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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: May 2, 1996
AMERICAN PRESIDENT COMPANIES, LTD.
(Exact name of registrant as specified in its charter)
Delaware 1-8544 94-2911022
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
1111 Broadway, Oakland, California 94607
(Address of principal executive offices) (Zip Code)
Registrant's telephone number: (510) 272-8000
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AMERICAN PRESIDENT COMPANIES, LTD. AND SUBSIDIARIES
Item 2. Acquisition or Disposition of Assets
American President Companies, Ltd. (the "company"), APL
Land Transport Services, Inc. ("APLLTS"), a wholly owned
subsidiary of the company, and Hub Group, Inc. (OHubO) entered
into an agreement dated as of May 2, 1996 to sell to Hub the
rights to service certain domestic intermodal customers of
APLLTS for approximately $8 million in cash and notes. The
purchase price is subject to downward adjustment based upon the
results of a financial audit being performed by the companyOs
independent public accountants. Subject to such adjustment, if
any, the company will realize a pretax gain of approximately $7
million. In addition, APLLTS and Hub entered into a 10-year
agreement whereby APLLTS will provide stacktrain services to
Hub. Revenues related to the servicing rights sold to Hub
represented approximately 6% of the company's consolidated
revenues in 1995.
Item 7. Financial Statements and Exhibits
(b) (1)Pending the results of the audit referred to in Item 2
above, the company has not yet determined whether the
servicing rights sold to Hub constitute a "business"
that is "significant" with respect to the company within
the meaning of Instruction 4 to Item 2 of Form 8K and
Rule 11-01 of Regulation S-X. Pro forma financial
information, if required, will be filed by amendment to
this Form 8-K as soon as practicable, but not later than
60 days after the date of this report.
(c) Exhibits
Exhibit No. Description of Document
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2.1 Purchase Agreement as of May 2, 1996, by and among Hub
Group, Inc., American President Companies, Ltd. and APL
Land Transport Services, Inc.*
* Application to be filed with the Securities and Exchange
Commission, pursuant to Exchange Act Rule 24b-2, for
confidential treatment of certain portions of this
exhibit.
AMERICAN PRESIDENT COMPANIES, LTD. AND SUBSIDIARIES
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, thereunto duly
authorized.
AMERICAN PRESIDENT COMPANIES, LTD.
Dated: May 17, 1996 By /s/ Timothy J. Windle
Timothy J. Windle
Assistant Secretary