|
- ----------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
Less than 1 %
- ----------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- ----------------------------------------------------------------------------
STATEMENT ON SCHEDULE 13G
Item 1(a) Name of Issuer:
Universal Outdoor Holdings, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
311 South Wacker Drive, Suite 6400
Chicago, Illinois 60606
Item 2(a) Name of Person Filing:
See Item 1 of the cover pages attached hereto.
Item 2(b) Address of Principal Business Office or, if none,
Residence:
For Kelso Investment Associates V, L.P., Kelso Equity
Partners V, L.P., Joseph S. Schuchert, Michael B.
Goldberg, Frank T. Nickell, George E. Matelich, Thomas
R. Wall, IV, and Frank K. Bynum, Jr.:
c/o Kelso & Company
320 Park Avenue, 24th Floor
New York, New York 10022
Item 2(c) Citizenship:
See Item 4 of the cover pages attached hereto.
Item 2(d) Title of Class of Securities:
Common Stock (par value $.01 per share)
Item 2(e) CUSIP Number:
91377M105
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a:
(a) [ ] Broker or Dealer registered under Section 15
of the Act,
(b) [ ] Bank as defined in section 3(a)(6) of the Act,
(c) [ ] Insurance Company as defined in section 3(a)(19)
of the Act,
(d) [ ] Investment Company registered under section 8
of the Investment Company Act,
(e) [ ] Investment Adviser registered under section
203 of the Investment Advisers Act of 1940,
(f) [ ] Employee Benefit Plan, Pension Fund which is
subject to the provisions of the Employee
Retirement Income Security Act of 1974 or
Endowment Fund; see Rule 13d-1(b)(1)(ii)(F),
(g) [ ] Parent Holding Company, in accordance with
Rule 13d-1(b)(ii)(G); see Item 7,
(h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H).
Not applicable.
Item 4. Ownership.
(a) Amount Beneficially Owned:
See Item 9 of the cover pages attached hereto.
(b) Percent of Class:
See Item 10 of the cover pages attached hereto.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote
See Item 5 of the cover pages attached hereto.
(ii) shared power to vote or to direct the vote
See Item 6 of the cover pages attached hereto.
(iii) sole power to dispose or to direct the disposition of
See Item 7 of the cover pages attached hereto.
(iv) shared power to dispose or to direct the disposed of
See Item 8 of the cover pages attached hereto.
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as
of the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following [X].
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. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification
Not applicable because the statement is filed pursuant to
Rule 13d-1(c).
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete
and correct.
Dated: February 13, 1998
By: *
______________________________________
Title: ___________________________________
Kelso Investment Associates V, L.P.
By: *
______________________________________
Title: ___________________________________
Kelso Equity Partners V, L.P.
By: *
______________________________________
Name: Joseph S. Schuchert
By: *
______________________________________
Name: Michael B. Goldberg
By: *
______________________________________
Name: Frank T. Nickell
By: *
______________________________________
Name: George E. Matelich
By: *
______________________________________
Name: Thomas R. Wall, IV
By: *
______________________________________
Name: Frank K. Bynum, Jr.
*By: /s/ James J. Connors II
____________________________
James J. Connors II
Attorney-in-fact
