OTHER NEWS - Aug. 16, 1996

KKR to Buy Interest in Spalding & Evenflo: Buyout group Kohlberg Kravis Roberts & Co. said it agreed to acquire a majority interest in sporting goods and juvenile-products maker Spalding & Evenflo Cos. from Venezuela-based investment firm Cisneros Group, and it praised the growth potential for Spalding & Evenflo products. Terms of the transaction weren’t disclosed, but the New York-based investment firm said Cisneros and Spalding & Evenflo’s management will have a minority interest in Spalding & Evenflo. Spalding is known for sports equipment, Evenflo for baby bottles. Spalding & Evenflo, which is expected to have revenue of more than $1 billion this year, said in April that Cisneros was seeking to sell the company to expand its international media and telecommunications businesses. Cisneros comprises more than 50 companies in 39 countries. Tampa, Fla.-based Spalding & Evenflo is the parent of Spalding Sports Worldwide and Evenflo Co.