Hilton considers auction blockHilton Hotels Corp. said...

BUSINESS DIGEST

November 18, 1994

Hilton considers auction block

Hilton Hotels Corp. said yesterday it is exploring the possible sale of the hotel and casino company, in a move that analysts said would value the firm at more than $4.8 billion.

The upscale hotel chain's stock shot up $10, to $67.875, on the New York Stock Exchange with more than 1.5 million shares changing hands. Hilton, one of the world's largest hoteliers, said it hired Wall Street firm Smith Barney as financial adviser to study strategic options.

Aegon enters Mexican market

Aegon N. V. said yesterday it had signed an agreement with a Mexican company to enter the insurance market in that nation.

Aegon, a Dutch insurance holding company that has its North American headquarters in Baltimore, said it has agreed to purchase 49 percent of Seguros Banamex, the insurance subsidiary of Grupo Financiero Banamex-Accival S. A. de C. V., for $167 million. Aegon will also acquire $216.5 million in Banamex debt. After a definitive deal is reached, probably in early 1995, the new company would be named Seguros Banamex AEGON.

Comsat's role in venture altered

The Federal Communications Commission signaled yesterday that Bethesda-based Comsat Corp. would be barred from participating as the exclusive U.S. representative in a global hand-held wireless telephone venture.

In a partial victory for Motorola Inc., the FCC said it did not have the power to extend Comsat's exclusive rights as the designated signatory to the Inmarsat treaty to include the Inmarsat-P project, a spinoff venture for the global satellite communications organization

Comsat won a round, however, when the FCC refused to bar Comsat from the Inmarsat-P project entirely, putting off a decision on whether Inmarsat-P was a truly separate venture.

Browning-Ferris increases offer

Browning-Ferris Industries Inc. yesterday increased its hostile offer for Britain's Attwoods PLC by 10 percent, valuing the company at 390.7 million pounds, or $625.1 million, and told shareholders to take it or leave it.

Attwoods Chief Executive Ken Foreman called the offer inadequate, reiterating his accusation that Houston-based BFI is plotting "to get Attwoods on the cheap."

NationsBank spokesman quits

Daniel G. Finney, vice president for communications at NationsBank Corp. in Baltimore, yesterday said he was leaving after 17 years as chief spokesman for the company and its predecessor, MNC Financial Inc., the parent of Maryland National Bank. Mr. Finney, 42, said he is leaving to look for "fresh new opportunities."

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