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| Centex to Sell Centex Home Equity Company Dallas-based Centex Corporation signed a definitive agreement to sell Centex Home Equity Company, LLC, its sub-prime home equity mortgage lender, to an affiliate of Fortress Investment Group LLC, a global alternative investment and asset management firm. The sale is subject to certain conditions including regulatory approvals and is expected to close within 90-120 days. Centex estimates that net after-tax cash available in connection with the sale, at closing, will be approximately $575 million, which will be used for investment in home building operations and additional share repurchases. write your comments about the article :: © 2006 Construction News :: home page |