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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. *)
Internacionale de Ceramica, S.A. de C.V.
(Name of Issuer)
American Depository Receipt
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(Title of Class of Securities)
458847506
(CUSIP Number)
Eric M. Sippel, Esq.
Shartsis Friese & Ginsburg, LLP
One Maritime Plaza, 18th Floor
San Francisco, CA 94111
(415) 421-6500
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
April 9, 1996
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following
box / /.
Check the following box if a fee is being paid with the statement / /. (A
fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent of
the class of securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of five percent or less of
such class.) (See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are
to be sent.
* 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).
SEC 1746 (12-91)
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SCHEDULE 13D
CUSIP No. 458847506 Page 2 of 10 Pages
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1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Jayhawk Investments, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / X/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 401,600
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
401,600
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
401,600
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.26
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 458847506 Page 3 of 10 Pages
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1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Jayhawk Institutional Partners, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / X/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 57,300
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
57,300
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
57,300
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.6
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 458847506 Page 4 of 10 Pages
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1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Jayhawk Capital Management, L.L.C.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / X/
(b) / /
- ---------------------------------------------------------------------------
3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- ---------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 458,900
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
458,900
- ---------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
458,900
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.9
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14 TYPE OF REPORTING PERSON*
00 IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 458847506 Page 5 of 10 Pages
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1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Kent C. McCarthy
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / X/
(b) / /
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3 SEC USE ONLY
- ---------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ---------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 458,900
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
458,900
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
458,900
- ---------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- ---------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.9
- ---------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ---------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 458847506 Page 6 of 10 Pages
ITEM 1. SECURITY AND ISSUER.
This statement relates to American Depository Receipts of Internacionale de
Ceramica, S.A. de C.V. ("ICM"). The principal executive office of ICM is
located at Prol. Ave. Pacheco, y Vias del FFCC, Ch-P, Chihuahua, Chih.,
Mexico.
ITEM 2. IDENTITY AND BACKGROUND.
The persons filing this statement and the persons enumerated in Instruction
C of Schedule 13D and, where applicable, their respective places of
organization, general partners, directors, executive officers and controlling
persons, and the information regarding them, are as follows:
(a) The persons filing this statement are Jayhawk Investments, L.P.
("JILP"), Kent McCarthy ("McCarthy"), Jayhawk Institutional Partners, L.P.
("JIPLP") and Jayhawk Capital Management, L.L.C. ("JCM"). JILP, JIPLP and
JCM are organized in Delaware.
(b) The address for the principal office and principal business of
JILP, McCarthy, JIPLP and JCM is 8201 Mission Road, Suite 110, Prairie
Village, KS 66208.
(c) McCarthy is the manager of JCM which serves as the investment
adviser to and general partner of both JIPLP and JILP, investment limited
partnerships.
(d) During the last five years, none of such persons has been convicted
in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) During the last five years, none of such persons has been party to
a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to a
judgment, decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities
laws or finding any violation with respect to such laws.
(f) McCarthy is a citizen of the United States.
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 458847506 Page 7 of 10 Pages
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The source and amount of funds used in purchasing the ADRs were as follows:
Purchaser Source of Funds Amount
JILP Working Capital $2,573,711.45
JIPLP Working Capital $ 380,008.32
ITEM 4. PURPOSE OF TRANSACTION.
The principal purpose of the acquisition of these ADRs is investment. The
persons named in Item 2 of this statement have no plans or proposals that
relate to or would result in:
(a) The acquisition by any person of additional securities of ICM, or
the disposition of securities of ICM;
(b) An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving ICM or any of its subsidiaries;
(c) A sale or transfer of a material amount of assets of ICM or of any
of its subsidiaries;
(d) Any change in the present board of directors or management of ICM,
including any plans or proposals to change the number or term of directors or
to fill any existing vacancies on the board;
(e) Any material change in the present capitalization or dividend
policy of ICM;
(f) Any other material change in ICM's business or corporate structure;
(g) Changes in ICM's charter, by-laws or instruments corresponding
thereto or other actions which may impede the acquisition of control of ICM
by any person;
(h) Causing a class of securities of ICM to be delisted from a national
securities exchange or to cease to be authorized to be quoted in an inter-
dealer quotation system of a registered national securities association;
(i) A class of equity securities of ICM becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Act; or
(j) Any action similar to any of those enumerated above.<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 458847506 Page 8 of 10 Pages
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The beneficial ownership of the ADRs of the person named in Item 2 of this
statement is as follows at the date hereof:
Aggregate
Beneficially
Owned Voting Power Dispositive Power
Name Number Percent* Sole Shared Sole Shared
McCarthy 458,900 12.9 0 458,900 0 458,900
JILP 401,600 11.6 0 401,600 0 401,600
JIPLP 57,300 1.6 0 57,300 0 57,300
JCM 458,900 12.9 0 458,900 0 458,900
The persons filing this statement effected the following transactions in the
ADRs on the dates indicated, and such transactions are the only transactions
in the ADRs by the persons filing this statement since September 1, 1996:
Purchase Number Price Broker
Name or Sale Date of ADRs Per ADR Used
JILP P 9-9-96 18,000 6.000 GOLDMAN, SACHS & C0.
JIPLP P 9-9-96 2,000 6.000 GOLDMAN, SACHS & C0.
JILP P 9-11-96 90,000 6.125 GOLDMAN, SACHS & C0.
JIPLP P 9-11-96 10,000 6.125 GOLDMAN, SACHS & C0.
JILP P 10-2-96 9,000 6.125 GOLDMAN, SACHS & C0.
JIPLP P 10-2-96 1,000 6.125 GOLDMAN, SACHS & C0.
JILP P 10-4-96 9,000 6.000 GOLDMAN, SACHS & C0.
JIPLP P 10-4-96 1,000 6.000 GOLDMAN, SACHS & C0.
JILP P 10-7-96 22,500 5.750 U.S.CLEARING
JIPLP P 10-7-96 2,500 5.750 U.S.CLEARING
JILP P 10-8-96 40,500 5.778 U.S.CLEARING
JIPLP P 10-8-96 4,500 5.778 U.S.CLEARING
* Percentage of outstanding ULD units beneficially owned. Each ADR
represents 5 ULD units.
ITEM. 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
JCM serves as general partner to both JILP and JIPLP pursuant to limited
partnership agreements which provide JCM with the authority to purchase, vote
and dispose of securities for JILP and JIPLP. JCM is entitled to fees based
on assets under management and special profit allocations based on realized
and unrealized gains and losses, if certain conditions are met.<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 458847506 Page 9 of 10 Pages
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
A. Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G.
SIGNATURES
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: November 19, 1996.
Jayhawk Capital Management, L.L.C. Jayhawk Investments, L.P.
By: /s/ Kent C. McCarthy By: Jayhawk Capital Management,
Kent C. McCarthy, Manager L.L.C.
By: /s/ Kent C. McCarthy
Kent C. McCarthy
/s/ Kent C. McCarthy Manager
Kent C. McCarthy
Jayhawk Institutional Partners,
L.P.
By: Jayhawk Capital Management,
L.L.C.
By: /s/ Kent C. McCarthy
Kent C. McCarthy
Manager
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 458847506 Page 10 of 10 Pages
EXHIBIT A
AGREEMENT REGARDING JOINT FILING
OF STATEMENT ON SCHEDULE 13D OR 13G
The undersigned agree to file jointly with the Securities and Exchange
Commission (the "SEC") any and all statements on Schedule 13D or Schedule 13G
(and any amendments or supplements thereto) required under section 13(d) of
the Securities Exchange Act of 1934, as amended, in connection with purchases
by the undersigned of American depository receipts of Internacionale de
Ceramica, S.A. de C.V. For that purpose, the undersigned hereby constitute
and appoint Jayhawk Capital Management, L.L.C., a Delaware limited liability
company, as their true and lawful agent and attorney-in-fact, with full power
and authority for and on behalf of the undersigned to prepare or cause to be
prepared, sign, file with the SEC and furnish to any other person all
certificates, instruments, agreements and documents necessary to comply with
section 13(d) and section 16(a) of the Securities Exchange Act of 1934, as
amended, in connection with said purchases, and to do and perform every act
necessary and proper to be done incident to the exercise of the foregoing
power, as fully as the undersigned might or could do if personally present.
DATED: November 19, 1996.
Jayhawk Capital Management, L.L.C. Jayhawk Investments, L.P.
By: /s/ Kent C. McCarthy By: Jayhawk Capital Management,
Kent C. McCarthy, Manager L.L.C.
By: /s/ Kent C. McCarthy
Kent C. McCarthy
/s/ Kent C. McCarthy Manager
Kent C. McCarthy
Jayhawk Institutional Partners,
L.P.
By: Jayhawk Capital Management,
L.L.C.
By: /s/ Kent C. McCarthy
Kent C. McCarthy
Manager
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