	gencorp gy bidder plans sale of aerospace unit general partners controlled by privately held wagner and brown and by afg industries inc said plans to sell gencorp inc s aerospace and soft drink bottling divisions if it succeeds in uiring the company in a filing with the securities and exchange commission general partners said proceeds from the sale of gencorp s aerospace division would help it repay some of the debt it would incur in the dlr a share cash tender offer general partners which launched the surprise tender offer today said it already shares of gencorp or pct of the total outstanding common stock general partners which estimated the total cost of the takeover at billion dlrs also said it plans to continue gencorp s policy of trying to settle federal communications commission charges against two of its television and radio station licenses it said it would also continue gencorp s policy of trying to sell its new york area television station wor to mca inc mca for mln dlrs and its los angeles station khj to walt disney co dis for mln dlrs but general partners said it plans to keep gencorp s headquarter in akron ohio general partners also said it would maintain gencorp s plastics and industrial products division as well as tires and related products but it left open that it might make other changes in gencorp s operations after it completes the merger besides using mln dlrs of its own equity for the tender offer general partners said it would seek one billion dlrs under a secured margin facility from wells fargo bank n a and other banks it also said it would seek billion dlrs from the sale to shearson lehman brothers holdings inc or its affiliates of senior subordinated promissory notes in a march letter to gencorp chairman william reynolds which was included in the sec filing general partners officials said they were confident of our ability to promptly obtain the remaining funding as described in our offer materials for this reason we do not forsee any obstacles to a prompt consummation of the transaction general partners said shearson is dealer manager of the general partners offer for gencorp reuter 
