Amadeusz Juskowiak

Leucadia luk has 72 pct of minstar mnst

Leucadia National Corp said two of its subsidiaries have acquired a 72 pct stake in Minstar Inc a corporation controlled by corporate raider Irwin Jacobs and used by him in his forays to acquire stock in companies

In a filing with the Securities and Exchange Commission Leucadia said its LNC Investments Inc a Newark Del investment firm and Charter National Life Insurance Co a St Louis joint stock life insurance company bought their combined 1261000 Minstar common shares for investment purposes only

The Leucadia subsidiaries had held an 110 pct stake in Minstar but cut to 18 pct or 313200 shares last July

Since July Leucadia said its companies have bought 947800 Minstar common shares for a total of 247 mln dlrs

Leucadia said it bought the Minstar stake to obtain an equity position in the company and has no intention of seeking control of it

Nearly half of Leucadias common stock is owned by TLC Associates a Salt Lake City Utah general partnership whose partners include the chairman and president of Leucadia and other investors

Reuter