U.S. SECURITIES AND EXCHANGE COMMISSION
                      Washington, DC  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):

                       September 21, 2001

                 Commission File Number: 0-29933



                  TRANSAMERICAN HOLDINGS, INC.
      ----------------------------------------------------
         (Name of Small Business Issuer in its Charter)


Nevada, U.S.A.                                         77-0434471
(State or other Jurisdiction                        (IRS Employer
of Incorporation or Organization)             Identification No.)


               9601 Wilshire Boulevard, Suite 620,
                 Beverly Hills, California 90210
            (Address of principal executive offices)


                         (310) 271-4159
                   (Issuer's telephone number)



ITEM 2.   ACQUISITION OR DISPOSITION OF ASSETS.

       On   September  21,  2001,  TransAmerican  Holdings,  Inc.
("TransAmerican"  or  the "Company") rescinded  the  transactions
contemplated  by the Agreement and Plan of Reorganization,  dated
as  of  May  17, 2001 (the "Agreement"), among itself,  Certified
Satellite  Installers, Inc. ("CSI") and certain  shareholders  of
CSI.   Our  rescission of the CSI acquisition transaction,  which
was  initially reported on a Form 8-K filed July 16,  2001,  will
result  in  the divestiture of CSI from TransAmerican,  effective
September 21, 2001.

      As  part  of  the  agreement to rescind,  CSI  and  Jay  M.
Avenatti,  President  of  CSI, have executed  a  Promissory  Note
payable to TransAmerican in an amount representing the sum  total
of all funds advanced thusfar by TransAmerican to CSI pursuant to
the intended acquisition.  In addition to Jay Avenatti's personal
guarantee  of  the  Note,  the Note is  also  collateralized  and
secured  by  all of the assets of CSI, both present  and  future,
including  its accounts receivable, inventory and equipment.   In
addition,  all  shares of TransAmerican Common Stock  due  to  be
issued pursuant to the Agreement have been and continue to be  in
our possession, and due to the rescission of the CSI transaction,
these shares will not be distributed to the CSI shareholders, but
rather will be either cancelled or retained as treasury stock.



                           SIGNATURES

     In accordance with Section 12 of the Securities Exchange Act
of 1934, the Registrant has caused this registration statement to
be  signed  on  its  behalf  by the undersigned,  thereunto  duly
authorized.


                  TRANSAMERICAN HOLDINGS, INC.


Date: September 24, 2001           By: /s/ Najib E. Choufani
                                      -------------------------
                                           Najib E. Choufani
                                           Chairman and CEO