Service Corporation International Announces Successful Bid for Keystone North
America Inc.


    



    
</pre>
<p><span class="xn-location">HOUSTON</span>, <span class="xn-chron">March 26</span> /CNW/ -- Service Corporation International (NYSE:   SCI), the largest provider of deathcare products and services in <span class="xn-location">North America</span>, announced today that 23,748,302 common shares of Keystone <span class="xn-location">North America</span> Inc. ("Keystone"), representing approximately 91% of the outstanding Keystone common shares, have been tendered to the offer (the "Offer") dated <span class="xn-chron">November 16, 2009</span>, as amended, made by SCI Alliance Acquisition Corporation ("SCI Alliance"), a wholly-owned subsidiary of SCI.  Since all of the conditions of the Offer have been satisfied, SCI Alliance has taken up all of the Keystone common shares tendered to the Offer.</p>
<p/>
<p>SCI intends to acquire all of the Keystone common shares that were not deposited under the Offer pursuant to the compulsory acquisition provisions of the Ontario Business Corporations Act.</p>
<p/>
<p>"We welcome the Keystone associates into the Dignity Memorial family," said <span class="xn-person">Tom Ryan</span>, SCI president and chief executive officer.  "The acquisition is a great complement to the more than 300 similarly situated businesses we currently operate and will provide a platform to grow our business in this valuable segment."</p>
<p/>
<p>In connection with the Offer, the board of directors of Keystone has been replaced by nominees of SCI, with <span class="xn-person">Mr. Steven Tidwell</span> remaining as a director of Keystone.</p>
<p/>
<p>Keystone has given notice that its subordinated notes (including the subordinated notes forming a part of the income participating securities of Keystone) will be redeemed on <span class="xn-chron">April 26, 2010</span>.  Keystone has deposited sufficient funds with the trustee under the note indenture to redeem the notes and pay all interest up to the redemption date. In addition, Keystone has repaid the outstanding amounts under, and terminated, the senior credit facility of its subsidiary, Keystone America, Inc.</p>
<p/>
<p>Keystone shareholders with questions or requests should contact Kingsdale Shareholder Services Inc., the Information Agent in connection with the Offer:</p>
<p/>
<p> </p>
<p> </p>
<pre>
    
        North American Toll Free Phone:  1-866-581-1487
        Outside North America, Banks and Brokers Call Collect:  416-867-2272
        E-mail: contactus@kingsdaleshareholder.com
        Facsimile:  416-867-2271
        Toll Free Facsimile:  1-866-545-5580



    About Service Corporation International
    
</pre>
<p>Service Corporation International (NYSE:   SCI), headquartered in <span class="xn-location">Houston</span>, Texas, is North America's largest provider of deathcare products and services.  At <span class="xn-chron">December 31, 2009</span>, we owned and operated 1,254 funeral homes and 372 cemeteries (of which 212 are combination locations) in 43 states, eight Canadian provinces, the District of Columbia and <span class="xn-location">Puerto Rico</span>. Through our businesses, we market the Dignity Memorial(R) brand which offers assurance of quality, value, caring service, and exceptional customer satisfaction. For more information about Service Corporation International, please visit our website at <a href="http://www.sci-corp.com">www.sci-corp.com</a>. For more information about Dignity Memorial(R), please visit <a href="http://www.dignitymemorial.com">www.dignitymemorial.com</a>.</p>
<pre>
    

    Reader Advisory
    
</pre>
<p>This announcement is for informational purposes only and does not constitute or form part of any offer or invitation to purchase, acquire, subscribe for, sell, dispose of or issue, or any solicitation of an offer to sell, dispose, issue, purchase, acquire or subscribe for any security. The Offer is being made exclusively by means of and subject to the terms and conditions set out in the Offer documentation delivered to Keystone shareholders and filed with the Canadian provincial securities regulators. Keystone shareholders should read these materials carefully as they contain important information, including the terms and conditions of the Offer. The Offer documentation is available electronically without charge at <a href="http://www.sedar.com">www.sedar.com</a>.</p>
<pre>
    




    
</pre>
<p> </p>
<p> </p>
<p>For additional information contact:</p>
<p> </p>
<p>Service Corporation International</p>
<p> </p>
<pre>
    
    Investors:  Debbie Young / Investor Relations      (713) 525-9088
    Media:  Lisa Marshall / Corporate Communications   (713) 525-5235







    

For further information: For further information: Investors, Debbie Young / Investor Relations, +1-713-525-9088, or Media, Lisa Marshall / Corporate Communications, +1-713-525-5235, both of Service Corporation International Web Site: http://www.sci-corp.com

Organization Profile

SERVICE CORPORATION INTERNATIONAL

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890