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Business Briefs

Reported by Star-Bulletin staff & wire

Monday, March 15, 1999

Kapolei center to get self-storage facility

Early next year Kapolei will have a new two-story, 130,000-square-foot self-storage facility, which landowner Campbell Estate says will be the first of its kind in the area. AAAAA Rent-A-Space has begun construction, which marks the beginning of work to build Phase II of the Kapolei Shopping Center, the estate said.

The building, which will have more than 1,200 storage units, will feature the Kapolei signature green tile roof and landscaping.

Airlines increase fares by up to 3%

DALLAS -- The airline industry increased fares over the weekend, the second price increase so far this year. Business fares were hiked by about 1 percent and leisure fares grew about 3 percent. United Airlines started this round of increases Thursday when it first posted the higher fares. The other major carriers then followed.

Before this increase, the industry's last round of fare changes were at the end of January when business fares went up 2 percent and restricted leisure fares grew 4 percent.

DuPont buys rest of Pioneer Hi-Bred

DES MOINES, Iowa -- Chemical giant DuPont Co. is paying $7.7 billion for 80 percent of Pioneer Hi-Bred International Inc., the world's largest seed corn company. The deal, which was announced today, boosts DuPont's 20 percent stake in the seed company to full ownership and is DuPont's first deal since it announced last week it wanted to increase its presence in the life sciences.

Under the terms of the agreement, Pioneer shareholders will get $40 per share in cash and stock. That is a 16.5 percent premium over Pioneer's stock price on Friday when it climbed 40 percent after the companies disclosed they were in talks on a possible combination. Pioneer stock today was up $3.44 to $37.75 a share at midday on the New York Stock Exchange, where DuPont was down $1.371/2 at $56.371/2.





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