OTHER NEWS - Nov. 13, 1991
From Times Staff and Wire Reports
Travelers to Sell Dillon Read at a Loss: The Travelers Corp. announced that it will sell Dillon, Read & Co., the 161-year-old investment bank, to the firm’s management and the British merchant bank Barings. Travelers, the insurance giant, would receive $122 million from the proposed sale, which is subject to regulatory approval. It bought Dillon Read for $157.6 million in 1986. The company said it wants to focus on its core insurance, managed care and investment businesses.
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