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Service Corporation International Announces Purchase of Additional Shares in Arbor Memorial Services Inc.
HOUSTON, Nov. 17 /PRNewswire/ -- Service Corporation International (NYSE: SRV) (SCI), the world's largest funeral and cemetery company, announced today that its subsidiary, Service Corporation International (Canada) Limited, has completed the previously announced acquisition of 713,825 Class A Voting Shares and 2,213,152 Class B Non-Voting Shares of Arbor Memorial Services Inc. ("Arbor"), of Toronto, Canada from The Loewen Group Inc. SCI now owns 960,969 Class A Voting Shares and 5,270,227 Class B Non-Voting Shares of Arbor. These shares represent approximately 38 percent of the Class A Voting Shares, 66 percent of the Class B Non-Voting Shares and 59% of the total shares of Arbor currently outstanding.
As of September 30, 1997, SCI affiliates operate 3,048 funeral service
locations, 376 cemeteries and 160 crematoria. SCI provides funeral and
cemetery services in North America, Europe and the Pacific Rim. SCI's stock
is traded on the New York Stock Exchange. The company's ticker symbol is SRV.