SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 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): April 17, 1998
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CSX CORPORATION
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(Exact name of registrant as specified in its charter)
Virginia
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(State or other jurisdiction of
incorporation or organization)
2-63273 62-1051971
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(Commission (I.R.S. Employer
File No.) Identification No.)
One James Center, 901 East Cary Street, Richmond, VA 23219
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(804) 782-1400
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ITEM 5. OTHER EVENTS
On April 20, 1998, CSX Corporation (the "Company") announced
reaching agreement on a transaction in which it will convey its wholly-owned
barge subsidiary, American Commercial Lines LLC ("ACL"), to a venture formed
with Vectura Group, Inc. ("Vectura") for approximately $695 million in cash and
$155 million in securities issued by the venture, including a 34% interest in
the venture. As part of the transaction National Marine, Inc., a wholly-owned
subsidiary of Vectura, will be combined with ACL. The resulting venture will
have total assets of approximately $1 billion.
The Company's press release announcing the transaction is
included as Exhibit 99.1 hereto and is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
The following exhibits are filed as a part of this report.
10.1 Recapitilization Agreement, dated as of April 17,
1998, by and among CSX Corporation, Vectura Group,
Inc., American Commercial Lines Holdings LLC, American
Commercial Lines LLC, and National Marine, Inc.
99.1 Press release issued by the Company on April 20, 1998.
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Signature
Pursuant to the requirements of the Securities and Exchange Act of
1934, the registrant has caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
CSX CORPORATION
By: /s/ GREGORY R. WEBER
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Gregory R. Weber
Vice President and Treasurer
Date: April 22, 1998
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EXHIBIT LIST
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Exhibit Description
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10.1 Recapitilization Agreement, dated as of April 17, 1998, by and
among CSX Corporation, Vectura Group, Inc., American Commercial
Lines Holdings LLC, American Commercial Lines LLC, and National
Marine, Inc.
99.1 Press release issued by the Company on April 20, 1998.
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