Shamrock Sells Remaining Stake in Enterra Corp.

Shamrock Holdings Inc., as expected, sold its remaining 12% stake in Enterra Corp., an oil field-services concern in Houston.

In a filing with the Securities and Exchange Commission, Shamrock said it sold the 1.9 million shares for an undisclosed price to institutional investors. Shamrock, a Burbank investment firm controlled by Roy Disney, had announced last month that it planned to sell the shares.

Shamrock originally accumulated 24% of Enterra in 1986 when Enterra was struggling. Shamrock President Stanley P. Gold became Enterra’s chairman, a post he still holds, and brought in a new management team. Since early 1988, Enterra’s earnings and stock price have been on the rise.

The Enterra investment was one of several Shamrock made in distressed companies that later paid off. Another was Central Soya Co., which Shamrock bought in 1985 for $350 million. Shamrock sold the Indiana food-processing concern two years later for a $150-million profit.