Jacobs Retains 40% Stake Minstar Sells Bekins to Unit's President in $66-Million Deal: [Home Edition]

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Minstar, a publicly traded company headed by Minneapolis investor Irwin L. Jacobs, said Friday that it has sold its Bekins subsidiary to the Glendale-based moving company's president, Thomas E. Epley, for $66 million.

Under the deal, Epley will remain president and hold a majority stake in the company. Minstar, which is to receive $51 million in cash and the balance in notes, will retain a 40% interest in Bekins, Epley said.

Epley, who joined Bekins two years ago to run the company for Jacobs, said in...