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): December 15, 1995
ZAPATA CORPORATION
(Exact name of registrant as specified in its charter)
Delaware I-4219 C-74-1339132
(State of other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
1717 St. James Place, Suite 500
Houston, Texas 77056
(Address of principal executive offices and zip code)
Registrant's telephone number, including area code: (713) 940-6100
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
On December 15, 1995, Zapata Corporation, a Delaware corporation (the
"Company"), closed the previously announced sale of its natural gas compression
business conducted by its two wholly subsidiaries, Energy Industries, Inc. and
Zapata Energy Industries, L.P. (collectively, "Energy Industries"), to
Weatherford Enterra, Inc. ("Weatherford Enterra"). The consideration received
by the Company in connection with the sale was approximately $131 million in
cash and the assumption of certain current liabilities of Energy Industries by
Weatherford Enterra. The cash portion of the consideration represented a
purchase price of $130 million, as adjusted by a closing date net asset
adjustment provided for in the purchase agreement relating to the sale, and is
subject to final post-closing adjustments. The sale was approved by the
Company's stockholders on December 15, 1995.
A copy of the press release dated December 18, 1995 issued by the Company
and Weatherford Enterra relating to the closing of the sale is attached as
Exhibit 99 hereto and is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(b) PRO FORMA FINANCIAL INFORMATION
The financial information set forth in "Unaudited Pro Forma Consolidated
Financial Statements" is incorporated by reference from pages 20 through 25
of the Company's Proxy Statement dated November 13, 1995.
(c) EXHIBITS.
99 Press Release dated December 18, 1995.
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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.
ZAPATA CORPORATION
BY: /s/ Joseph L. von Rosenberg, III
-------------------------------------
Joseph L. von Rosenberg, III
Executive Vice President, General
Counsel and Secretary
Date: December 19, 1995
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