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Tag Archives: sell

Texas company buying Magnolia Guaranty for $5.23M

RIDGELAND — Citizens Inc.’s wholly owned subsidiary, Security Plan Life Insurance Company, has reached a definitive agreement to acquire Magnolia Guaranty Life Insurance Company of Ridgeland for $5.23 million. Magnolia Guaranty has 409,553 shares of capital stock outstanding.  Since 1992, it has specialized in the sale of final expense and pre-need life insurance policies in Mississippi through its funeral home ...

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Furniture manufacturer being purchased by Denver-based company

SENATOBIA — Furniture maker Chromcraft Revington Inc. is being sold for $3.45 million. The company, which is based in West Lafayette, Ind., and has a factory in Senatobia, has agreed to merge with Denver-based apparel maker Sport-Haley Holdings. Sport-Haley would pay $2.7 million when the deal closes. It would pay another $750,000 when Chromcraft’s plant in Delphi, Ind., is sold ...

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Mall sale draws prospective buyers; owners asking $6.5M

JACKSON — A dozen potential buyers have expressed interest in Jackson’s Metrocenter mall since it hit the market Sept. 24. That’s according to the building’s broker. Listing price is $6.5 million. David Sewell, Metrocenter manager, tells The Clarion-Ledger day-to-day business at the 500,000-square-foot mall, which is Mississippi’s largest and once was the state’s premier shopping center, will not be interrupted. ...

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Hospital to look for buyer with 'stalking horse' bid

NATCHEZ — Natchez Regional Medical Center will seek a “stalking horse” bid in which a potential buyer makes an initial offer to set the floor for an auction. Hospital officials tell The Natchez Democrat that three health care providers have agreed to participate. “We are hopeful that within a matter of weeks we will have identified a stalking horse,” said ...

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Sanders Oil sells to Alabama company for undisclosed price

COLUMBUS — Sanders Oil Company has been sold to Midstates Petroleum Company in Vernon, Ala. The sale includes Sanders Oil’s 14 gasoline stations. Terms of the sale were not made public. Sanders Oil vice president Will Sanders tells The Commercial Dispatch that the sale was finalized Monday. The sale includes Sanders’ six consignment stores and hundreds of commercial accounts. Sanders ...

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Kitchens Brothers selling shuttered sawmills

UTICA — Equity Partners CRB and Heritage Global Partners have been retained to sell three hardwood sawmills on behalf of Kitchens Brothers Manufacturing Company. Equity Partners is seeking bids for each mill in its entirety through late October, with any remaining assets to be offered at auction in November by Heritage. Family owned and operated since its founding in 1945, ...

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After 150-plus years, newspaper ceasing publication with merger

SARDIS — After more than 150 years in business, The Southern Reporter will cease publication at the end of September. The Sardis-based newspaper will put out a final edition on Sept. 26 and merge with The Panolian. “This was a difficult decision, we appreciate all of our loyal subscribers and advertisers during the last 15 years,” Reporter editor David Howell said ...

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Hospital dipping into settlement money while sale continues

NATCHEZ — Natchez Regional Medical Center officials say they have had to use money from a 2012 legal settlement to address pressing needs as Adams County officials continue efforts to sell the facility. The undisclosed settlement was reached with the medical center’s former management company, Quorum Health. The county-owned hospital had sued Quorum in 2008, alleging mismanagement. The Natchez Democrat ...

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Renasant-First M&F merger done; new company holds $5.8B in assets

TUPELO and KOSCIUSKO — Renasant Corporation of Tupelo has completed its merger with First M&F Corporation, a bank holding company headquartered in Kosciusko and the parent of Merchants and Farmers Bank. The combined company has approximately $5.8 billion in total assets with 130 banking, mortgage, financial services and insurance offices throughout Mississippi, Tennessee, Alabama and Georgia. The merger adds $1.6 ...

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Study complete, HORNE recommends selling hospital

NATCHEZ — The eventual sale of Natchez Regional Medical Center is necessary and inevitable if the area is going to have comprehensive health care in coming years. The Natchez Democrat reports that’s the takeaway Healthcare Management Partners CEO Scott Phillips said he had from the HORNE Group’s feasibility study about the sale of NRMC. The study was presented to the ...

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