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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
---------------------------
SECURITY CAPITAL GROUP INCORPORATED
(Name of Issuer)
CLASS A COMMON STOCK, PAR VALUE $0.01 PER SHARE 81413P105
(Title of class of securities) (CUSIP number)
NANCY E. BARTON, ESQ.
GENERAL ELECTRIC CAPITAL CORPORATION
260 LONG RIDGE ROAD
STAMFORD, CONNECTICUT 06927
(203) 357-4000
(Name, address and telephone number of person authorized
to receive notices and communications)
WITH A COPY TO:
RAYMOND O. GIETZ, ESQ.
WEIL, GOTSHAL & MANGES LLP
767 FIFTH AVENUE
NEW YORK, NEW YORK 10153
MARCH 8, 2002
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box
[ ].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purposes of Section 18 of the Securities Exchange Act of
1934 (the "Act") or otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act.
(However, see the Notes.)
(Continued on following pages)
(Page 1 of 9 pages)
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CUSIP number 81413P105 13D Page 2 of 9 Pages
--------------------------------- ---------------------------------------------- ----------------------------------
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1 NAME OF REPORTING PERSON: EB ACQUISITION CORP.
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
-------------- --------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
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3 SEC USE ONLY
-------------- ----------------------------------- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS: NOT APPLICABLE
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
-------------- --------------------------------------------------------- ----------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: MARYLAND
------------------------- -------- ----------------------------------------------------- ------------------------------------------
NUMBER OF 7 SOLE VOTING POWER:
SHARES
-------- ----------------------------------------------------- ------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 97,672.112 SHARES OF CLASS A COMMON STOCK
OWNED BY (SEE ITEM 5)
-------- ----------------------------------------------------- ------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING
-------- ----------------------------------------------------- ------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 97,672.112 SHARES OF CLASS A COMMON STOCK
(SEE ITEM 5)
-------------- ------------------------------------------------------------------------- ------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 97,672.112 SHARES OF CLASS A COMMON STOCK
(SEE ITEM 5)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
-------------- --------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 11.07%
(SEE ITEM 5)
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14 TYPE OF REPORTING PERSON: CO
-------------- --------------------------------------------------------- ----------------------------------------------------------
2
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CUSIP number 81413P105 13D Page 3 of 9 Pages
--------------------------------- ---------------------------------------------- ----------------------------------
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1 NAME OF REPORTING PERSON: GE CAPITAL INTERNATIONAL HOLDINGS CORPORATION
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: NOT APPLICABLE
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
-------------- --------------------------------------------------------- ----------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE
------------------------- -------- ----------------------------------------------------- ------------------------------------------
NUMBER OF 7 SOLE VOTING POWER:
SHARES
-------- ----------------------------------------------------- ------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 97,672.112 SHARES OF CLASS A COMMON STOCK
OWNED BY (SEE ITEM 5)
-------- ----------------------------------------------------- ------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING
-------- ----------------------------------------------------- ------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 97,672.112 SHARES OF CLASS A COMMON STOCK
(SEE ITEM 5)
-------------- ------------------------------------------------------------------------- ------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 97,672.112 SHARES OF CLASS A COMMON STOCK
(SEE ITEM 5)
-------------- --------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
-------------- --------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 11.07%
(SEE ITEM 5)
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14 TYPE OF REPORTING PERSON: CO
-------------- --------------------------------------------------------- ----------------------------------------------------------
3
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CUSIP number 81413P105 13D Page 4 of 9 Pages
--------------------------------- ---------------------------------------------- ----------------------------------
-------------- --------------------------------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS: GENERAL ELECTRIC CAPITAL CORPORATION
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
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3 SEC USE ONLY
-------------- ----------------------------------- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS: NOT APPLICABLE
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
-------------- --------------------------------------------------------- ----------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE
------------------------- -------- ----------------------------------------------------- ------------------------------------------
NUMBER OF 7 SOLE VOTING POWER:
SHARES
-------- ----------------------------------------------------- ------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 97,672.112 SHARES OF CLASS A COMMON STOCK
OWNED BY (SEE ITEM 5)
-------- ----------------------------------------------------- ------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING
-------- ----------------------------------------------------- ------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 97,672.112 SHARES OF CLASS A COMMON STOCK
(SEE ITEM 5)
-------------- ------------------------------------------------------------------------- ------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 97,672.112 SHARES OF CLASS A COMMON STOCK
(SEE ITEM 5)
-------------- --------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
-------------- --------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 11.07%
(SEE ITEM 5)
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14 TYPE OF REPORTING PERSON: CO
-------------- --------------------------------------------------------- ----------------------------------------------------------
4
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CUSIP number 81413P105 13D Page 5 of 9 Pages
--------------------------------- ---------------------------------------------- ----------------------------------
-------------- --------------------------------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS: GENERAL ELECTRIC CAPITAL SERVICES, INC.
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS:
-------------- --------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
-------------- --------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
-------------- ----------------------------------- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS: NOT APPLICABLE
-------------- --------------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
-------------- --------------------------------------------------------- ----------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE
------------------------- -------- ----------------------------------------------------- ------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
-------- ----------------------------------------------------- ------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: DISCLAIMED (SEE 11 BELOW)
OWNED BY
-------- ----------------------------------------------------- ------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
-------- ----------------------------------------------------- ------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: DISCLAIMED (SEE 11 BELOW)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: BENEFICIAL OWNERSHIP OF ALL SHARES
DISCLAIMED BY GENERAL ELECTRIC CAPITAL
SERVICES, INC.
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
-------------- --------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): NOT APPLICABLE
(SEE 11 ABOVE)
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14 TYPE OF REPORTING PERSON: CO
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5
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CUSIP number 81413P105 13D Page 6 of 9 Pages
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1 NAMES OF REPORTING PERSONS: GENERAL ELECTRIC COMPANY
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [ ]
-------------- --------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
-------------- ----------------------------------- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS: NOT APPLICABLE
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
-------------- --------------------------------------------------------- ----------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: NEW YORK
------------------------- -------- ----------------------------------------------------- ------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
-------- ----------------------------------------------------- ------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: DISCLAIMED (SEE 11 BELOW)
OWNED BY
-------- ----------------------------------------------------- ------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
-------- ----------------------------------------------------- ------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: DISCLAIMED (SEE 11 BELOW)
-------------- ------------------------------------------------------------------------- ------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: BENEFICIAL OWNERSHIP OF ALL SHARES
DISCLAIMED BY GENERAL ELECTRIC COMPANY
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
-------------- --------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): NOT APPLICABLE
(SEE 11 ABOVE)
-------------- --------------------------------------------------------- ----------------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
-------------- --------------------------------------------------------- ----------------------------------------------------------
6
This Amendment No. 1 ("Amendment No. 1") amends the Statement on
Schedule 13D (the "Schedule 13D") filed on December 26, 2001, by and on behalf
of EB Acquisition Corp., a Maryland corporation ("EB"), GE Capital International
Holdings Corporation, a Delaware corporation ("GE Holdings"), General Electric
Capital Corporation, a Delaware corporation ("GE Capital"), General Electric
Capital Services, Inc., a Delaware corporation ("GECS"), and General Electric
Company, a New York corporation ("GE", and collectively with GE Capital, EB, GE
Holdings and GECS, the "Reporting Persons") with respect to their ownership of
the shares of Class A Common Stock, par value $0.01 per share (the "Class A
Shares"), of Security Capital Group Incorporated, a Maryland corporation (the
"Company"). Capitalized terms used herein and not defined herein have the
meanings ascribed thereto in the Schedule 13D, as amended
ITEM 4. PURPOSE OF TRANSACTION.
On December 14, 2001, the Company, GE Capital and EB entered into the
Merger Agreement, a copy of which is attached as Exhibit 1 to the Schedule 13D
and is hereby incorporated herein by reference. Pursuant to the Merger Agreement
and subject to the terms and conditions contained therein, EB will merge with
and into the Company (the "Merger"), with the Company continuing as the
surviving corporation. As a result of the Merger, the Company will become an
indirect wholly owned subsidiary of GE Capital.
Under the Merger Agreement, GE Capital may elect (no later than the
15th day before the Group Stockholder Meeting) to include the common shares of
beneficial interest of ProLogis Trust ("ProLogis Common Stock") owned by the
Company as part of the Class A Consideration and the Class B Consideration. If
GE Capital so elects, the holders of Class B Shares would receive $26 in cash
per Class B Share less the value of the ProLogis Common Stock received by them
(with the ProLogis Common Stock valued for such purposes based upon the average
closing prices on the ten (10) consecutive full trading days ending on the day
immediately preceding the two (2) full trading days before the Group Stockholder
Meeting), and the holders of the Class A Shares would receive 50 times such
amount. GE Capital also has the right to revoke its election to include the
ProLogis Common Stock as part of the Class A Consideration and Class B
Consideration at any time before the tenth day prior to the Group Stockholder
Meeting, provided however that no such revocation may be made if such revocation
would make it reasonably necessary, based upon the advice of the Company's
independent counsel, to delay the Group Stockholder Meeting.
At a meeting of the Executive Committee of GE Capital's Board of
Directors held on March 8, 2002, the Executive Committee approved a proposed
plan with respect to the use of shares of ProLogis Common Stock beneficially
owned by the Company as part of the merger consideration for the Merger. GE
Capital's current plan is to cause the Company to distribute to the Company's
stockholders as part of the Class A Consideration and the Class B Consideration
approximately 32.8 million shares of ProLogis Common Stock currently held by the
Company (or approximately 18.75% of the outstanding shares of ProLogis Common
Stock), with the Company retaining approximately 17.1 million of the shares of
ProLogis Common Stock currently held by the Company (or approximately 9.8% of
the outstanding shares of ProLogis Common Stock). Notwithstanding such approval
7
by the Executive Committee of GE Capital's Board of Directors on March 8, 2002,
GE Capital has not made a formal election under the Merger Agreement with
respect to the shares of ProLogis Common Stock currently held by the Company,
intends to continue to evaluate its alternatives, and may change its current
plans. Accordingly, the Company's stockholders should be aware that the final
decision by GE Capital whether or not to substitute some or all of the shares of
ProLogis Common Stock currently held by the Company for a portion of the Class A
Consideration or the Class B Consideration may be different than GE Capital's
current plans as disclosed in this Amendment No. 1. GE Capital's final decision
will be communicated to the Company's stockholders by means of a press release
no later than the 15th day prior to the date of the Group Stockholder Meeting.
In addition, GE Capital currently is in negotiations with the holder
of the Series B Cumulative Convertible Redeemable Voting Preferred Stock, par
value $.01 per share (the "Series B Preferred Stock"), of the Company, regarding
a possible purchase by GE Capital of all of the issued and outstanding shares of
Series B Preferred Stock at a per share price of $1,000, together with all
accrued and unpaid dividends thereon up to the date of purchase. Although such
negotiations have not concluded, GE Capital expects to enter into an agreement
with such holder that would provide for the purchase of the shares of Series B
Preferred Stock immediately following the closing of the Merger.
Except as set forth above, the response of the Reporting Persons to
this Item 4 as previously disclosed in the Schedule 13D has not changed.
The description of the Merger Agreement set forth in this Amendment No. 1 is
qualified in its entirety by reference to such agreement, which is attached as
Exhibit No. 1 to the Schedule 13D and is hereby incorporated herein by
reference.
[Signatures Appear on Following Page.]
8
SIGNATURES
After reasonable inquiry and to the best of their knowledge and
belief, the undersigned certify that the information set forth in this statement
is true, complete and correct.
Dated: March 11, 2002
GENERAL ELECTRIC COMPANY*
By: /s/ Nancy E. Barton
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Name: Nancy E. Barton
Title: Attorney-in-Fact
GENERAL ELECTRIC CAPITAL SERVICES, INC.
By: /s/ Nancy E. Barton
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Name: Nancy E. Barton
Title: Senior Vice President
GENERAL ELECTRIC CAPITAL CORPORATION
By: /s/ Nancy E. Barton
------------------------------------------------
Name: Nancy E. Barton
Title: Senior Vice President
GE CAPITAL INTERNATIONAL HOLDINGS CORPORATION
By: /s/ Sarah Graber
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Name: Sarah Graber
Title: Vice President and Assistant Secretary
EB ACQUISITION CORP.
By: /s/ Kevin Korsh
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Name: Kevin Korsh
Title: Assistant Secretary
---------------------
* Power of attorney, dated as of February 22, 2000, by General Electric Company
is hereby incorporated by reference to Schedule 13D for Luxtec Corporation,
filed March 12, 2001 by GE Capital Equity Investments, Inc.
9