SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
F O R M 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) June 12, 1997
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BANKERS TRUST NEW YORK 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)
1-5920 13-6180473
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(Commission file number) (IRS employer identification no.)
130 LIBERTY STREET, NEW YORK, NEW YORK 10006
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code (212) 250-2500
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Item 5. Other Events
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Bankers Trust New York Corporation announced that it has entered
into a strategic alliance with Cruz Blanca Prevision y Seguros
S.A. and Banmedica S.A. through which the two firms will each
purchase a 25% stake in a Bankers Trust holding company whose
principal asset is Consorcio Nacional de Seguros S.A., the
largest life insurance and annuity firm in Chile. Each of the
purchasers will pay Bankers Trust approximately US$109 million.
As a result of the transaction, which is scheduled to be
completed in two stages over the next six months, Bankers Trust
expects to recognize a total pre-tax gain on sale of
approximately $50 million. Approximately one half of this amount
is expected to be recognized in the second quarter, and the
balance is expected to be recorded in the second half of 1997.
In an unrelated matter, the Thai stock market has continued its
steep decline. During the second quarter, Bankers Trust intends
to recognize a decline in the value of its unconsolidated
investment in a Thai affiliate. The combined effect of the
Consorcio gain on sale and the valuation adjustment is not
expected to materially affect the corporation's results for the
second quarter.
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SIGNATURES
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.
BANKERS TRUST NEW YORK CORPORATION
By /s/ James T. Byrne, Jr.
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James T. Byrne, Jr.
Secretary
June 13, 1997
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Bankers Trust New York Corporation
130 Liberty Street
New York, New York 10006
Gordon S. Calder, Jr.
Assistant Secretary
June 13, 1997
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Dear Sirs:
Accompanying this letter is Bankers Trust New York
Corporation's report on Form 8-K dated June 12, 1997 (the "Form
8-K"). The Form 8-K is being filed electronically through the
EDGAR System.
If there are any questions or comments in connection with
the enclosed filing, please contact the undersigned collect at
212-250-4857.
Very truly yours,
By: /s/GORDON S. CALDER, JR.
Name: Gordon S. Calder, Jr.
Title: Assistant Secretary
