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Non-Tech : ETFC Buy Back Program
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To: BOJO who wrote (6)11/12/1999 11:47:00 AM
From: micky  Read Replies (2) of 11
 
From what i understand, they were formerly part of the Texmaco Group, one of the largest Indo based conglomerates. About this time last year, they were sold into a shell. Looking at their filings, the ties to Indonesia are apparant in the background of the office holders and major stock holders, although they now operate from London and are owned by a US holding company.
Texmaco, like several other multinational companies, is spinning off its holdings into US corporations to take advantage the high liquidity the US stock market offers. They own over 70 companies, and I understand that they plan additional spin-off of these into US companies.
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