Newsday (Nassau Edition) from Hempstead, New York • 45

3000 10-DAY 2900 13VAJ Yesterday 287921 Down: 3242 -l 1 i I FMTWTFMTT Dutch Treat Themselves To the Major Share of EAB By Greg Steinmetz A big Dutch bank has won federal approval to buy a controlling interest in European American Bank Amsterdam Rotterdam Bank or AMRO already owns 20 percent of the Uniondale institution in an unusual arrangement that splits EAB's ownership among six European banks AMRO the second-biggest bank in the Netherlands said yesterday the Federal Reserve has given it approval to buy the stock owned by West Germany's Deutsche Bank and Belgium's Generale Bank Each bank owns 2315 percent of EAB The sales expected to go through in August will raise the Dutch stake to more than 66 percent giving it control over the bank Terms were not disclosed AMRO is scheduled to merge in September with Algemene Bank Nederland Holland's biggest bank The merger will create a bank with $169 billion in assets making it one of the 25 largest banks in the world Last month AMRO won approval for the merger from the New York State Banking Department AMRO needed New York's approval because Algemene Bank owns two banks in Chicago Exchange National Bank and LaSalle National Bank New York law forbids a company that owns a bank in New York from owning a bank in Illinois The state gave its approval because the interstate-banking restriction is scheduled to fall in December Speculation has been building that AMRO wants to consolidate EAB's ownership to make it easier to sell But Rodgin Cohen AMRO's Manhattan attorney said he doubts a sale is in the works "It doesn't make a lot of sense to buy the company and then turn around and sell it" he said "I think they're trying to make it a more efficient competitor and retain its Long Island focus" EAB declined comment About two-thirds of EAB's 88 branches are on Long Island EAB has $53 billion in assets and employs 2500 The bank lost $792 million in the three months ended March 31 Pressing Concerns This Week chain faces an uncertain future By Charles Zehren The future of Chanry Communications Inc the Farmingdale company that publishes the This Week chain of weekly newspapers is unclear following the sale this week of the financially troubled operation to the New York investment firm EM Warburg Pincus Robert Jelenic president and chief executive officer of Chanry's parent Community Newspapers Inc said Tuesday night that This Week may be sold again continue publishing with its reduced editorial content or file for bankruptcy "There are numerous options to be considered at this point" Jelenic said After absorbing steep losses Ralph Ingersoll II said Monday he was swapping his interest in Chanry and all of his other newspaper holdings in the United States in exchange for Warburg's stake in papers in England and Ireland Jelenic who had served as president of Ingersoll's US newspaper companies will continue to run the operations for Warburg Chanry was a financial drain on Community since it was purchased in 1987 Consequently Community put Chanry on the block last year Jelenic would not discuss Warburg's possible sale of Chanry in detail or identify the bidders "We hope to sell it but if we don't get our price we are prepared to run it" he said Sources in the newspaper advertising business said the list of interested parties includes newspaper advertising mogul Harold Matzner of Wayne NJ-based CBA Industries Inc and Gary Roiland and Edward Marks of Marks-Roiland Communications in Jericho a subsidiary of TSF Communications of Tulsa Okla Other unnamed deep-pockets investors from the US and abroad are also considering buying the company the sources said But a deal has not been sealed because of a wide disparity between Jelenic's asking price and what the interested parties are willing to pay Newspaper industry sources put the value of Chanry at $20 million to $50 million AP Photo Ralph Ingersoll II Matzner already has agreements with several of the nation 's largest retailers to distribute their advertising circulars in This Week and Marks-Roiland's Long Island Pennysaver and Shoppers Guides Matzner was on vacation and could not be reached for comment "We continue to ask for information that is not being provided but we are still interested in buying the company we are kicking the tires" said Marks who competes intensely against This Week (Chanry is suing Marks-Roiland the Huntington Pennysaver and Guinan Publications of Plain-view over the use of the trademark Pennysaver) Chanry's most valuable asset may not be This Week as an ongoing concern but its real estate holdings and press equipment But Jelenic said he's willing to hold out for what he feels is a fair price for the entire business "Operations are running better than in a year and Please see CHANRY on Next Page Acclaim and MCA Dispute Final Price In UN Toys Deal price of $222 million subject to an adjustment for any changes in LJN's assets between last Dec 31 when the purchase price was set and April 20 when the deal closed and Acclaim paid MCI for the unit Acclaim said MCA told Acclaim on June 4 that those changes required Acclaim to pay MCA another $306000 But Acclaim said it believes the California-based MCA owes Acclaim a refund of $97 million instead It said that if the two corporations cannot reach a settlement by July 18 their contract provides for arbitration by an accounting firm There was no immediate- com-ment from MCA By Tom Incantalupo Acclaim Entertainment Inc of Oyster Bay said yesterday that it sis disputing the final price of LJN Toys Ltd a subsidiary of MCA Inc that Acclaim pur- chased in April Acclaim which makes Nintendo game software under license and other home entertainment products announced plans in March to purchase LJN of Lyndhurst NJ in hopes of increasing its share of the market for Nintendo cartridges which LJN also produces Acclaim said at the time that it intended to shed the toy line of the money-losing LJN Acclaim's announcement yes- jterday said the deal called for a Newsdav Jonathan Kine Another Day in Court John A Mulheren arrives at the federal courthouse in Manhattan yesterday where the jury in his securities fraud trial ended its fourth day of deliberations without reaching a verdict Mulheren faces 30 counts of securities and mail fraud and conspiracy in connection with arbitrager-turned-informant Ivan Boesky (A 5.