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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of Earliest Event Reported): April 30, 1997
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LEUCADIA NATIONAL CORPORATION
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(Exact Name of Registrant as Specified in its Charter)
NEW YORK
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(State or Other Jurisdiction of Incorporation)
1-5721 13-2615557
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(Commission File Number) (I.R.S. Employer Identification No.)
315 PARK AVENUE SOUTH, NEW YORK, N.Y. 10010
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(Address of Principal Executive Offices) (Zip Code)
(212) 460-1900
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(Registrant's Telephone Number, Including Area Code)
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
The information contained in the press release issued by Leucadia
National Corporation, attached hereto as Exhibit 99.1, is incorporated herein by
reference.
Item 7. Financial Statements, Pro Forma Financial Statements
and Exhibits
(c) Exhibits
99.1 Press release of Leucadia National Corporation dated April
30, 1997.
1
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
LEUCADIA NATIONAL CORPORATION
By: /s/ Joseph A. Orlando
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Joseph A. Orlando
Vice President and
Chief Fianancial Officer
Date: April 30, 1997
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EXHIBIT INDEX
Item No.
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99.1 Press release of Leucadia National Corporation
dated April 30, 1997.
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EXHIBIT 99.1
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LEUCADIA NATIONAL CORPORATION
315 PARK AVENUE SOUTH
NEW YORK, NEW YORK 10010
212-460-1900
April 30, 1997
FOR IMMEDIATE RELEASE
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Contact: Ruth Klindtworth (212) 460-1900
LEUCADIA NATIONAL CORPORATION ANNOUNCES AGREEMENT FOR SALE OF
COLONIAL PENN LIFE INSURANCE COMPANY TO CONSECO, INC.
New York, New York...Leucadia National Corporation (NYSE and PSE: "LUK")
today announced that it has signed an agreement to sell its subsidiaries,
Colonial Penn Life Insurance Company and Providential Life Insurance Company and
certain related assets to Conseco, Inc. The purchase price is $460 million
payable in cash and notes. These companies are principally engaged in the sale
of "graded benefit life" insurance policies through direct marketing and
agent-sold Medicare supplement insurance. The company's variable annuity
business, conducted through Charter National Life Insurance Company and
Intramerica Life Insurance Company is not being sold.
The transaction is subject to regulatory approvals and customary closing
conditions and a closing is anticipated during the third quarter of 1997.
Leucadia National Corporation will report a pre-tax gain of
approximately $300 million upon consummation of the transaction. For calendar
year 1996, the operations being sold accounted for revenues of approximately
$230 million and pre-tax earnings of approximately $48 million.
