-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, D4ivcAIMy6ifNfZchSFCCjMlwSKTMtlQ7D4eVYKH7i3r87f4YUsyeNLT6XMwvzcH vM62DJ5ZCMX8n2+VZEBAQQ== /in/edgar/work/20000706/0000912057-00-030943/0000912057-00-030943.txt : 20000920 0000912057-00-030943.hdr.sgml : 20000920 ACCESSION NUMBER: 0000912057-00-030943 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20000706 GROUP MEMBERS: WHITE MOUNTAINS INSURANCE GROUP LTD GROUP MEMBERS: WHITE MOUNTAINS PROPERTIES (BARBADOS) SRL ("WMP") GROUP MEMBERS: WHITE MOUNTAINS SERVICES CORPORATION ("WMSC") SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: FINANCIAL SECURITY ASSURANCE HOLDINGS LTD/NY/ CENTRAL INDEX KEY: 0000913357 STANDARD INDUSTRIAL CLASSIFICATION: [6399 ] IRS NUMBER: 133261323 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-46241 FILM NUMBER: 668389 BUSINESS ADDRESS: STREET 1: C/O GENERAL COUNSEL STREET 2: 350 PARK AVE 13TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2128260100 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WHITE MOUNTAINS INSURANCE GROUP LTD CENTRAL INDEX KEY: 0000776867 STANDARD INDUSTRIAL CLASSIFICATION: [6331 ] IRS NUMBER: 942708455 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 80 SOUTH MAIN STREET CITY: HANOVER STATE: NH ZIP: 03755-2053 BUSINESS PHONE: 6036431567 MAIL ADDRESS: STREET 1: 80 SOUTH MAIN STREET CITY: HANOVER STATE: NH ZIP: 03755 FORMER COMPANY: FORMER CONFORMED NAME: WHITE MOUNTAINS INSURANCE GROUP INC DATE OF NAME CHANGE: 19990603 FORMER COMPANY: FORMER CONFORMED NAME: FUND AMERICAN ENTERPRISES HOLDINGS INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: FUND AMERICAN COMPANIES INC DATE OF NAME CHANGE: 19920701 SC 13D 1 sc13d.txt SCHEDULE 13D SCHEDULE 13D Under the Securities Exchange Act of 1934 (Final Amendment) FINANCIAL SECURITY ASSURANCE HOLDINGS LTD. (Name of Issuer) COMMON STOCK, PAR VALUE $.01 PER SHARE (Title of Class of Securities) 31769P 10 0 (CUSIP Number) Michael S. Paquette Senior Vice President and Controller White Mountains Insurance Group, Ltd. 80 South Main Street Hanover, NH 03755 (603) 640-2205 ----------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) JULY 5, 2000 (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(b)(3) or (4), check the following box __. Check the following box if a fee is being paid with this statement __. A fee is not required only if the reporting person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class. (See Rule 13d-7.) NOTE: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies are to be sent. CUSIP No. 31769P 10 0 13D Page 2 of 11 Pages ----------- --- --- - ------------------------------------------------------------------------------- (1) Name of Reporting Person. S.S. or I.R.S. Identification No. of Above Person White Mountains Insurance Group, Ltd. ("WMIG") 94-2708455 - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group (See Instructions) (b) / / - ------------------------------------------------------------------------------- (3) (SEC Use Only) - ------------------------------------------------------------------------------- (4) Source of Funds (See Instructions) WC - ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) - ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization Bermuda - ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Power Beneficially Owned 0 by Each Reporting ------------------------------------------------- Person With (8) Shared Voting Power 0 -------------------------------------------------- (9) Sole Dispositive Power 0 -------------------------------------------------- (10) Shared Dispositive Power 0 - ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person none - ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) - ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) - ------------------------------------------------------------------------------- (14) Type of Reporting Person (See Instructions) HC, CO - ------------------------------------------------------------------------------- 2 CUSIP No. 31769P 10 0 13D Page 3 of 11 Pages ----------- --- --- - ------------------------------------------------------------------------------- (1) Name of Reporting Person. S.S. or I.R.S. Identification No. of Above Person White Mountains Properties (Barbados) SRL ("WMP") 94-2708455 - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group (See Instructions) (b) / / - ------------------------------------------------------------------------------- (3) (SEC Use Only) - ------------------------------------------------------------------------------- (4) Source of Funds (See Instructions) WC - ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) - ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization Barbados - ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Power Beneficially Owned 0 by Each Reporting ------------------------------------------------- Person With (8) Shared Voting Power 0 -------------------------------------------------- (9) Sole Dispositive Power 0 -------------------------------------------------- (10) Shared Dispositive Power 0 - ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person none - ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) - ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) - ------------------------------------------------------------------------------- (14) Type of Reporting Person (See Instructions) HC, CO - ------------------------------------------------------------------------------- 3 CUSIP No. 31769P 10 0 13D Page 4 of 11 Pages ----------- --- --- - ------------------------------------------------------------------------------- (1) Name of Reporting Person. S.S. or I.R.S. Identification No. of Above Person White Mountains Services Corporation ("WMSC") 38-2011419 - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group (See Instructions) (b) / / - ------------------------------------------------------------------------------- (3) (SEC Use Only) - ------------------------------------------------------------------------------- (4) Source of Funds (See Instructions) WC - ------------------------------------------------------------------------------- (5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) - ------------------------------------------------------------------------------- (6) Citizenship or Place of Organization Delaware - ------------------------------------------------------------------------------- Number of Shares (7) Sole Voting Power Beneficially Owned 0 by Each Reporting ------------------------------------------------- Person With (8) Shared Voting Power 0 -------------------------------------------------- (9) Sole Dispositive Power 0 -------------------------------------------------- (10) Shared Dispositive Power 0 - ------------------------------------------------------------------------------- (11) Aggregate Amount Beneficially Owned by Each Reporting Person none - ------------------------------------------------------------------------------- (12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) - ------------------------------------------------------------------------------- (13) Percent of Class Represented by Amount in Row (11) - ------------------------------------------------------------------------------- (14) Type of Reporting Person (See Instructions) CO - ------------------------------------------------------------------------------- 4 ONLY ITEMS REPORTED IN THIS FINAL AMENDMENT TO SCHEDULE 13D ARE AMENDED FROM THE FILING ON SCHEDULE 13D DATED MAY 13, 1994, AS AMENDED BY AMENDMENT NO. 1 DATED SEPTEMBER 2, 1994, AMENDMENT NO. 2 DATED SEPTEMBER 14, 1994, AMENDMENT NO. 3 DATED JANUARY 17, 1995, AMENDMENT NO. 4 DATED NOVEMBER 13, 1995, AMENDMENT NO. 5 DATED JUNE 17, 1996, AMENDMENT NO. 6 DATED MAY 12, 1999, AMENDMENT NO. 7 DATED SEPTEMBER 2, 1999 AND AMENDMENT NO. 8 DATED DECEMBER 1, 1999 (AS SO AMENDED, THE "SCHEDULE 13D"), FILED WITH THE SECURITIES AND EXCHANGE COMMISSION BY WMIG, WITH RESPECT TO THE COMMON STOCK, PAR VALUE $.01 PER SHARE, OF FSA, A NEW YORK CORPORATION. ALL OTHER ITEMS REMAIN UNCHANGED. UNLESS OTHERWISE SPECIFIED, ALL DEFINED TERMS USED HEREIN HAVE THE MEANING PREVIOUSLY ASCRIBED TO THEM IN THE SCHEDULE 13D. ITEM 2. IDENTITY AND BACKGROUND. The persons filing this Final Amendment are WMIG (a Bermuda corporation), WMP (a Barbados Corporation) and WMSC (a Delaware corporation), collectively referred to herein as the "Reporting Persons". WMP and WMSC are each direct or indirect wholly-owned subsidiaries of WMIG. WMIG, WMP and WMSC are financial services holding companies. The principal executive offices of WMIG are located at 80 South Main Street, Hanover, New Hampshire 03755-2053. The principal business and office address of WMP is The Financial Services Centre, Bishop's Hill Court, St. Michael, Barbados, West Indies. The principal business and office address of WMSC is P.O. Box 2005, Farmington Hills, MI 48333-2005. 5 Information with respect to each executive officer and director of each of the Reporting Persons, including each such officer's and director's name, residence or business address, present principal occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted, and citizenship, is set forth in Schedule I attached to this Final Amendment, which Schedule I is incorporated herein by reference. None of the Reporting Persons nor, to the knowledge of the Reporting Persons, any executive officer or director of any of the Reporting Persons has, during the last five years, (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceedings was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. ITEM 4. PURPOSE OF TRANSACTION. On July 5, 2000 WMIG concluded the sale of its indirect, wholly-owned subsidiary, White Mountains Holdings, Inc. ("WMH") as well as 922,509 shares of FSA Common Stock owned by WMP to Dexia S.A. ("Dexia") for total proceeds of $620.4 million (the "Dexia Sale"). On July 5, 2000, WMH owned 6,020,807 shares of FSA Common Stock and 2,000,000 shares of FSA Preferred Stock. The transaction was consummated in connection with Dexia's merger with FSA in which all other holders of outstanding shares of FSA received $76.00 cash per share. As a result of the Dexia Sale, WMIG, WMP and WMSC no longer own any shares of FSA capital stock and no longer own WMH. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. (a) None. 6 (b) None. (c) On June 30, 2000, WMH, an indirect wholly-owned subsidiary of WMIG at that time, received a liquidating distribution from WMSC consisting of 6,020,807 shares of the Common Stock of FSA and 2,000,000 shares of the Preferred Stock of FSA, convertible at the option of the holder thereof into FSA Common Stock. There have been no other transactions by WMIG, WMP or WMSC, or to the knowledge of WMIG, WMP or WMSC, any of the persons listed on Schedule I attached hereto, in Common Stock effected during the past 60 days exclusive of the Dexia Sale. (d) None (e) Not Applicable 7 SIGNATURES After reasonable inquiry and to the best of the knowledge and belief of the undersigned, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: July 6, 2000 WHITE MOUNTAINS INSURANCE GROUP, LTD. BY: ----------------------------------------- Name: Michael S. Paquette Title: Senior Vice President and Controller WHITE MOUNTAINS PROPERTIES (BARBADOS) SRL BY: ----------------------------------------- Name: Kenneth F.G. Thomson Title: Secretary WHITE MOUNTAINS SERVICES CORPORATION BY: ----------------------------------------- Name: Michael S. Paquette Title: President 8 SCHEDULE I TO SCHEDULE 13D Following is a list of the directors and executive officers of White Mountains Insurance Group, Ltd. ("WMIG"), White Mountains Properties (Barbados) SRL ("WMP") and White Mountains Services Corporation ("WMSC") setting forth the business address and present principal occupation or employment (and the name, principal business and address of any corporation or organization in which such employment is conducted) of each such person. Each such person is a citizen of the USA except for Messrs. Douglas and Thomson who are citizens of Barbados, West Indies and Mr. Barrette who is a citizen of Canada.
NAME AND PRESENT PRINCIPAL BUSINESS ADDRESS OFFICE OCCUPATION OR EMPLOYMENT WMIG Raymond Barrette President and Director President and Director White Mountains Insurance Group, Ltd. 80 South Main Street Hanover, NH 03755 John J. Byrne Chairman of the Board and Chairman of the Board and White Mountains Insurance Chief Executive Officer Chief Executive Officer Group, Ltd. 80 South Main Street Hanover, NH 03755 Patrick M. Byrne Director self employed 35 Rope Ferry Road Hanover NH, 03755 Reid T. Campbell Vice President - Finance Vice President - Finance White Mountains Insurance Group, Ltd. 80 South Main Street Hanover, NH 03755 Howard L. Clark, Jr. Director Vice Chairman of Lehman Lehman Brothers Inc. Brothers Inc. American Express Tower New York, NY 10128 Robert P. Cochran Director Chairman, President & Chief Financial Security Assurance Executive Officer of Holdings Ltd. Financial Security Assurance 350 Park Avenue Holdings Ltd. New York, NY 10022 Steven E. Fass Director President and Chief Executive Folksamerica Holding Company, Inc. Executive Officer of One Liberty Plaza Folksamerica New York, NY 10006
9 SCHEDULE I TO SCHEDULE 13D (CONT.)
NAME AND PRESENT PRINCIPAL BUSINESS ADDRESS OFFICE OCCUPATION OR EMPLOYMENT George J. Gillespie, III Director Partner in Cravath, Cravath, Swaine & Moore Swaine & Moore 825 Eighth Avenue New York, NY 10019 John D. Gillespie Director Self Employed White Mountains Holdings, Inc. 80 South Main Street Hanover, NH 03755 Arthur Zankel Director Managing Partner High Rise Partners LP of High Rise 535 Madison Avenue Partners New York, NY 10022 Gordon S. Macklin Director Retired 8212 Burning Tree Road Bethesda, MD 20817 Kernan V. Oberting Vice President Vice President White Mountains Insurance Group, Ltd. 80 South Main Street Hanover, NH 03755 Frank A. Olson Director Chairman of the Board The Hertz Corporation of The Hertz Corporation 225 Brae Boulevard Park Ridge, NJ 07656 Michael S. Paquette Sr. Vice President & Controller Sr. Vice President & Controller White Mountains Insurance Group, Ltd. 80 South Main Street Hanover, NH 03755 David G. Staples Vice President-Taxation Vice President-Taxation White Mountains Insurance Group, Ltd. 80 South Main Street Hanover, NH 03755 K. Thomas Kemp Director Consultant White Mountains Insurance Group, Ltd. 80 South Main Street Hanover, NH 03755 WMP Raymond Barrette Director (see above) (see above) William P. A. Douglas Director Director The Financial Services Centre Bishop's Court Hill St. Michael, Barbados, West Indies
10 SCHEDULE I TO SCHEDULE 13D (CONT.)
NAME AND PRESENT PRINCIPAL BUSINESS ADDRESS OFFICE OCCUPATION OR EMPLOYMENT Kenneth F. G. Thomson Director Director The Financial Services Centre Bishop's Court Hill St. Michael, Barbados, West Indies WMSC Raymond Barrette Director (see above) (see above) Terry L. Baxter Director Consultant White Mountains Insurance Group, Ltd. 80 South Main Street Hanover, NH 03755 Michael S. Paquette President and Director (see above) (see above) David G. Staples Vice President (see above) (see above)
11 -----END PRIVACY-ENHANCED MESSAGE-----