FORM 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): July 19, 2006
American Real Estate Partners, L.P.
(Exact name of registrant as specified in its charter)
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Delaware
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1-9516
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13-3398766 |
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(State or other jurisdiction of
incorporation)
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(Commission File Number)
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(IRS Employer
Identification No.) |
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767 Fifth Avenue, Suite 4700, New York, NY 10153 |
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(Address of principal executive offices) (Zip Code) |
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Registrants telephone number, including area code: (212) 702-4300
445 Hamilton Avenue, Suite 1210, White Plains, NY 10601
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
o Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
TABLE OF CONTENTS
Section 5 Corporate Governance and Management
Item 5.02(b), (c) and (d) Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.
On July 19, 2006, the Board of Directors of our general partner, American Property
Investors, Inc., or API, announced that it appointed Vincent Intrieri as an additional director of
API and Hillel Moerman as Chief Financial Officer for API. Mr. Moerman will retain the title of
Chief Accounting Officer. For purposes of Items 5.02 (b) and (c) of Form 8-K, APIs Chief
Financial Officer serves as the principal financial officer of API. Mr. Moerman replaced Jon F.
Weber as Chief Financial Officer. Mr. Weber will continue in his role as President of API.
Since November 2004, Mr. Intrieri has been a Senior Managing Director of Icahn Partners LP and
Icahn Partners Master Fund LP, private investment funds controlled by Mr. Icahn, APIs Chairman of
the Board and the majority holder of our depositary units. Since January 1, 2005, Mr. Intrieri has
been Senior Managing Director of Icahn Associates Corp. and High River Limited Partnership. From
March 2003 to December 2004, Mr. Intrieri was a Managing Director of High River Limited Partnership
and from 1998 to March 2003 served as portfolio manager for Icahn Associates Corp. Each of Icahn
Associates Corp. and High River Limited Partnership is owned and controlled by Mr. Icahn and is
primarily engaged in the business of holding and investing in securities. Since April 2005, Mr.
Intrieri has been the President and Chief Executive Officer of Philip Services Corporation, a metal
recycling and industrial services company affiliated with Mr. Icahn. Since August 2005, Mr.
Intrieri has served as a director of American Railcar Industries, Inc., or ARI, a company of which
Mr. Icahn is a principal beneficial stockholder that is primarily engaged in the business of
manufacturing covered hopper and tank railcars. From March 2005 to December 2005, Mr. Intrieri was
a Senior Vice President, the Treasurer and the Secretary of ARI. Mr. Intrieri has served as a
director of XO Holdings Inc., an entity in which Mr. Icahn holds a majority interest, since
February 2006. Prior to that, he had served as a director of XO Communications Inc. (XO Holdings
predecessor) from January 2003 to February 2006. Since April 2003, Mr. Intrieri has been Chairman
of the Board of Directors and a director of Viskase Companies, Inc., a publicly owned producer of
cellulosic and plastic casings used in preparing and packaging processed meat products, in which
Mr. Icahn has an interest through the ownership of securities. From 1995 to 1998, Mr. Intrieri
served as portfolio manager for distressed investments with Elliott Associates L.P., a New York
investment fund. Prior to 1995, Mr. Intrieri was a partner at the Arthur Andersen accounting firm.
Mr. Intrieri is a certified public accountant.
Prior to his appointment as Chief Accounting Officer for API in June 2006, from January 2005 to
June 2006, Mr. Moerman held the positions of Director of Accounting and VP of Strategic Planning
for API. From September 2000 through December 2004, Mr. Moerman was a Senior Manager with Ernst &
Young LLP, one of the worlds largest public accounting firms. Mr. Moerman also worked as a staff
accountant for the Division of Corporate Finance of the Securities and Exchange Commission from
1999 to 2000.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
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99.1
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Press Release dated July 19, 2006 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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AMERICAN REAL ESTATE PARTNERS, L.P. |
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(Registrant) |
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By: |
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American Property Investors, Inc. |
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General Partner |
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By:
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/s/ Jon F. Weber |
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Jon F. Weber
President |
Date: July 19, 2006
EX-99.1
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Contact:
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Jon F. Weber |
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President |
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(212) 702-4300 |
FOR IMMEDIATE RELEASE
AMERICAN PROPERTY INVESTORS, INC. NAMES VINCENT INTRIERI TO
BOARD OF DIRECTORS; HILLEL MOERMAN CHIEF FINANCIAL OFFICER
New York, New York, July 19, 2006 American Real Estate Partners, L.P. (NYSE:ACP) (AREP)
announced today that Vincent Intrieri has been appointed as an additional director of American
Property Investors, Inc. (API), the general partner of AREP. In addition, Hillel Moerman has
been appointed as APIs Chief Financial Officer.
Mr. Icahn, Chairman of the Board of API, stated We welcome Mr. Intrieri to the API Board and
look forward to drawing on his valuable experiences as both a manager and director in a variety of
industries.
Mr. Moerman, who serves as the Companys Chief Accounting Officer, will assume the additional
role of Chief Financial Officer from Jon Weber. Mr. Weber, who will continue in his role as
President of API stated, Over the past eighteen months, Hillel has made significant contributions
to upgrading our planning, control and reporting activities at AREP. His background in public
accounting and at the SEC will prove invaluable to him in his expanded role at AREP.
Mr. Intrieri is a Senior Managing Director of Icahn Partners LP and Icahn Partners Master Fund
LP, private investment funds controlled by Mr. Icahn. In addition to holding the position of APIs
Chairman of the Board, Mr. Icahn is the majority holder of our depositary units. Mr. Intrieri also
serves as a Senior Managing Director of High River Limited Partnership and as a director of
American Railcar Industries, Inc. and XO Holdings Inc., each of which are companies in which Mr.
Icahn has an interest. From 1995 to 1998, Mr. Intrieri served as portfolio manager for distressed
investments with Elliott Associates L.P., a New York investment fund. Prior to 1995, Mr. Intrieri
was a partner at the Arthur Andersen accounting firm. Mr. Intrieri is a certified public
accountant. Mr. Intrieri received a BS in Accounting from The Pennsylvania State University.
Prior to his appointment as Chief Accounting Officer for API in June 2006, from January 2005
to June 2006, Mr. Moerman held the positions of Director of Accounting and VP of Strategic Planning
for API. From September 2000 through December 2004, Mr. Moerman was a Senior Manager with Ernst &
Young LLP, one of the worlds largest public accounting firms. Mr. Moerman also worked as a staff
accountant for the Division of Corporate Finance of the Securities and Exchange Commission from
1999 to 2000. He is an MBA graduate of The Johns Hopkins University and received his undergraduate
degree from Ner Israel College.
American Real Estate Partners, L.P., a master limited partnership, is a diversified holding
company engaged in a variety of businesses. AREPs businesses currently include gaming; oil and gas
exploration and production; and real estate. To learn more about AREP, please visit
www.areplp.com.
This release contains certain forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, many of which are beyond our ability to control or
predict. Forward-looking statements may be identified by words such as expects, anticipates,
intends, plans, believes, seeks, estimates, will or words of similar meaning and
include, but are not limited to, statements about the expected future business and financial
performance of AREP and its subsidiaries. Among these risks and uncertainties are changes in
general economic conditions, the extent, duration and strength of any economic recovery, the extent
of any tenant bankruptcies and insolvencies, our ability to maintain tenant occupancy at current
levels, our ability to obtain, at reasonable costs, adequate insurance coverage, risks related to
our hotel and casino operations, including the effect of regulation, substantial competition,
rising operating costs and economic downturns, competition for investment properties, risks related
to our oil and gas operations, including costs of drilling, completing and operating wells and the
effects of regulation, and other risks and uncertainties detailed from time to time in our filings
with the SEC. We undertake no obligation to publicly update or review any forward-looking
information, whether as a result of new information, future developments or otherwise.