SELLS ARTHUR SANDERSONWest Point-Pepperell Inc. sold its U.K. unit, Arthur Sanderson and Sons Ltd., to Gamma Holding N.V. for about $96.5 million.
The New York textile manufacturer has been selling assets to raise cash to pay off a $1.04 billion bridge loan associated with its buy-out by Farley Inc. last year.
Arthur Sanderson manufactures fabrics for household use. Gamma Holding is the largest Dutch textile group.
VOLVO TO SELL ASSETS
TO FUND RENAULT DEAL
STOCKHOLM, Sweden - Swedish carmaker Volvo AB said Tuesday it plans to sell up to 5 billion kronor ($820 million) of assets to fund its link-up with the state-owned French group Regie Nationale des Usines Renault.
Hans Renstrom, a Volvo spokesman, said the automaker probably would sell part of its stock portfolio, which includes investment companies such as AB Custos and Investment AB Cardo.
The total value of the company's stock portfolio was estimated at 12.5 billion kronor ($2.4 billion) at the end of 1989.
Volvo and Renault announced in February they would swap and buy stock in each other to share research and development costs. The link-up would make the two firms the world's biggest maker of heavy trucks, Europe's largest producer of buses and one of the world's largest manufacturers of cars.
FTC SEEKS MORE DATA
ON BID FOR COBE LABS
NEW YORK - Medical supply maker Gambro AB of Sweden said the U.S. Federal Trade Commission has asked for more information relating to its $37-a- share bid for Denver-based Cobe Laboratories, a medical specialty company.
Gambro said Monday the FTC is seeking the data under the Hart-Scott- Rodino Antitrust Act.
The company said that it may have to extend the tender, which is scheduled to expire April 18.