Under state law, the owners have until 2004 to complete the divestiture.
The company said it expects to complete the divestiture to Apartment Investment and Management Company, or AIMCO, by early next month.
Lucent expects to complete the divestiture by the close of its fourth quarter, which ends on Sept. 30.
This time lag is a function of the length of time it takes the firm to complete the divestiture and the type of performance variable that is being utilized.
It also sold 50 percent of Union Texas (and its remaining interest in 1992), and in 1986 it completed the divestiture of 35 of its diverse subsidiary operations, permitting it to concentrate on its growing aerospace, electronics, and automotive operations.
It's more profitable than ever before, it has completed the divestiture of unsuccessful or irrelevant product lines from the Steve Ballmer era, and every sector of its far-flung business from games to the data center is growing.
Amfac Inc., San Francisco, completed the divestiture of its horticulture operations with the sale of Amfac Garden Products Inc. to Flynn Industries Inc., a privately held, real estate and food company and operator of Flynn Nurseries Inc., San Francisco.
Last year's biggest acquisition by a California company, Chevron's $13.3-billion 13.3-billionGulf Oil, is not reflected on this year's roster because Chevron was not allowed to include Gulf earnings and sales until after it compurchasehe required divestiture of some assets.
But analysts said it would be difficult for EMI's new owner, Universal, to take over HMV, as E.U. regulators had already required Universal to make significant divestitures to complete the deal.
From a regulatory perspective, we do ot believe that either the EU or US Federal Trade Commission would challenge the deal or require a meaningful level of divestiture to complete the deal.
