UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A-3
Under the Securities Exchange Act of 1934
(Amendment No. 3)
BANCWEST CORPORATION
(Name of Issuer)
Common Stock
(Title of Class of Securities)
059790 10 5
(CUSIP Number)
Banque Nationale de Paris
16, Boulevard des Italiens
75009 Paris, France
(011) (33) (1) 4014-7286
Attention: Jacques Ardant
French American Banking Corporation
499 Park Avenue
New York, NY 10022
(212) 415-9626
Attention: Patrick Saurat
with copies to:
Rodney R. Peck Paul E. Glotzer
Pillsbury Madison & Sutro, LLP Cleary, Gottlieb, Steen & Hamilton
P.O. Box 7880 One Liberty Plaza
San Francisco, CA 94120 New York, NY 10006
(415) 983-1000 (212) 225-2000
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 24, 1999
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box
|_|.
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
CUSIP NO. 059790105
SCHEDULE 13D
- -------- ------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Banque Nationale de Paris
IRS Identification Number: 94-1677765
- -------- ------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- -------- ------------------------------------------------------------------
3 SEC USE ONLY
- -------- ------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO, WC
- -------- ------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO -ITEMS 2(d) or 2(e) |_|
- -------- ------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of France
- -------- ------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 26,715,412
SHARES ----------- ------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 540,456
EACH ----------- ------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 26,715,412
WITH ----------- ------------------------------------------------------
10 SHARED DISPOSITIVE POWER
540,456
- -------- -----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
27,255,868
- -------- -----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- -------- -----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
43.8%
- -------- -----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- -------- -----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
SCHEDULE 13D
- -------- ------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
French American Banking Corporation
IRS Identification Number: 13-5088640
- -------- ------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- -------- ------------------------------------------------------------------
3 SEC USE ONLY
- -------- ------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO, WC
- -------- ------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO -ITEMS 2(d) or 2(e) |_|
- -------- ------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------- ------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ----------- ------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 540,456
EACH ----------- ------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH ----------- ------------------------------------------------------
10 SHARED DISPOSITIVE POWER
540,456
- -------- -----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
540,456
- -------- -----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
- -------- -----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Less than 1%
- -------- -----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- -------- -----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
6
Banque Nationale de Paris ("BNP") and French American Banking Corporation
("FABC") hereby amend their joint Statement on Schedule 13D dated November 10,
1998, as amended by Amendment No. 1 thereto, dated July 20, 1999 ("Amendment No.
1") and Amendment No. 2 thereto, dated September 20, 1999 ("Amendment No. 2"),
relating to the common stock, par value $1.00 per share (the "Common Stock"), of
BancWest Corporation, a Delaware Corporation (the "Issuer") (such Statement on
Schedule 13D as amended, the "Schedule 13D"), as set forth below. All
capitalized terms used in this Amendment and not otherwise defined herein have
the meanings ascribed to such terms in the Schedule 13D.
As more fully described below, since September 16, 1999, the Reporting
Person acquired in open market purchases an aggregate of 656,900 shares of
Common Stock for an aggregate consideration of approximately U.S.$28,558,890
(excluding commissions) in order to maintain its Ownership Percentage in the
Issuer.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 3 of the Schedule 13D is hereby amended by adding the following at the
end thereof:
As previously disclosed in Amendment No. 1 and Amendment No. 2, as a result
of a decrease in its Ownership Percentage, the Reporting Person intends to
acquire additional Common Stock either through open market purchases or through
privately negotiated transactions (the "Restorative Purchases") in order to
restore its Ownership Percentage to as much as (but not greater than) 45%, as
permitted under the Standstill Agreement. In connection therewith, between
September 16, 1999 and November 24, 1999, BNP has acquired in open market
transactions an aggregate of 656,900 shares of Common Stock (the "Restorative
Shares"), for an aggregate consideration of approximately U.S.$28,558,890
(excluding commissions). The Restorative Shares purchased between September 16,
1999 and November 24, 1999 represent, in the aggregate, approximately 1% of the
total outstanding Common Stock. The source of funds used by BNP to acquire the
Restorative Shares, and which will be used to make additional Restorative
Purchases, is working capital of the Reporting Person.
ITEM 4. PURPOSE OF TRANSACTION.
Item 4 of the Schedule 13D is hereby amended by adding the following at the
end thereof:
Since September 16, 1999, BNP has acquired in the aggregate 656,900 shares
of Common Stock in order to restore its Ownership Percentage to 45% in
accordance with the Standstill Agreement. As previously disclosed in Amendment
No. 1 and Amendment No. 2, the Reporting Person intends to continue making
Restorative Purchases until such time as it restores its Ownership Percentage to
as much as (but not greater than) 45%, as permitted under the Standstill
Agreement.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The following paragraph is hereby inserted in lieu of Item 5(a):
(a) BNP owns of record 25,274,312 shares of Class A Common Stock (the "BNP
Shares") (convertible upon the occurrence of certain circumstances described in
Item 6 into 25,274,312 shares of Common Stock). In addition, BNP beneficially
owns 1,441,100 shares of Common Stock (convertible at the option of BNP into an
equivalent number of shares of Class A Common Stock in accordance with the terms
described in the Amended and Restated Certificate of Incorporation of the Issuer
and in the Standstill Agreement). FABC owns of record 540,456 shares of Class A
Common Stock (the "FABC Shares") (convertible upon the occurrence of certain
circumstances described in Item 6 of the Schedule 13D into 540,456 shares of
Common Stock). Collectively, the BNP Shares and the FABC Shares represent 100%
of the shares of Class A Common Stock issued and outstanding as of the date
hereof (and are convertible upon the occurrence of certain circumstances
described in Item 6 of the Schedule 13D into 25,814,768 shares of Common Stock,
which shares together with the additional 1,441,100 shares of Common Stock held
by BNP equal approximately 43.8% of the shares of Common Stock that would be
issued and outstanding upon the conversion of the Class A Common Stock, based
upon the number of shares of Common Stock issued and outstanding as of the date
hereof and the assumption that the Class A Common Stock currently owned of
record by the Reporting Person were to be converted in full).
The following paragraph is hereby inserted in lieu of Item 5(b):
(b) Subject to the restrictions contained in the Standstill Agreement, (a)
BNP has sole voting and investment power with respect to the BNP Shares and any
shares of Common Stock into which such shares may be converted under the
circumstances described in Item 6, and sole voting and investment power with
respect to the 1,441,100 shares of Common Stock acquired pursuant to the
SierraWest Merger and the Restorative Purchases, and BNP has shared voting and
investment power with respect to the FABC Shares and any shares of Common Stock
into which such shares may be converted under the circumstances described in
Item 6, and (b) FABC has shared voting and investment power with respect to the
FABC Shares and any shares of Common Stock into which such shares may be
converted under the circumstances described in Item 6.
Item 5(c) of the Schedule 13D is hereby amended by adding the following at
the end thereof:
(c) The dates, number of shares and prices per share for all purchases of
Common Stock by the Reporting Person from September 16, 1999 through November
24, 1999 are shown on Exhibit I hereto, which is incorporated by reference. All
such purchases were made through ML in open market purchases on the New York
Stock Exchange.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit I Description of purchases of Common Stock by the
Reporting Person from September 16, 1999 through
November 24, 1999.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: 11/30/99
BANQUE NATIONALE DE PARIS
By: /s/ Jacques Ardant
------------------
Name: Jacques Ardant
Title: Directeur de Succursale Attache
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: 11/30/99
FRENCH AMERICAN BANKING CORP.
By: /s/ Patrick Saurat
------------------
Name: Patrick Saurat
Title: Executive Vice President
Exhibit I
---------
Set forth below are the purchases of Common Stock by Banque Nationale
de Paris from September 16, 1999 through November 24, 1999.
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
Date Class of Security Number of Price Where and How Transaction was
Shares (excluding commissions) Effected
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
09/16/99 Common Stock 9,800 USD 41.8125 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
09/17/99 Common Stock 5,000 USD 41.875 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
09/20/99 Common Stock 5,100 USD 41.75 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
09/21/99 Common Stock 32,500 USD 41.5 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
09/22/99 Common Stock 10,000 USD 41.5 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
09/22/99 Common Stock 5,400 USD 41.25 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
09/23/99 Common Stock 12,000 USD 41.3125 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
09/23/99 Common Stock 8,000 USD 41.25 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
09/24/99 Common Stock 20,000 USD 41.25 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
09/24/99 Common Stock 14,500 USD 41.125 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
09/28/99 Common Stock 5,000 USD 41.75 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
09/29/99 Common Stock 13,300 USD 41.875 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
09/29/99 Common Stock 2,200 USD 41.8125 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
09/30/99 Common Stock 7,000 USD 41.625 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
09/30/99 Common Stock 10,000 USD 41.5 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
09/30/99 Common Stock 45,000 USD 41.25 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
10/25/99 Common Stock 20,000 USD 40.9375 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
10/25/99 Common Stock 8,000 USD 40.875 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
10/26/99 Common Stock 10,000 USD 40.875 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
10/26/99 Common Stock 2,800 USD 40.5 Through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
10/26/99 Common Stock 2,000 USD 40.375 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/05/99 Common Stock 5,000 USD 45.0 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/08/99 Common Stock 4,400 USD 44.375 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/08/99 Common Stock 600 USD 44.1875 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/09/99 Common Stock 5,000 USD 44.0625 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/09/99 Common Stock 10,000 USD 44.0 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/10/99 Common Stock 10,000 USD 43.75 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/10/99 Common Stock 5,000 USD 43.6875 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/10/99 Common Stock 5,000 USD 43.6250 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/11/99 Common Stock 5,000 USD 43.5 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/12/99 Common Stock 15,000 USD 43.5 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/19/99 Common Stock 8,700 USD 45.25 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/19/99 Common Stock 40,100 USD 45.125 Through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/19/99 Common Stock 3,700 USD 45.0625 Through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/19/99 Common Stock 400 USD 45.0 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/22/99 Common Stock 7,100 USD 45.4375 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/22/99 Common Stock 10,000 USD 45.375 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/22/99 Common Stock 89,000 USD 45.25 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/23/99 Common Stock 6,000 USD 45.0 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/23/99 Common Stock 400 USD 44.9375 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/23/99 Common Stock 31,600 USD 44.875 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/24/99 Common Stock 17,300 USD 44.5625 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------
11/24/99 Common Stock 130,000 USD 44.5 through ML in open market
purchases on the New York Stock
Exchange
- --------- -------------------------- ---------------- ---------------------------------- -------------------------------------------