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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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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 8, 1997
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DART GROUP CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 0-1946 53-0242973
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
3300 75th Avenue, Landover, Maryland 20785
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (301) 226-1200
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(Former name or former address, if changed since last report).
No exhibits are annexed to this Current Report on Form 8-K.
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Item 2. Acquisition or Disposition of Assets
On December 8, 1997, Trak Auto Corporation ("Trak"), a majority
owned subsidiary of Dart Group Corporation ("Dart"), and certain of Trak's
affiliates closed the transactions contemplated in the Purchase Agreement (the
"Purchase Agreement") with CSK Auto, Inc. ("CSK") pursuant to which Trak had
agreed to convey to CSK the assets (including Inventory, Store Fixtures and the
assignment of store leases (as described in the Purchase Agreement)) relating
to the business (the "Business") conducted by Trak in its retail discount
auto parts stores in the Los Angeles, California metropolitan area
(the "Transaction"). Trak Auto and CSK closed the Transaction, subject to
subsequent adjustment, for an aggregate purchase price of approximately $33.6
million. Ninety percent (90%) of the aggregate purchase price, or $30.2
million, was paid in cash at closing. The remaining ten percent (10%) will be
paid pending finalization of any purchase price adjustments and audits. Trak
retains all existing liabilities related to the assets and Business.
Reference is made to (i) the Current Report on Form 8-K filed by
Trak concurrently herewith for the pro-forma financial statements reflecting the
closing of the transactions contemplated in the Purchase Agreement, and (ii) the
Current Report on Form 8-K filed by Trak on October 22, 1997 for a fuller
description of the Transaction and a copy of the Purchase Agreement which is
attached as an Exhibit thereto.
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.
DART GROUP CORPORATION
By: /s/ Mark A. Flint
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Mark A. Flint
Senior Vice President and
Chief Financial Officer
Date: December 23, 1997
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