DEATHcare Stocks-Grim Reaper of Profits? Message Board

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Non-Tech : DEATHcare Stocks-Grim Reaper of Profits?

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To: HairyWho? who wrote (24)	11/17/1997 5:47:00 PM
From: HairyWho?	Read Replies (1) of 114

LWN Company Release (basically same story; a little cash-o-la) Funny, no mention of SRV in their press release: Loewen Completes Sale Of Minority Interest In Arbor Memorial Services Inc. VANCOUVER, Nov. 17 /CNW-PRN/ - The Loewen Group Inc. (NYSE, TSE, ME: LWN - news news) The Loewen Group Inc. announced today the completion of its agreement to sell its minority interest in Arbor Memorial Services Inc., an operator of funeral homes and cemeteries in Canada. The sale, announced August 11, 1997, had been subject to Canadian regulatory approval. As a result of the sale, the company has received gross proceeds of approximately US $69 million and will record a gain before taxes of approximately US $25 million in the fourth quarter of 1997. With corporate offices in Vancouver and Philadelphia, The Loewen Group Inc. is the second largest and fastest growing funeral home and cemetery operator in North America in terms of revenues and assets. The Company employs approximately 17,000 people and owns or operates some 1,000 funeral homes and over 420 cemeteries across the United States and Canada. Over 90 percent of the Company's revenue is derived from the United States.

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