To. Mr. P. Sheehy
Imasco
The main points to &rise at the CPC meeting to discuss the Imasco
1989-1993 Plan were:-
Imseco - Best Plan yet received from Imasco.
- Debt still too high. but potential divestments (Grisanti,
People's. possibly Genstar Development and part of FYM - no
sale of CT shares expected In 1989).
- 4kim to raise dividends in line with BPS (not as per Plan).
- Personnel changes: Mercier - Imasco Vice-Chairman; Bennett
Financial Services; now VP Corporate Development.
Imperial - Continued growth in share and earnings.
- Earnings gap to be closed by higher prices and increased
share.
Shoppers - Continued good performance. tzlhM
- Scope for further 100-150 stores through acquiring
independents. mr*104
UCS - Strategic value to Imperial (especially given advertising
res trict ions) - oh"
- Not yet decided on new name. evr*4
People's - Imasco considering disposal of total business.
Imasco USA - Cash characteristics improved by sale and leaseback.
- Crisanti ts to be divested. Imasco considering selling part
of Pr,11 (but retaining control). ur*11.4
- Prather will become CZO of Imasco USA. C*"
- Considering moving HQ (possibly to Raleigh). 4*0-1
Inasco Enterprises/
CT - 1938 EPS of Cr c.C$2.00 rather than Plan C$1.82-
- Improving dialogue between Imasco and CT. elr"
- No immediate plans co extend CT (but possible acquisition in
Quebec in medium term).
- Slight easing expected when Financial Services legislation
is re-introduced.
- Intention co divest Genstar Development Co. and Venture C**4
Capital when opportunity occurs.
r%j
G.J. Burgess co
re
Qn
C>
GJB/DJA
16th January 1989
BAT Industries document for Province of British Columbia 13 April 1999