OTHER NEWS - Oct. 18, 1991
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From Times Staff and Wire Reports
General Dynamics to Sell Cessna: In a surprise move, the St. Louis company said it will sell its Cessna commercial aircraft subsidiary to trim debt and concentrate on its defense business. Chairman William A. Anders said the divestiture could take the form of an outright sale, an initial public offering, a spinoff to shareholders or another type of disposition. General Dynamics said its debt will be reduced by $240 million and its long-term liabilities by $545 million if Cessna is sold.
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