Friday, June 29, 2007

UPDATE 1-TOUSA to settle with lenders, buy Transeastern JV

(Reuters) - Shares of the company rose nearly 5 percent to close at
$4.19 on the New York Stock Exchange.




In August 2005, Technical Olympic acquired a 50 percent
ownership in a joint venture which bought Transeastern
Properties, and has been in trouble with lenders amid a slump
in the housing market in the United States.


Read more at Reuters.com Mergers News

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